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Gesher I Acquisition Corp. (GIAC) is a Cayman Islands exempted company established as a blank check company. Sponsored by the prominent entities Varana Capital, High House Investments, and Newtyn Management, GIAC is on a mission to merge, share exchange, acquire assets, purchase shares, recapitalize, reorganize, or enter into similar business combinations with one or more businesses or entities. Although its efforts to identify prospective target businesses are not confined to any specific industry or geographic region, the company’s initial focus is on businesses located in Israel with international operations across Asia, Europe, or North America.
GIAC is spearheaded by a dynamic leadership team, including Ezra Gardner as Chief Executive Officer and Director, Omri Cherni as Chief Operating Officer and Director, and Chris Coward as Chief Financial Officer. The diverse expertise and leadership of the team position GIAC to navigate various industries and markets effectively.
In recent developments, GIAC has shown a keen interest in the logistics industry. A notable partnership involves Eastern Air Logistics (EAL), the logistics arm of China Eastern Airlines. This collaboration with WebCargo by Freightos (NASDAQ: CRGO) is aimed at revolutionizing the cargo booking and payment platform, making EAL the first Chinese carrier with real-time ex-China eBooking and payments. This strategic partnership enables seamless, end-to-end solutions for customers moving cargo from China to North America, Europe, and Asia.
Eastern Air Logistics, with its extensive network, including subsidiaries like China Cargo Airlines and Eastern Transport, offers substantial capacity for China’s export and import routes. Leveraging the SkyTeam Alliance, EAL expands its global reach to over 1088 destinations in 184 countries, ensuring smooth access to its air cargo services for global supply chains.
GIAC’s strategic collaborations and leadership vision reflect its commitment to leveraging digital platforms to streamline logistics processes and expand market reach. These endeavors align with GIAC’s broader objective of fostering growth and innovation within its target sectors.
WebCargo by Freightos, a leading booking and payment platform for the international freight industry, announces a new partnership with Singapore Airlines. This collaboration will provide users with an end-to-end booking experience and expand reach in the Asia-Pacific region. The platform saw a significant increase in digital bookings from Asia origins, showing a growing trend towards digitalization. Singapore Airlines' cargo capacity on WebCargo will give users access to more destinations in Asia, enhancing the booking experience for freight forwarders.
Freightos (Nasdaq: CRGO), a key player in the international freight industry, is set to release its financial results for the fiscal year 2022 on March 13, 2023. Management will hold a webcast and conference call at 8:30am ET to discuss these results, followed by the filing of the annual report on form 20-F by March 31, 2023. The company operates a vendor-neutral platform enhancing shipping efficiency, connecting thousands of importers and exporters with logistics providers globally.
For more information, visit freightos.com/investors.
Freightos Limited reported a significant surge in transactions on its platform, with 211,000 transactions in Q4 2022, a remarkable 117% increase year-over-year.
The total freight transactions for 2022 reached 668,000, representing a 154% growth from 2021. Despite a contraction in the global freight market, Freightos achieved $611 million in Gross Booking Value (GBV), doubling its value from the previous year. The company anticipates becoming NASDAQ: CRGO by the end of January 2023 as it moves forward with its business combination with Gesher I Acquisition Corp.
Freightos Limited reported impressive third-quarter 2022 results, announcing record gross booking value (GBV) and transactions on its freight booking platform. The company is set to go public following a business combination with Gesher I Acquisition Corp. (NASDAQ: GIAC). This alliance aims to enhance Freightos' visibility and growth in the global freight market. Freightos operates a vendor-neutral platform, integrating over 10,000 importers/exporters and numerous forwarders and carriers, thus improving supply chain efficiency.
Gesher I Acquisition Corp. (NASDAQ: GIAC) and Freightos Limited announced the submission of a draft registration statement on Form F-4 to the SEC for their proposed business combination. CEO Ezra Gardner highlighted Freightos' innovative role in modernizing the global shipping industry, reporting strong growth metrics. Following the merger, the combined entity expects to raise $80 million in capital, facilitating expansion and aiming for positive cash flow. The business combination is anticipated to close in late 2022 or early 2023, pending shareholder and regulatory approvals.
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