UVeye Secures Strategic Investments
Automated vehicle inspection system provider UVeye has secured strategic investments from Hyundai Motor Co. and several other sources to accelerate the company’s global expansion plans.
"UVeye has raised more than $40 million from carmakers and other strategic investors such as W. R. Berkley Corporation since it was founded four years ago," say UVeye officials.
"Hyundai’s investment is part of an ongoing plan to make use of UVeye’s products and platforms at various locations across Hyundai’s operations globally.
“We are especially proud to be partnering with Hyundai Motor Co. and to be working together with them on exciting projects around the world that enable quick and efficient inspection of vehicles using deep learning and computer vision,” says Amir Hever, CEO and co-founder of UVeye.
UVeye systems utilize a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion technologies to help standardize and speed up most previously manual inspection processes.”
“Our automated, contact-free systems are dramatically changing how auto dealers, major fleet operators and used-vehicle auctions inspect vehicles,” says Hever. “Whether we are working with automakers, dealerships, used-vehicle auctions or major fleets, UVeye makes it easy for them to automatically inspect any type of vehicle, while guaranteeing much higher quality standards for processes that once used to be handled manually.”