Uveye, a US-headquartered and Israel-based company that has developed artificial intelligence-based vehicle inspection technology, has raised $191 million in a mix of equity and debt, bringing the company’s total capital to $380.5 million.
The latest investment will fuel UVeye’s efforts to meet surging global demand for its innovative systems and solidify its position in the industry as the company nears a million vehicles scanned every month.
The round was led by Woven Capital with participation from UMC Capital, MyBerg, and existing investors W.R. Berkley, Menora Mivtachim, and More Investment House for a $41 million equity investment.
In addition, asset management firm Trinity Capital structured the $150 million debt facility, including an initial $100m commitment and an option for an extra $50m, allocated to advancing the production of UVeye’s systems.
Founded by brothers Amir and Ohad Hever in 2016, Uveye offers high-end solutions for automatic external inspection of vehicles through advanced technologies, such as proprietary hardware combined with machine learning and computer-vision algorithms.
The company 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.
UVeye’s systems, likened to an “MRI for vehicles,” deliver data-driven insights by scanning all visible vehicle components in a matter of seconds using external scanners.
Powered by advanced AI, these platforms enhance the safety and efficiency standards of vehicles. Its vehicle inspection technology uses AI-driven underbody scanners, tire analyzers, and 360-degree exterior detection systems to identify mechanical and cosmetic issues which have been installed at hundreds of dealerships, fleet sites, and auction lots globally.
According to the startup, it experienced a surge in market presence, with installations in North America and other regions in 2024.
The new funding will drive the company’s global expansion, increase large-scale manufacturing capacity, and strengthen strategic partnerships. In 2025, the company plans to deploy hundreds of systems worldwide, allowing the scanning of millions of vehicles annually as well as spearheading innovation across the automotive industry.
Furthermore, Uveye is shaping the future of vehicle safety and efficiency through its partnerships and its key clients like Amazon and General Motors, along with initiatives in rental services and seaport inspections.
