By Ken Wieland

29 July 2019

Israel-based UVeye raised $31m in a funding round led by Toyota Tsusho and Volvo Cars. Other investors included W R Berkley Corporation and FiT ventures.

UVeye, which develops AI-based solutions for automatic external inspection of vehicles, bragged that it now had commercial relationships across ‘several tier-1’ global auto manufacturers. The start‑up has the lofty ambition to become the global standard for vehicle inspection.

Amir Hever, chief executive of UVeye, naturally welcomed the extra funding. He reckoned it was a strong endorsement of the firm’s “game-changing auto scanning solution”.

AI drive-thru

How it works is this. By using what it calls a ‘first-of-its-kind’ AI, purpose-built for vehicles, UVeye’s drive-through systems are designed to detect external and mechanical flaws and identify anomalies, modifications or foreign objects — both along the undercarriage and around the exterior of the vehicle.

The scanning process, said UVeye, completes within a matter of seconds and can be used throughout the entire lifecycle of the vehicle. The technology is apparently being actively deployed today across many use cases, from the vehicle manufacturing line – the moment components are placed on the conveyor belt through end‑of‑line inspection – to logistics, maintenance and beyond.

UVeye’s anomaly detection accuracy rate, claims the start-up, has exceeded client thresholds in all case studies to date.

As part of the investment deal, Volvo Cars and Toyota Tsusho intend to use UVEYE’s inspection systems at various sites internationally, including Volvo Cars’ factories dealerships and in the after-market.

Won’t get fooled again

The sheer expense of recalling vehicles in the event of problems emerging after they leave the factory is no doubt a compelling reason why auto-manufacturers appear to be increasingly interested in UVeye. Both Volvo Group and Toyota Group can bear witness to that.