Ohad and Amir Hever, co-founders of UVeye (company pic)
UVeye, an Israeli startup that uses artificial intelligence AI in the development of automated vehicle inspection systems, raised $100 million in additional funding after recently completing a Series D investment round led by Hanaco VC, a venture-capital firm. The company said the new funds will be used to start production of UVeye inspection systems in North America, support further sales growth in the U.S. and fuel new-market expansion efforts.
The company has now raised $200 million in investment capital and UVeye has operations all over the world including the US, Japan, Germany and Israel.
So, Mobileye is not the only game in town when it comes to the development of new technologies in the field of automobile safety.
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Founded in 2016 by CEO Amir Hever and his brother Ohad, UVeye offers automated vehicle inspection systems based on advanced artificial intelligence and machine learning technologies for both the automotive and homeland security industries. UVeye systems are increasing the speed and quality of inspection processes on assembly lines, as well as at new- and used-car dealerships, used-car auction houses and major vehicle fleets, as well as security checkpoints around the world.
“UVeye’s goal is to both revolutionize and standardize how the auto industry detects vehicle damage and mechanical issues,” said Amir Hever, the company’s CEO and co-founder. “Our patent-protected technology provides automakers, dealers, and fleet operators with unmatched solutions for quickly and accurately identifying vehicle problems while setting new quality standards for the industry.”
“Our agreements with leading players in the U.S. market will lead to the installation of thousands of new UVeye inspection systems within the next two-to-three years and generate an exponential jump in sales,” Hever added.
“The confidence that Hanco VC and our other strategic investors have shown in UVeye will allow us to further scale our operations and introduce industry-first inspection technology at thousands of dealerships, used-car auctions and fleets throughout the United States within the next three years,” he said.
