Transportation

UVeye’s Drive-Through Inspection Tech Attracts Hyundai Investment


Four years ago Israeli startup UVeye created a niche in the security world with its drive-through vehicle inspection stations. It quickly expanded to installation of its stations in auto assembly plants to catch flaws before vehicles are in the hands of consumers, working with automakers such as Volvo and Toyota. Today, the company announced what it termed “strategic investments” from Hyundai Motor Company and several other investors. 

Financial terms were not disclosed as per confidentiality agreements but UVeye says since its launch four years ago it has raised more than $40 million, expanding beyond its Tel Aviv headquarters to Cleveland, Ohio, New York and locations in Germany and Japan, with the intention to set up shop in additional locations. 

“We are especially proud to be partnering with Hyundai Motor Company 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, in a statement. 

From Hyundai’s standpoint, the South Korean automaker decided to cast its financial lot with UVeye because after a great deal of research it decided the Israeli company’s inspection systems were superior in terms of technology and speed of use, according to a Hyundai insider familiar with the deal.

UVeye’s inspection systems use a combination of artificial intelligence, proprietary algorithms, machine learning and other technologies to devise various inspections stations that can detect even minute physical and mechanical flaws in a vehicle as it passes through, without stopping. Stations can be set up anywhere along an assembly line, catching and reporting problems.  

Other automotive applications include vehicle inspections during shipping, at dealer service departments, used vehicle auctions and fleet operations.

When used for security purposes, for instance, at international border crossings, UVeye inspection systems can detect weapons and contraband. 

Specifically, Helios is an underbody scanning system that captures problems such as frame damage and fluid leaks, as well as brake and exhaust system issues. Artemis is a camera-based technology that automatically identifies tire specifications and checks for quality issues, including tread wear and sidewall flaws. 

Once the COVID-19 pandemic spread UVeye realized the thermal-sensing aspects of its inspection systems could be used to screen vehicle occupants to detect if any might be feverish, and possibly carrying the coronavirus. The company made the systems available on a non-profit basis to police and ambulance fleets, along with delivery services for food and medical equipment. It’s a feature that could also be used to screen anyone entering a dealer service lane or drivers about to board fleet vehicles to determine if they have a fever and may require further Covid testing. 

The ability, however, to provide early detection of flaws in vehicles before they leave the factory becomes even more urgent for automakers looking to avoid costly recalls after vehicles are in the hands of owners, or who must stop shipment and make repairs before the cars or trucks even reach dealerships. UVeye’s systems provides that detection without the need to stop or remove vehicles from the assembly line.

Only four years removed from its beginnings as a tech startup, UVeye CEO Amir Hever says the company is looking to accelerate its expansion as the far-flung sectors of the auto industry lock onto real-time quality control.

“UVeye has managed to scale it’s automatic inspection solutions to dozens of new clients world-wide and specifically to many dealers, fleets and auctions sites in the USA.” said Hever in a statement. “We are standardizing the market of automatic vehicle inspection and after opening offices in Ohio and New York our expansion will continue during 2021”.



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