Automated Vehicle Inspection Firm UVEye Adds $100M in Financing

UVEye, a computer vision company and developer of automated vehicle-inspection systems, has secured $100 million in funding to support sales and manufacturing initiatives in North America and fuel new-market expansion efforts. UVEye's suite of scanning solutions are powered by artificial intelligence and proprietary hardware. The company’s offerings are used to perform comprehensive inspections, specifically of a vehicle’s undercarriage, tires, full body, and interior.

According to the company, its systems have been installed at over 100 sites, including vehicle manufacturers, dealerships; fleet companies; logistical centers; and energy, financial, diplomatic, and other sensitive security facilities. UVEye currently has facilities in North America, Europe, and the Asia-Pacific region, including offices in Israel, Japan, Germany, and the U.S.

High-speed UVeye vehicle inspections take seconds to complete. Courtesy of UVEye.

The additional funding follows the company’s recently completed series D investment round. Since its founding in 2016, the company has raised $200 million in investment capital and formed strategic partnerships with numerous automakers, dealership groups, and used-car auctions.

General Motors, as well as CarMax, which earlier this year partnered with UVEye to provide AI-enhanced condition reports for buyers of vehicles sold at auction, were among series D round investors.