UVeye raises $191 million

UVeye, a provider of AI-powered vehicle inspection systems, announced $191 million in equity and debt. The $41 million in equity financing was led by Woven Capital, with participation from UMC Capital, MyBerg, W.R. Berkley, Menora Mivtachim, and More Investment House. Trinity Capital structured the $150 million debt facility.

Founded in 2016, UVeye’s drive-thru systems, described as an “MRI for vehicles,” leverage computer vision to conduct assessments of vehicle damage.

Last year, Acadia Insurance, a Berkley company, partnered with the Israeli startup to leverage its systems for the creation of insurance estimates.

The new funding will drive UVeye’s global expansion, increase large-scale manufacturing capacity, and strengthen strategic partnerships. In 2025, the company plans to deploy hundreds of systems worldwide.

“UVeye is redefining the standard for vehicle inspections, and this investment from Woven Capital, Toyota’s growth fund, underscores the global shift towards automated and AI-driven solutions. With hundreds of new installations planned for 2025, including for dealerships, major fleets and car manufacturers, as well as strategic applications in rental services, manufacturing lines, and seaport inspections, we’re scaling at a pace that reflects the market’s enormous hunger for our technology.” – Amir Hever, CEO and Co-Founder of UVeye.

“UVeye has experienced remarkable growth across the mobility ecosystem, which speaks volumes about the exceptional leadership of Amir and his team, as well as the growing demand for advanced vehicle inspection technology. UVeye’s platform will help deepen the connection between automotive service providers and their customers by delivering transparency and actionable insights that modernize the service experience.” – Will Fung, Principal at Woven Capital.