UVeye Secures $191M in Funding to Revolutionize Vehicle Inspection Technology

UVeye, the cutting-edge computer vision technology company that specializes in automated vehicle inspection systems, has successfully raised an impressive $191 million in its latest funding round. Founded in 2016 by visionary entrepreneurs Amir and Ohad Hever, UVeye has revolutionized the way vehicles are inspected by leveraging artificial intelligence and proprietary hardware. Their innovative systems have already been installed at over 100 sites worldwide, including key players in the automotive industry such as vehicle manufacturers, dealerships, fleet companies, and various security-sensitive facilities. This latest funding round marks a significant milestone in UVeye's growth trajectory, building on earlier successes that included a $31 million Series B round led by Toyota Tsusho and Volvo, and a strategic Series C round in 2021 featuring partnerships with CarMax and Hyundai Motors. With this new capital infusion, UVeye aims to expand its footprint even further, enhancing its inspection technologies and increasing deployment in markets that prioritize vehicle safety and security. The essentials of their technology are crucial; each day, UVeye's systems harness the power of AI to identify potential vehicle issues or security threats lurking beneath the surface, proactively addressing concerns before they escalate into dangerous situations. As UVeye continues to advance its mission of raising vehicle inspection standards, they are steadfast in their commitment to creating safer roads and improving overall mobility for communities around the world. This funding not only underscores the confidence investors have in UVeye’s vision but also propels the company closer to its goal of transforming the automotive industry through innovative, next-generation inspection solutions.