Israeli company UVeye, a tech startup that develops automated inspection systems for vehicles, announced on Wednesday that it has received an investment from GM Ventures, the capital venture arm of General Motors.
The investment will help fund the development and commercialization of the company’s vehicle inspection technology, UVeye said.
UVeye has also entered into a commercial agreement with General Motors, to explore the expansion of UVeye’s automated high-speed systems to GM dealerships throughout various markets.
Founded in 2016, UVeye says its drive-through systems can detect external and mechanical flaws and identify anomalies, modifications or foreign objects, both along the undercarriage and around the exterior of the vehicle.
UVeye’s product utilizes AI, machine learning, and sensor technologies to create its automated vehicle inspection system for the automotive and homeland security industries.
The two companies have agreed to work on a variety of vehicle-inspection technology projects involving used-car auctions, fleet operations and automotive dealership sales. In the future, UVeye plans to incorporate electric-vehicle and autonomous- driving platforms into its inspection databases.
Amir Hever, UVeye’s CEO and Co-founder, said that automated inspection processes take seconds to complete and are significantly more accurate than time-consuming manual inspections commonly in use today.
“High-speed inspection equipment can serve as tools of empowerment for new- and used-car dealers,” Hever said. “We very much look forward to working with GM in the months and years ahead. Both companies share the same vision and sense of innovation and when it comes to vehicle quality, the future is a bright one.”
UVeye currently has facilities in North America, Europe and the Asia Pacific region, including offices in Israel, Japan, Germany and the United States. The company has formed strategic partnerships with numerous dealership groups, used car auctions and vehicle fleets since it was founded in 2016.