UVeye Secures $191M in Funding, Strengthening Its Global Leadership in AI-Powered Vehicle Inspection

We’re thrilled to announce a significant development at UVeye—a $191 million increase in our funding, bringing our total to $380.5 million. This round, led by Woven Capital, Toyota’s growth fund, empowers us to enhance our technological advancements and expand our market presence.

This latest funding round, which extends our Series D, enables us to pursue strategic growth in essential markets such as Japan, the UK, Europe, and North America. With the support from UMC Capital, MyBerg, and our loyal investors like W.R. Berkley Corporation, Menora Mivtachim, and More Investment House, we are well-positioned to accelerate our operations and innovation.

Our AI-driven systems provide rapid and thorough inspections of all visible vehicle parts, revolutionizing the multipoint inspection process for dealerships, auctions, and fleet operations by enhancing efficiency and transparency.

The expansion of our 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.

"UVeye's technology fosters a deeper connection between automotive service providers and their customers."
Will Fung
Woven Capital

The new funds will boost our expansion efforts in North America and scale up our manufacturing capabilities to meet the growing demand for our technology. In 2025, we plan to deploy hundreds more systems worldwide, significantly increasing our capacity to scan millions of vehicles annually.

Furthermore, the infusion of capital will facilitate the launch of collaborative projects with major automotive manufacturers to integrate our inspection systems directly into manufacturing lines. This initiative aims to improve quality control measures during the production phase, thereby minimizing recalls and enhancing the overall reliability of new vehicles entering the market.

"Our technology's precision and the strong market demand underscore UVeye's vital role in the automotive industry. This year marked a significant advancement, and with robust support from our partners and investors, we are poised for unprecedented growth."
Amir Hever
CEO & Co-Founder, UVeye

At UVeye, we continue to lead the way in transforming the automotive industry’s approach to vehicle safety and efficiency with our innovative AI-driven technology. Discover more about UVeye’s impact on vehicle inspections and explore our technologies by visiting our website or contacting us for a demo.