UVeye Secures $191M Funding Strengthening Leadership In AI-Powered Vehicle Inspection
UVeye, a global leader in AI-driven vehicle inspection technology, recently announced an additional $191 million of funding, bringing total capital raised to date to $380.5 million. This latest infusion, combining equity and debt, will fuel UVeye’s efforts to meet surging global demand for its innovative systems and solidify its position as the market leader in the industry as the company nears a million vehicles scanned every month.
“UVeye is redefining the standard for vehicle inspections, and this investment from Woven Capital, Toyota’s growth fund, underscores the global shift towards automated and AI-driven solutions,” said Amir Hever, CEO and Co-Founder of UVeye. “With hundreds of new installations planned for 2025, including for dealerships, major fleets and car manufacturers, as well as strategic applications in rental services, manufacturing lines, and seaport inspections, we’re scaling at a pace that reflects the market’s enormous hunger for our technology.”
UVeye’s cutting-edge systems, described as an ‘MRI for vehicles,’ deliver precise, data-driven insights by scanning all visible vehicle components in a matter of seconds. Powered by advanced AI, these platforms are revolutionizing vehicle safety and efficiency, across dealerships, auctions, and a range of other industries.
“UVeye has experienced remarkable growth across the mobility ecosystem, which speaks volumes about the exceptional leadership of Amir and his team, as well as the growing demand for advanced vehicle inspection technology,” said Will Fung, Principal at Woven Capital. “UVeye’s platform will help deepen the connection between automotive service providers and their customers by delivering transparency and actionable insights that modernize the service experience.”
The new funding will drive UVeye’s global expansion, increase large-scale manufacturing capacity, and strengthen strategic partnerships. In 2025, the company plans to deploy hundreds of systems worldwide, enabling the scanning of millions of vehicles annually and spearheading innovation across the automotive industry. The $150 million debt facility, structured by Trinity Capital, includes an initial $100 million commitment with an option for an additional $50 million, specifically allocated to support the production of these advanced systems.
The expansion of the UVeye technology portfolio includes the development of advanced diagnostic algorithms that can detect even the minutest anomalies in vehicle condition, from tire defects to subtle undercarriage issues. These capabilities not only enhance the accuracy of inspections but also significantly reduce the time technicians need to diagnose potential issues, streamlining service operations for automotive businesses globally.
For more information: www.uveye.com
