UVeye gets investment from Hyundai Motor
Honda, Toyota and Volvo are among the Israeli company's major automotive partners
UVeye has secured investments from Hyundai Motor Company and several other investors. It has raised more than $40 million from carmakers and other strategic investors such as W. R. Berkley Corporation since it was founded four years ago. Hyundai’s investment is part of an ongoing plan to make use of UVeye’s products and platforms at various locations across Hyundai’s operations globally.
UVeye systems utilize a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion technologies to help standardize and speed up most previously manual inspection processes.
UVeye offers inspection systems for use in both the homeland security and automotive fields. The company’s solutions can be used throughout the lifecycle of a vehicle, from supplier and OEM assembly lines to new-car showrooms, dealership service departments and used-vehicle auction sites. Its inspection platforms add a layer of efficiency and enable new data insights for customers along the automotive value chain.
