UVeye Receives Hyundai Investment

By Staff Writer January 22, 2021

UVeye, a developer of automated vehicle-inspection systems, has secured funding from Hyundai Motor Company and several other investors to accelerate the company's global expansion plans.  

UVeye 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.

"We are especially proud to be partnering with Hyundai and to be working together with them on exciting projects around the world that enable quick and efficient inspection of vehicles using deep learning and computer vision," said Amir Hever, CEO and co-founder of UVeye.

Additional investment details were not released by UVeye due to confidentiality agreements with the company's investors.

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.

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Last modified on Monday, 25 January 2021 17:08