Drive-Through Inspection Company UVeye Lands Millions In New Funding

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As it racks up an increasing roster of automakers and dealerships for its automated drive-through vehicle inspection technology, UVeye is likewise attracting millions in new investments—the latest, a $100 million infusion.

... [+]“The confidence that Hanaco VC and our other strategic investors have shown in UVeye will allow us to further scale our operations and introduce industry-first inspection technology at thousands of dealerships, used-car auctions and fleets throughout the United States within the next three years,” said Amir Hever, UVeye co-founder and CEO in a statement.

With this latest cash infusion, since its founding in 2016, UVeye has raised $200 million in investment capital and formed strategic partnerships with numerous automakers, dealership groups and used-car auctions, the company said. variety of problems including frame damage, missing parts and fluid leaks, as well as brake- and exhaust-system issues.Its three inspection systems for use at new- and used-car dealerships, used-car auctions and major fleets are:– An underbody scanner that detects a wide variety of problems including frame damage, missing parts and fluid leaks, as well as brake- and exhaust-system issues.– A system that checks tire quality.

The company has since opened a North American headquarters in Teaneck, N.J. and rapidly expanded availability of its drive-through inspection stations at dealerships and fleets. It also has facilities in Japan and Germany.

 

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