The investment in UVeye was made by the automaker’s venture fund, GM Ventures, which has also made investments in various other AI-themed startups.
As part of the partnership, GM will sell UVeye’s technology to its dealer network to enhance its vehicle inspection system. In addition, GM will cooperate with UVeye on various vehicle inspection technology projects, which involve used car auctions, fleet operations and car dealership sales.
According to pictures and videos provided by UVeye, the company’s technology looks like an airport body scanner. Cars drive past the scanner, which has lights inside, and within minutes, the service provider can deliver a detailed report of all the problems with the car being inspected — even tire pressures.
The UVeye system uses AI, machine learning and high-definition cameras to enable fast, accurate inspections of tires and vehicle underbody and exterior defects, missing parts, and other safety-related issues.
GM said UVeye’s technology will be provided to 4,000 dealers across the United States. Earlier this year, the Israeli company struck a deal with a major auto retail management system used by more than 15,000 dealerships in the United States.
It’s not just GMs who see the potential of UVeye’s high-tech inspection system. Last year, the company closed a $60 million Series C round with investors including CarMax, W.R. Berkley and F.I.T. Ventures.
