Jeffs’ Brands and Deliverz.AI Sign a Binding Letter of Intent for a U.S. Joint Venture Involving AI-Powered Fully Autonomous Robots
Rhea-AI Summary
Jeffs' Brands (Nasdaq: JFBR) has signed a binding Letter of Intent with Deliverz.AI to establish a joint venture for AI-powered autonomous robotic solutions in U.S. healthcare logistics. The JV structure involves Deliverz.AI contributing technology licenses for 50% equity and Jeffs' Brands investing $1 million for the other 50%. Deliverz.AI's robot Polly is currently operational at Sheba Medical Center, delivering chemotherapy drugs autonomously. The service robotics market is projected to grow from $41.5 billion in 2023 to $84.8 billion by 2028. The definitive agreement is expected within 30 days, subject to due diligence and regulatory approvals.
Positive
- Market opportunity in service robotics sector projected to reach $84.8 billion by 2028
- Partnership with established AI robotics company already operating in top-ranked hospital
- Structured investment approach with milestone-based payments reducing initial risk
Negative
- Significant capital commitment of $1 million required from Jeffs' Brands
- No guarantee of JV completion or success
- Potential deal termination if due diligence results are unsatisfactory
News Market Reaction – JFBR
On the day this news was published, JFBR declined 16.44%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Deliverz.AI flagship robot, Polly, is already in use at Israel’s Sheba Medical Center, ranked the 9th best hospital in the world, according to Newsweek magazine, where it autonomously delivers chemotherapy drugs across complex hospital environments
Tel Aviv, Israel, Nov. 27, 2024 (GLOBE NEWSWIRE) -- 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
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
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
FAQ
What is the investment structure of the Jeffs' Brands (JFBR) and Deliverz.AI joint venture?
Where is Deliverz.AI's robot Polly currently being used?
What is the projected growth of the service robotics market according to the JFBR announcement?
When will Jeffs' Brands (JFBR) complete the joint venture agreement with Deliverz.AI?
