UVEYE It began as a play to scan cars for security threats, but Israel’s startup actually makes a big hit when you realize that a computer vision system equipped with AI can execute more typical vehicle inspections. I gave it.
Currently, the company is evolving funding strategies. UVEYE announcement On Wednesday morning, the 2023 series D -round extended $ 1911 million, led by Toyota’s WoveN Capital Growth Fund. The round includes $ 41 million stock funding, including the participation from UMC Capital and Myberg, and $ 150 million in the Trinity Capital.
“We have installed a lot in many places and have acquired a lot of data. In the past year, we have signed some very strategic transactions. Currently, more than we can actually support. Demand, UVEYE CEO and co -founder AMIR HEVER in an interview. “Therefore, it is necessary to provide more money to more systems, develop more units, and scaled very quickly.”
Debts include $ 100 million initial commitments and additional $ 50 million options, and Hever says that in 2025, UVEYE will help to develop nearly 700 inspection systems.
A system that cars can operate and use a camera can scan undercaries, exteriors, and interiors, but Amazon, Carmax (invested in 2023 Series D), and even car dealers and manufacturers. Popular with customers.
Hever said that cooperating with these customers has influenced the evolution of UVEYE’s technical models and business models. The company was initially focused on the lower structure of the car because it was trying to modernize the security cleaning on the roadside. However, customers began to scan the appearance of the car and seek damage, seeking the ability to test tire wear.
“It was a little stepping [process] I really understand the needs of the market, and how they are examining today’s vehicles, and how they can be more efficient, increase profits, and support business. To do, “said Heber.
Hever currently states that UVEYE is scanning nearly 1 million cars per month.