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AI vehicle inspection drives start up investment

📅 Date:

✍️ Author: @more__hybrid

🔖 Topics: Funding Event

🏢 Organizations: Ravin, Monk, ProovStation, UVEYE

Edge cases and tech layoffs might signal a difficult spell for driverless car developers, but that’s not to say that artificial intelligence isn’t booming elsewhere in the automotive industry. In January 2023, AI vehicle inspection firm, ProovStation announced that it had raised EURO 10.4 million to roll out a time-saving network of AI-assisted testing stations for the sale of used cars.

The AI vehicle inspection technology, which is housed in a drive-through design, enables car owners to receive a selling price for their vehicle in just a few minutes. Automating the vehicle valuation process means that used vehicle companies no longer need to waste time carrying out manual car inspections. Systems such as ProovStation’s automobile scanner eliminate human error and subjectivity from the vehicle valuation process, which can affect manual car inspections.

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