Israeli startup UVeye has raised over $100 million in a Series D funding round to expand its vehicle inspection technology in the United States. The company’s AI-powered systems can detect damage, anomalies, and modifications to vehicles in seconds, making it a valuable tool for car manufacturers, dealerships, and rental companies. The funding will be used to establish a US headquarters and expand the company’s sales and marketing efforts in the country. UVeye’s technology uses multiple high-resolution cameras and sensors to scan vehicles as they pass through a scanning station. The system can detect damage as small as two millimeters and identify any modifications made to the vehicle, such as the installation of hidden compartments or other illegal modifications. The technology can also be used to detect wear and tear on vehicles, making it a valuable tool for car rental companies and dealerships.
The company’s technology has already been adopted by several major car manufacturers, including Toyota and Volvo, and is being used in airports and other transportation hubs around the world. The company’s expansion into the US market is expected to further increase demand for its technology. UVeye’s technology has the potential to revolutionize the way vehicles are inspected and maintained. By using AI-powered systems to quickly and accurately detect damage and modifications, the company’s technology can help prevent accidents and reduce the risk of fraud. The technology can also help car manufacturers and dealerships identify potential issues with vehicles before they become major problems, saving time and money in the long run. The company’s expansion into the US market is a significant milestone for the Israeli startup, which has already established itself as a leader in the vehicle inspection industry.
With the additional funding, UVeye will be able to further develop its technology and expand its reach, helping to make the roads safer for everyone. In conclusion, UVeye’s recent funding round is a significant development for the Israeli startup and the vehicle inspection industry as a whole.