UVeye, the global 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—aims to solidify UVeye’s position as the market leader and support its rapid global expansion to meet 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 company is now approaching the milestone of scanning one million vehicles per month.
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 an additional $50 million, specifically allocated to support the production of UVeye’s advanced systems.”
“UVeye is redefining the standard for vehicle inspections, and this investment from Toyota’s growth fund underscores the global shift towards automated and AI-driven solutions,” said Amir Hever, CEO and Co-Founder of UVeye. Hever then added, “With hundreds of new installations planned for 2025, including major fleets, car manufacturers, and strategic applications in rental services, manufacturing lines, and seaport inspections, we’re scaling at a pace that reflects the market’s enormous hunger for our technology.”
A New 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 within 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 such as General Motors, Amazon, Volvo Cars, and Carmax.
“UVeye has experienced remarkable growth across the mobility ecosystem, which speaks volumes about the exceptional leadership of Amir and his team, as well as the growing demand for advanced vehicle inspection technology,” said Will Fung, Principal at Woven Capital. Fung continued, “UVeye’s platform will help deepen the connection between automotive service providers and their customers by delivering transparency and actionable insights that modernize the service experience.”
Where UVeye’s Technology Shines
UVeye’s AI-powered inspection systems are already reshaping multiple sectors of the automotive ecosystem. By rapidly detecting everything from fluid leaks and worn tires to hidden cosmetic damage, these automated platforms not only improve safety but also optimize daily 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 company continues to expand, it is poised to play a leading role in setting new benchmarks for safety, reliability, and transparency in vehicle inspections worldwide.
Funding to Drive Global Expansion
To keep pace with soaring demand, UVeye plans to increase manufacturing capacity and deepen strategic partnerships worldwide. Hundreds of new installations are set for 2025, with millions of vehicles expected to be scanned annually. Trinity Capital’s $150 million debt facility—comprising an initial $100 million commitment and an option for an additional $50 million—will help accelerate production of the company’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 company’s leadership anticipates continued adoption as more fleets, rental services, and manufacturing lines adopt automated vehicle inspection technologies.
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