Israeli company ‘UVeye’, which provides solutions for automatic external inspection of vehicles, announced that it had raised additional $31 million in funding, led by Toyota Tsusho, Volvo Cars and W R Berkley Corporation with participation of other partners like F.I.T. ventures.
Amir Hever, UVeye’s CEO said in a written statement, “This latest investment, including leading automotive strategic partners is an important signal that we believe paves the way for UVeye to become the standard of automotive inspection and safety. “
UVeye’s technology enables vehicle manufacturers, logistic operators, retailers and rental car companies to carry out automatic vehicle inspection leveraging on artificial intelligence and purpose-built for vehicles.
UVeye’s drive-through systems can detect external and mechanical flaws and identify anomalies, modifications or foreign objects – both along the undercarriage and around the exterior of the vehicle. The scanning process completes within a matter of seconds and can be used throughout the entire lifecycle of the vehicle.
The technology has been deployed today across many use cases, from the vehicle manufacturing line – the moment components are placed on the conveyor belt through end-of-line inspection – to logistics, maintenance and beyond, said the company.
UVEYE said that Volvo Cars and Toyota Tsusho intend to use UVEYE’s inspection systems at various sites internationally, including Volvo Cars’ factories dealerships and in the after-market. For Toyota Tusho, UVEYE will also support distribution to used car centres, and throughout the company’s footprint within the Japanese auto market.
Image Credit: UVEYE