UVeye Sets New Standards for Inspecting New and Used Vehicles

STAMFORD, Conn., Aug. 27, 2019 /PRNewswire/ -- An Israeli company is introducing new artificial-intelligence technology that promises to dramatically change how auto makers, major fleet operators and new- and used-car dealerships inspect vehicles.

UVeye currently is working with five car makers to develop vehicle-inspection systems on assembly lines and at dealerships around the world. A number of other car companies, automotive suppliers, vehicle fleet operators, car rental agencies and dealership groups also have expressed interest in UVeye's technology.

The company has raised more than $35 million in investment capital since 2017 to begin the deployment of inspection systems at Volvo, Skoda, Daimler and Toyota Tsusho. Non-disclosure agreements prohibit the company from discussing programs currently underway with a number of other car makers and suppliers.

UVeye's technology relies on proprietary cloud architecture, sensor fusion, machine-learning and "smart" algorithms to automatically check chassis components, bodywork and tires. The process takes seconds to complete.

The company currently offers three basic product lines:

• Atlas – A 360-inspection system that scans sheet metal and other external body components such as bumpers, door locks, grilles and windows.
• Artemis – A product offering that checks tire wear and quality, including tire pressure, tread wear and sidewall flaws.
• Helios – An underbody scanning system that captures problems such as frame damage and fluid leaks, as well as brake and exhaust system issues.

UVeye CEO Amir Hever noted that Volvo is planning to introduce Helios and Atlas inspection systems at manufacturing facilities and dealerships, while Kavim, a major Israeli bus company, already has installed Artemis to monitor tire quality on its 300-vehicle bus fleet.

UVeye has headquarters in Tel Aviv and Stamford, Connecticut, and plans to open offices in Europe and the Asia Pacific region within the next six months. Founded in 2016 to inspect vehicles for potential threats at border crossings and other sensitive locations, the company currently works with security services in Israel and throughout Europe and Africa. It began to develop quality-control technology for the auto industry in 2017.   

The Israeli start-up recently raised an additional $31 million in funding led by investments from Toyota Tsusho, Volvo Cars and W.R. Berkley Corporation to help deploy Atlas, Artemis and Helios systems at auto-industry facilities around the world.

"Premium quality standards are at the core of the Volvo brand and we are intrigued by the possibilities that UVeye's technology offers," noted Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund. "This type of advanced scanning technology could allow us to take the next step in quality."

Mike Nannizzi, director of Fintech Investments at W.R.Berkley Corporation, added that "When we made our initial investment in UVeye two years ago, we believed its system could have game-changing impact within security and inspection applications globally…..We congratulate UVeye, Toyota Tsusho and Volvo Cars for building a cohesive partnership with enormous potential."

Hever pointed out UVeye systems have the proven ability to provide higher inspection accuracy and improve efficiency with a minimal amount of human intervention. The company's drive-through systems can detect external and mechanical flaws and identify anomalies, modifications or foreign objects. The scanning process completes within seconds and can be used throughout the entire lifecycle of a vehicle.

The accuracy of its anomaly-detection systems has exceeded customer expectations in every case study to date, according to Hever. Since inception, UVeye has generated millions of vehicle scans in dozens of countries around the world. 

About UVeye

UVeye's technology initially was developed for the security industry to detect weapons, explosives or other threats. The company later saw an opportunity to use its technology to solve safety and quality-related challenges within the automotive industry.

With more than 100 employees, UVeye already has deployed vehicle inspection systems at dozens of locations worldwide. The company has headquarters in Tel Aviv, Israel, and Stamford, Connecticut, in the United States.

SOURCE UVeye