Uveye accumulates another $ 191 million for its ‘magnetic resonance for automobiles’ based on vision

Uveye It began as a play to scan cars in search of security threats, but the Israeli startup really took its passage when its founders realized that computer vision systems with AI could perform inspections of more typical vehicles.

Now, the company is evolving its financing strategy. Uveye announced On Wednesday morning, an extension of $ 191 million to its round of the series D 2023 directed by the Woven Capital Growth Fund of Toyota. The round includes a combination of $ 41 million in capital financing, with the participation of UMC Capital and Myberg, and a debt installation of $ 150 million structured by Trinity Capital.

“We are installing in many locations, and we are obtaining many data, and we have signed some very strategic offers in the last year, and at this time we have more demand than we can really support,” said the CEO and co -founder of Uveye, Amir Hever , to TechCrunch in an interview. “Therefore, it is necessary to finance more systems, implement more units and climb very, very fast.”

The debt includes an initial commitment of $ 100 million and an additional $ 50 million option, and will help Uveye deploy about 700 of its inspection systems in 2025, said Hever.

The systems, which cars can drive and use cameras to scan the filming train, outside and interior, have been popular among customers that include Amazon, Carmax (which invested in the series D 2023 d) and even with distributors and distributors and distributors and Automobile manufacturers.

Hever said that working with these clients has influenced the evolution of the Uveye technology and business model. The company initially focused on the filming train of a car, since it was trying to modernize road safety projections. But customers began to ask for the ability to inspect things such as the use of tires or scan the exterior of the car in search of damage.

“It was a kind of (process) step by step to really understand the needs of the market and how they are inspecting vehicles today and how we can help them be more efficient, increase their income, support our businesses, said Hever.

Now, said Hever, Uveye is scanning almost one million cars per month.