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UVeye: Secures $60M in Series C Funding

UVeye Secures $60M in Series C Funding

  • UVeyea Tel Aviv, Israel-based supplier of high-speed vehicle inspection systems for the auto industry, raised $60m in Series C funding
  • Backers included CarMax, W.R. Berkley Corporation, F.I.T. Ventures, and group of Israeli institutional investors led by Epsilon Underwriting & Issuing
  • The company intends to use the funds for its global expansion plans
  • The company offers automated vehicle-inspection systems based on advanced artificial intelligence and machine learning technologies for both the automotive and homeland security industries
  • The company systems utilize a combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor fusion technologies
  • The company currently has facilities in North America, Europe and the Asia Pacific region
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