UVeye, the worldwide leader in AI-driven vehicle inspection technology, has secured a $191 million extension to its Series D funding round, bringing total funding to $380.5 million. This latest infusion—combining equity and debt—goals to solidify UVeye’s position because the market leader and support its rapid global expansion to fulfill surging demand for its cutting-edge technology, described as an “MRI for vehicles.” The platform delivers precise, data-driven insights by scanning all visible vehicle components in a matter of seconds. The corporate is now approaching the milestone of scanning a million vehicles per 30 days.
Woven Capital—Toyota’s growth fund that invests in transformative mobility solutions—led the round, marking Toyota’s first investment in UVeye. Equity financing of $41 million included participation from UMC Capital, MyBerg, and existing investors W.R. Berkley Corporation, Menora Mivtachim and More Investment House. Trinity Capital structured a $150 million debt facility, including an initial $100 million commitment and an option for a further $50 million, specifically allocated to support the production of UVeye’s advanced systems.”
said Amir Hever, CEO and Co-Founding father of UVeye. Hever then added,
A Recent Paradigm for Vehicle Inspections
Founded in 2016 by brothers Amir and Ohad Hever, UVeye provides automated vehicle inspection systems that scan underbodies, tires, and exteriors inside seconds. Advanced AI algorithms pinpoint mechanical issues, cosmetic defects, and other hazards in real time. Over 300 installations are already in operation worldwide—across dealerships, auctions, and fleets—with major clients corresponding to General Motors, Amazon, Volvo Cars, and Carmax.
said Will Fung, Principal at Woven Capital. Fung continued,
Where UVeye’s Technology Shines
UVeye’s AI-powered inspection systems are already reshaping multiple sectors of the automotive ecosystem. By rapidly detecting every thing from fluid leaks and worn tires to hidden cosmetic damage, these automated platforms not only improve safety but additionally optimize day by day workflows:
- Dealerships and Service Centers: Quick, data-driven diagnostics enable more accurate trade appraisals and faster service turnarounds.
- Fleets and Rental Agencies: Swift inspections help monitor large volumes of vehicles, reducing downtime and unexpected maintenance costs.
- Manufacturing Lines: Automated quality checks support higher production standards and early detection of potential defects.
- Seaport and Logistics: Comprehensive scans facilitate secure and efficient inspections of incoming and outgoing vehicle shipments.
The adaptability of UVeye’s technology underscores its growing relevance across diverse automotive operations. As the corporate continues to expand, it’s poised to play a number one role in setting recent benchmarks for safety, reliability, and transparency in vehicle inspections worldwide.
Funding to Drive Global Expansion
To maintain pace with soaring demand, UVeye plans to extend manufacturing capability and deepen strategic partnerships worldwide. A whole bunch of recent installations are set for 2025, with hundreds of thousands of vehicles expected to be scanned annually. Trinity Capital’s $150 million debt facility—comprising an initial $100 million commitment and an option for a further $50 million—will help speed up production of the corporate’s automated inspection systems.
UVeye’s rapid growth reflects a broader industry shift toward AI-driven solutions that enhance operational efficiency and strengthen consumer trust. The corporate’s leadership anticipates continued adoption as more fleets, rental services, and manufacturing lines adopt automated vehicle inspection technologies.
