Hyundai Motor Invests in Israeli Startup

Securing 'YouB-I' Deep Learning Vehicle Inspection System

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] Hyundai Motor Company has invested in Israeli AI-based scanner specialist startup ‘UVeye’. This investment is interpreted as a commitment to securing a deep learning-based vehicle inspection system to check for defects before vehicle delivery.

On the 19th (local time), UVeye announced that it had raised $40 million (approximately 44 billion KRW) in investment from Hyundai Motor and others. Although UVeye did not disclose the detailed investment amounts by each company, it is reported that Hyundai Motor invested more than half. UVeye is a startup that manufactures AI-equipped vehicle scanners. When a vehicle passes over a panel equipped with high-resolution cameras and LED lights, the scanner analyzes images using deep learning technology to check for vehicle malfunctions and the condition of parts.

Amir Hever, co-founder of UVeye, stated, "We have fast and accurate scanning capabilities based on deep learning systems," adding, "We are especially pleased to partner with Hyundai Motor and work on this project together."

Hyundai Motor plans to actively utilize UVeye’s scanners at sites where vehicle management is frequently conducted, such as production plants and customer centers. In particular, it is expected that using the scanner to inspect vehicles before delivery to customers will enable early detection of defects. A Hyundai Motor official said, "Although experts conduct inspections before vehicle delivery, there may be limitations," and added, "We expect to inspect more accurately with a deep learning-based system."

Meanwhile, Hyundai Motor has been building a collaboration system with creative local startups based on the open innovation center ‘Hyundai Cradle Tel Aviv’ established in Israel in November 2018.

This content was produced with the assistance of AI translation services.