The daily example that international capital and investors do not run away from Israeli companies because some left-wing hysterics believe that Israel is sinking into dictatorship because the members of the Supreme Court are now determined by the Knesset – instead by an opaque body – and the legislature gets the last word, so as in all western democracies.
Freightos Limited, based in Jerusalem, (Nasdaq: CRGO), a leading global freight booking and payment platform (“Freightos” or the “Company”) announced the closing of its business combination with Gesher I Acquisition Corp. (“Gesher”), a special purpose acquisition company. The company raised more than $80 million to fund growth strategy, anticipated to be in excess of cash needed to reach positive cash flow.
During 2022, the Company facilitated nearly 700 thousand digital booking transactions, representing over $600 million in Gross Booking Value (“GBV”). This represents 54% growth in transactions compared to 2021.
“Supply chains are fragile, and the last two years demonstrated how valuable Freightos is and can be,” said Zvi Schreiber, Chief Executive Officer and Chairman of the Board of Freightos. “The Company had an outstanding 2022, despite declining freight rates and volumes, demonstrating the power of digitalizing one of the last large offline industries. We are delighted to have constructive partnerships with an increasing number of carriers, freight forwarders and importers/exporters who are committed to digitalization.”
Freightos launched a European standard EN 16258-compliant Carbon Emissions calculator and began to offer carbon offsetting options for WebCargo and Freightos.com customers.
The Company helped increase industry transparency via the expansion of Freightos Data’s suite of tools. In early 2022, the ability to trade futures of container pricing was made available on the Chicago Mercantile Exchange using the Freightos Baltic Index, the first ever futures product available for containerized global freight. The Freightos Air Index, launched in beta in late 2021, was also significantly improved.
Based on press release from Freightos, selected as relevant, shortend, regrouped by VonNaftali. Teaser by VonNaftali.