UVeye spies corporates to raise $31m

Jul 23, 2019 • Jack Hammond

Toyota Tsusho, WR Berkley and Volvo Cars have co-led a $31m round for the AI-powered vehicle inspection technology provider that followed $4.5m of seed funding.

Israel-based vehicle inspection technology provider UVeye secured $31m yesterday in a funding round co-led by insurance firm WR Berkley Corporation and automotive manufacturers Toyota and Volvo Cars.

Investment firm FIT Ventures also took part in the round along with several undisclosed investors, while Toyota participated through its trading unit, Toyota Tsusho.

UVeye has developed artificial intelligence and machine learning-powered inspection technology that enables manufacturers, logistic operators and car rental services to automatically detect external and mechanical problems in vehicles.

The…

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