AI-powered vehicle inspection startup UVeye has raised $191 million in debt and equity to expand operations in North America and Europe. The funding round, which includes $41 million led by Toyota’s Woven Capital and $150 million in debt from Trinity Capital, brings the company’s total capital raised to $380.5 million.
Key Highlights:
- AI-Powered Vehicle Scanning: UVeye’s “MRI for vehicles” technology scans vehicle exteriors, undercarriages, engine sounds, and on-board diagnostics in seconds for automakers, car dealers, auction houses, and insurance firms.
- Efficiency Over Manual Inspections: UVeye detects 96% of defects, compared to 24% found in traditional manual inspections, which can take 20-30 minutes.
- Expanding Presence: Already installed at Amazon distribution centers for fleet safety checks, UVeye plans to expand into Japan by 2026.
- Automated Consistency: CEO Amir Hever highlighted AI’s advantage over human inspectors, saying, “Our system simply doesn’t get tired.”
