Israeli vehicle diagnostic systems startup UVeye has received an investment from General Motors' capital venture arm, GM Ventures, the company announced this week.
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The investment from GM Ventures will fund the development of UVeye's vehicle inspection technology, which uses artificial intelligence, machine-learning and high-definition camera technologies to check tires, underbody components and vehicle exteriors for defects, missing parts and other safety-related issues.
The startup also has entered into a commercial agreement with General Motors to explore the expansion of UVeye's automated high-speed systems to GM dealerships throughout various markets.
As part of the strategic collaboration agreement, the two companies have agreed to work on a variety of vehicle-inspection technology projects involving used-car auctions, fleet operations and automotive dealership sales. In the future, UVeye plans to incorporate electric-vehicle and autonomous-driving platforms into its inspection databases, as well.
More than 4,000 GM dealerships will be eligible to purchase the vehicle-inspection equipment to use in their service lanes. The team will also explore applications for extending the technology to exterior scans and photography to generate online interest and potential sales for used vehicles.
Amir Hever, UVeye's CEO and co-founder, noted that automated inspection processes take seconds to complete and are significantly more accurate than time-consuming manual inspections commonly in use today.
UVeye currently has facilities in North America, Europe and the Asia Pacific region, including offices in Israel, Japan, Germany and the United States. The company has formed strategic partnerships with numerous dealership groups, used-car auctions and vehicle fleets since it was founded in 2016.
Hever believes that UVeye shares a common vision with General Motors for improved service quality that can benefit dealers, service technicians, and customers alike.
"High-speed inspection equipment can serve as tools of empowerment for new- and used-car dealers," Hever said. "We very much look forward to working with GM in the months and years ahead. Both companies share the same vision and sense of innovation and when it comes to vehicle quality, the future is a bright one."
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