Drive-Through AI Car Scanner Raises $100M

An Israeli startup that has developed an artificial intelligence drive-through car scanner has raised $100 million. 

UVeye uses AI and high-speed camera systems to scan used cars in seconds for worn tires, fluid leaks, underbody damage and other flaws at car dealerships and auctions. The company says it’s significantly more accurate than time-consuming manual inspections.

UVeye has already installed its inspection systems in North America, Europe and the Asia Pacific region.

Since its foundation in 2016, UVeye has raised more than $200 million, and has formed partnerships with more than 5,000 dealerships, user car auctions, and fleets. General Motors, Volvo Cars USA, and CarMax have introduced the startup’s technology throughout their wholesale networks. 

The company originally created its drive-through inspection stations for security purposes, including the detection of weapons and contraband at international borders.

The $100 million investment was led by Hanaco VC, a venture capital firm based in New York and Tel Aviv, which has previously invested in Moovit, a journey planner app. 

“UVeye’s goal is to both revolutionize and standardize how the auto industry detects vehicle damage and mechanical issues,” said Amir Hever, the company’s CEO.

“Our patent-protected technology provides automakers, dealers and fleet operators with unmatched solutions for quickly and accurately identifying vehicle problems while setting new quality standards for the industry.”