UVeye, a developer of AI-powered vehicle inspection systems, has received $191 million in funding from various investors to increase its technological development. The investments were led by Woven Capital, along with contributions from UMC Capital and MyBerg, W.R. Berkley, Menora Mivtachim, and More Investment House for $41 million in equity financing and a $150 million debt facility from Trinity Capital.
“UVeye is redefining the standard for vehicle inspections, and this investment from Woven Capital, Toyota’s growth fund, underscores the global shift towards automated and AI-driven solutions,” said Amir Hever, CEO and co-founder of UVeye. “With hundreds of new installations planned for 2025, including for dealerships, major fleets, and car manufacturers, as well as strategic applications in rental services, manufacturing lines, and seaport inspections, we’re scaling at a pace that reflects the market’s enormous hunger for our technology.”
Read more: UVeye’s vehicle inspection tech integrates with Fortellis Automotive Commerce Exchange
UVeye’s system is a modular inspection platform for vehicle underbodies, exteriors, tires, and interiors for both passenger and heavy-duty trucks. The system works by scanning all visible vehicle components, and the company is developing additional solutions for dual truck tires and heavy-duty vehicles.
