UVeye founders.

UVeye secures $191 million to scale its AI vehicle inspection systems

Debt funding makes up $150 million, helping the startup scale its partnership with Amazon and global markets.

UVeye, a startup that has developed artificial intelligence-based vehicle inspection technology, has raised $191 million, bringing the company’s total capital raised since its inception to $380.5 million. The funding includes a $41 million equity investment led by Woven Capital, Toyota’s growth fund, with participation from UMC Capital, along with existing investors W.R. Berkley, Menora Mivtachim, More Investment House, and MyBerg, as well as a $150 million debt component funded by Trinity Capital.
UVeye’s systems, described as an “MRI for vehicles,” deliver precise, data-driven insights by scanning all visible vehicle components in a matter of seconds. The company’s suite of underbody scanners, tire analyzers, and 360-degree exterior detection systems has been installed at hundreds of dealerships, fleet sites, and auction lots globally.
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מייסדי UVeye - אוהד חבר (COO) ואמיר חבר (מנכ"ל)
מייסדי UVeye - אוהד חבר (COO) ואמיר חבר (מנכ"ל)
UVeye founders.
(Photo: Yuval Chen)
“The main reason we raised debt is our business model, which includes financing the systems, and we have a monthly payment that customers pay us,” Hever told Calcalist. “We are in a growth phase and have made a big jump in the number of customers and significant contracts. We had to choose between raising equity and raising debt, and we chose the latter because we are in a very good position, and it is a shame for us to be diluted. We have a significant agreement with Amazon and will be at 850 of their distribution sites. Every one of their vehicles that returns from distribution is inspected by us. We have many more projects in line with them and continue to grow with them. We have agreements with many agencies.”
Hever said the company has reached an annual revenue rate in the many tens of millions of dollars and that the latest funding round was done at the same value as its $100 million Series D in May 2023.
“We are growing and want to be profitable in the near future, and then everything is on the table,” he said. “We are changing the market and are in three or four segments of the automotive industry. There are many more sectors that we have not yet reached, and even in the sectors we are in, such as fleets, there are other large companies that we are starting to work with, as well as car rental companies.”
The company is approaching one million vehicles scanned every month. UVeye intends to deploy hundreds of additional systems worldwide over the coming year.
The company was founded in 2016 by brothers Amir Hever, who serves as CEO, and Ohad Hever, COO. It employs 200 people, with about half of them working at the development center in Israel and the rest in the U.S., Japan, and Europe.
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