Seoul: South Korean automaker Hyundai Motor has invested in Israeli startup UVeye, a developer of automated car inspection programs, to make use of its platform in international manufacturing strains.
The Tel Aviv-based UVeye mentioned it has raised greater than $40 million from Hyundai Motor and different strategic buyers since its launch 4 years in the past, with out disclosing monetary phrases because of the confidentiality settlement.
“We’re particularly proud to be partnering with Hyundai Motor Firm and to be working along with them on thrilling initiatives around the globe that allow fast and environment friendly inspection of automobiles utilizing deep studying and pc imaginative and prescient,” Amir Hever, CEO and co-founder of UVeye, mentioned late on Wednesday.
UVeye’s drive-through system combines synthetic intelligence, cloud structure, machine studying and sensor fusion applied sciences to assist standardise and velocity up car inspection processes, stories Yonhap information company.
The corporate mentioned its automated programs will be put in at meeting crops, car public sale websites and dealerships around the globe.
Hyundai Motor had made a sequence of strategic investments in Israeli firms, together with Autotalks, an automotive semiconductor design agency, and Opsys Know-how, a Lidar management machine and sensor developer, to make use of their platform and merchandise in automotive factories.
