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Toyota, Volvo Back Automatic Vehicle Inspection Startup UVeye
Founded in 2016, UVeye develops machine learning and computer vision technology for the automatic external inspection of vehicles
Hagar Ravet | 10:57, 22.07.19
Toyota Tsusho Corp., a member of the Toyota Group, Volvo Car Corp., and New York-listed insurer W. R. Berkley Corp. have led a $31 million series B round in Tel Aviv-based vehicle inspection startup UVeye Ltd., the latter announced Monday.
As part of the agreement, Toyota and Volvo have both announced that they will be implementing UVeye’s inspection systems at some of their locations around the world.
Founded in 2016, UVeye develops machine learning and computer vision technology for the automatic external inspection of vehicles. The system scans the vehicle for a few seconds while it is moving, and is able to detect external or mechanical defects as well as abnormalities, changes to the car, or foreign objects stuck to it. The company has raised $35 million to date.
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