AI-Based Vehicle Inspection Startup UVeye Raises $191 Million Investment

Credit: UVeye

UVeye, a startup specializing in AI-driven vehicle inspection technology, announced on Wednesday it has secured $191 million in debt and equity funding to expand production in North America and Europe.

The company raised $41 million in a funding round led by Woven Capital, the investment arm of Toyota, while asset management firm Trinity Capital structured a $150 million debt facility. With this latest investment, UVeye’s total capital raised has reached $380.5 million.

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Based in Teaneck, New Jersey, UVeye utilizes external scanners to conduct rapid vehicle inspections, assessing the undercarriage, exterior, engine sound, and onboard diagnostics within seconds. The company’s technology is used by automakers, dealerships—including CarMax—car auction houses, and insurance firms.

Traditional manual inspections for defects or repairs typically take 20 to 30 minutes and lack the consistency of AI-driven analysis, CEO Amir Hever told Reuters. “When someone works a shift of eight to ten hours, they can’t inspect every vehicle the same way—you just get tired,” Hever said. “Our system simply doesn’t get tired.”

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UVeye’s technology identifies 96% of vehicle issues, compared with a 24% detection rate in manual service checks, according to Hever. The AI system also adapts to detect model- and brand-specific defects.

The company has installed its scanners at Amazon distribution centers in the United States, where they inspect vehicles returning from delivery routes. “If there are any safety issues, we ground the vehicle until they fix it,” Hever said.

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