UVeye, a provider of advanced vehicle diagnostic systems, has announced the capital venture arm of General Motors, GM Ventures, has invested in the company to help fund the development and commercialization of UVeye’s drive-through vehicle inspection technology.
It’s not known how much GM invested in the startup and its technology.
UVeye also has entered into a commercial agreement with General Motors to explore the expansion of its automated high-speed systems to GM dealerships throughout various markets.
The drive-through systems can detect within seconds any external or mechanical flaw and identify anomalies, modifications or foreign objects from under and from any side of a vehicle.
UVeye’s investor group includes CarMax, Meitav Dash Investments, Menora Mivtachim Holdings and Y.D. More Investments.
“GM Ventures strategically invests in startup companies that share GM’s enterprise vision of an all-electric, hands-free, and more seamlessly connected future, and are helping to position GM as a leading transportation technology enterprise,” the company said in a statement.
As part of their strategic collaboration agreement, the two companies agreed to work on a variety of vehicle-inspection technology projects involving used-car auctions, fleet operations and automotive dealership sales.
In the future, the Israeli startup said it plans to incorporate electric-vehicle and autonomous-driving platforms into its inspection databases as well.
UVeye systems use artificial intelligence, machine-learning and high-definition camera technologies to quickly and accurately check tires, underbody components and vehicle exteriors for defects, missing parts and other safety-related issues.
GM’s 4,000-plus 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.
“We are on a journey to create the best customer service experience possible and the implementation of UVeye into our dealership service lanes helps us do that,” said John Roth, GM global vice president, Customer Care and Aftersales.
“Providing real-time, consistent and accurate feedback to our customers will help us ensure they are getting the best performance out of their vehicle.”
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 its 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.
GM dealerships have access to three high-speed UVeye systems that utilize a unique combination of proprietary algorithms, cloud architecture, artificial intelligence, machine learning and sensor-fusion technologies. They include:
- Helios – An underbody scanner that detects a wide variety of problems including frame damage, missing parts and fluid leaks, as well as brake and exhaust-system issues.
- Artemis – A system that checks tire quality. Within seconds it identifies tire brand, technical specifications, air pressure, tread depth, sidewall damage, alignment issues and whether or not a vehicle’s tires are mismatched.
- Atlas – A 360-degree detection system that checks sheet metal and other external body components such as bumpers, door locks, grilles and windows.
“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.”
Early implementations of UVeye’s technology are taking place at a limited number of GM dealers in North America. As the collaboration continues, the two companies will look to expand the applications of the technology across the GM global dealer network.