Wisor AIs Co-Founders. From left to right: Ido Karavany, Co-founder & CTO; Raz Ronen, Co-founder & CEO; and Eiran Bolless, Co-founder & VP of Data & Analytics (PR pic)
Wisor AI, an Israeli startup that offers advanced freight booking software solutions, and Meala FoodTech, another Israeli startup that develops a functional protein platform, both made small raises. Meala FoodTech brought in $1.9 million pre-Seed investment led by The Kitchen FoodTech Hub and DSM Venturing – the corporate venture arm of the Dutch multinational Royal DSM. Wisor AI raised $8 million in a seed funding round led by Team8.
Founded in 2020 by CEO Raz Ronen, and Eiran Bolless VP of Data & Analytics and CTO Ido Karavany, Wisor AI offers a SAAS platform that the company boasts “empowers” Freight Forwarders to be part of the digital era, “providing a great online experience to their customers, with the ability to increase sales and reduce operational costs.”
Wisor AI says they do this by “seamless integration” and “cutting-edge technologies,” delivering technological solutions for freight forwarders to quote and manage their shipments and, to attend to its clients effectively and profitably.
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Today there are roughly 300,000 freight forwarders globally, explains Wisor AI, including 100,000 in the US alone, handling $23.3 trillion in goods delivered to consumers. This huge market is ripe for disruption, as it lacks the tools and technology required to bring forwarding operations into the digital era. Wisor is focused on empowering freight forwarders to compete in a challenging environment suffering from high price volatility and reliance on outdated manual processes.
“As an entrepreneur, I am fascinated by traditional industries that still heavily rely on manual processes and legacy tools,” said Raz Ronen, CEO and Co-Founder of Wisor AI. “The complexity of supply chain management has become pronounced in recent years due to global disruptions caused by COVID-19. Wisor found a way to digitize this industry without requiring freight forwarders to fundamentally change the way they operate today, making the adoption seamless, while enjoying the benefits of digitization.”
Wisor Ali says that the company’s Wisor plug and play solution automates both the cumbersome, manual process of aggregating pricing data as well as the optimization of shipping routes across the global freight ecosystem, including airlines, ocean liners, trucking, and rail companies. This allows freight forwarders to do more with less, improving response rates, and freeing capacity to grow their business. In addition to pricing automation, Wisor’s advanced algorithms continuously optimize pricing in the background – even after the booking has been placed – presenting further opportunities for freight forwarders to cut costs and improve their margins.
Founded in 2022, Meala boasts that the company is “revolutionizing the plant-based protein industry” by developing “innovative” ingredients and processes that allow the creation of cleaner, healthier, and tastier products with a better ecological footprint. Meala has developed a proprietary technology that uses natural processes to create a meaty texture and juiciness mimicking the animal-based origin.
Backed by Strauss Group’s The Kitchen Hub, MEALA is a part of the Israel Innovation Authority’s Incubator Program. The company was also accepted to the European Commission’s prestigious EIT Food Program.
“This achievement reflects the investors’ trust in our technology and R&D team of experts,” said Hadar Razmovich, CEO and co-founder of Meala. “There is a significant need in the plant-based industry to reduce undesirable ingredients and clean up labels effectively. This investment will help us get closer and faster to the market, better address the companies’ specific needs and provide affordable, smarter solutions.”
