Jeffs’ Brands and Deliverz.AI Sign a Binding Letter of Intent for a U.S. Joint Venture Involving AI-Powered Fully Autonomous Robots
27 Noviembre 2024 - 7:28AM
Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR,
JFBRW), a data-driven e-commerce company operating on the Amazon
Marketplace, announced today that it has entered into a binding
Letter of Intent (“LOI”) with Deliverz.AI Ltd. (“Deliverz.AI”), a
company focused on artificial intelligence (“AI”) powered fully
autonomous multi-purpose robotic platforms. The LOI outlines a plan
to establish a joint venture (“JV”) to operate exclusively in the
United States, combining the strengths of both companies to
introduce AI-powered fully autonomous robotic solutions for
healthcare logistics in the United States.
Deliverz.AI specializes in autonomous navigation platforms that
streamline logistics operations. Their flagship robot, Polly, is
already in use at Israel’s Sheba Medical Center, ranked by
Newsweek magazine as the 9th best hospital in the world, where
it autonomously delivers chemotherapy drugs across complex hospital
environments. The company’s AI-powered platforms are designed for
seamless indoor and outdoor navigation, optimizing workflows in
healthcare, smart cities, and Industry 4.0 applications.
The service robotics market is projected to reach $84.8 billion
by 2028 growing from $41.5 billion in 2023, according to
MarketandMarkets. The growing adoption of robots for new
applications, the surging use of Interest of Things (IoT) in robots
for cost effective predictive medicine and the increasing use of
disinfection robots in hospitals are factors driving the growth of
this market per MarketandMarkets.
Pursuant to the LOI, Deliverz.AI will provide the license for
its proprietary robotics technology and operational software to the
JV in consideration of a 50% equity stake in the JV, while Jeffs'
Brands will invest $1 million for a 50% equity stake in the JV. The
investment will be paid according to a phased schedule: $100,000
upon the signing of the definitive agreement establishing the JV,
$100,000 when the JV secures its first U.S. pilot project, and the
remaining $800,000 will be paid in installments until the end of
2025, based on budgets to be agreed upon in the definitive
agreement.
The JV will aim to partner with U.S. medical centers, deploying
robotics solutions to improve logistics efficiency and enhance
healthcare delivery. Both companies are committed to finalizing
definitive agreements within 30 days, which will include customary
closing conditions, compliance with any regulatory approvals and
subject to satisfactory due diligence to be completed by each
party. In the event that the results of the due diligence are not
satisfactory to one of the parties, the LOI will terminate. There
is no guarantee when or if the JV will be completed or if the JV
will be successful.
About Jeffs’ Brands Ltd
Jeffs' Brands aims to transform the world of e-commerce by
creating and acquiring products and turning them into market
leaders, tapping into vast, unrealized growth potential. Through
the Company’s management team’s insight into the FBA Amazon
business model, it aims to use both human capability and advanced
technology to take products to the next level. For more information
on Jeffs’ Brands Ltd visit https://jeffsbrands.com.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate” or other comparable terms. For example, we are using
forward-looking statements when discussing the JV, which is subject
to the execution of binding definitive agreements and the
completion of satisfactory due diligence, the establishment of the
JV and the commencement of its operations in the U.S., including
partnering with U.S. medical centers and the projected growth in
the service robotics market. Instead, they are based only on our
current beliefs, expectations and assumptions regarding the future
of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to adapt to
significant future alterations in Amazon’s policies; our ability to
sell our existing products and grow our brands and product
offerings, including by acquiring new brands; our ability to meet
our expectations regarding the revenue growth and the demand for
e-commerce; the overall global economic environment; the impact of
competition and new e-commerce technologies; general market,
political and economic conditions in the countries in which we
operate; projected capital expenditures and liquidity; the impact
of possible changes in Amazon’s policies and terms of use; the
impact of the conditions in Israel, including the recent attacks by
Hamas, Iran, and other terrorist organizations; and the other risks
and uncertainties described in the Company’s Annual Report on Form
20-F for the year ended December 31, 2023, filed with the U.S.
Securities and Exchange Commission (“SEC”), on April 1, 2024 and
our other filings with the SEC. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Investor Relations Contact:
Michal Efraty Adi and Michal PR- IR Investor Relations, Israel
michal@efraty.com
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