UVeye Secures $60M in Series C Funding
- UVeye, a 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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