UVeye, a startup that uses AI-driven technology to inspect vehicles to avoid defects and target repairs, said on Wednesday it has raised $191 million in debt and equity to scale up production in North America and Europe.
The company’s $41 million funding round was led by Woven Capital, the investment arm of Toyota and its $150 million debt facility was structured by asset management firm Trinity Capital.
The latest funding brings UVeye’s total capital raised to $380.5 million.
UVeye, based in Teaneck, New Jersey, runs what it calls an “MRI for vehicles,” using external scanners