UVeye raise $31m to expand AI-driven inspection system

The latest investment in UVeye was led by Toyota Tsusho, Volvo Cars and W. R. Berkley Corporation with participation from partners including F.I.T. ventures.

UVeye’s technology lets vehicle manufacturers, logistic operators, retailers and car rental companies carry out automatic vehicle inspections utilising artificial intelligence purpose-built for vehicles.

“It’s all based on the deep-learning engine and computer vision image processing algorithms we developed in-house to solve a very simple but hard problem,” said David Oren, UVeye’s chief strategy officer. “We are automatically detecting whatever you can see with your eyes. We are enhancing all the manual inspection with an automatic, objective and very efficient system.”

UVeye’s drive-through systems can detect external and mechanical flaws and identify anomalies, modifications or foreign objects along the undercarriage and around the exterior of the vehicle. The scanning process completes within seconds and can be used throughout the entire lifecycle of the vehicle.