UVeye

UVeye systems utilize a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion technologies.  The company’s drive-through systems can detect any external or mechanical flaw and identify anomalies, modifications or foreign objects from under and from any side of a vehicle. The scanning process completes within a matter of seconds and can be used throughout a vehicle’s lifecycle. UVeye’s technology originally was developed for the security industry to detect weapons and contraband. It is now also used in the auto industry to detect a wide variety of quality issues, including oil leaks, paint scratches, tire damage, brake-line damage and exhaust-system problems. UVeye currently has 100 employees located at facilities around the world. Additional information is available at www.uveye.com.

UVeye Secures $60 Million in New Investments to Support Further Global Expansion

TEL AVIV – UVeye, a supplier of high-speed vehicle inspection systems for the auto industry, has obtained $60 million in additional funding to support its global expansion plans. CarMax, W.R. Berkley Corporation and F.I.T. Ventures are among the participants in UVeye’s Series C funding round. CarMax, the largest used-car retailer in the U.S., joins a UVeye group of investors that already includes Volvo Cars, Hyundai Motors and Toyota Tsusho. W.R. Berkley Corporation, also a participant