Security News

UVeye secures $60 Million in new investments to support further global expansion

UVeye, a supplier of high-speed vehicle inspection systems for the auto industry, has obtained $60 million in additional funding from major investors such CarMax, W.R. Berkley, F.I.T. Ventures, and institutional investors to support its global expansion plans.
CarMax, the largest used-car retailer in the U.S., joins a UVeye investor group that already includes Volvo Cars, Hyundai Motors, and Toyota Tsusho. W.R. Berkley Corporation, also a participant in previous investment rounds, is a Fortune 500 company and one of the largest commercial insurance firms in North America.
Broad range of industries
A group of Israeli institutional investors also took part in the Series C funding round. The group includes Meitav Dash Investments, Menora Mivtachim Holdings, and Y.D. More Investments. Epsilon Underwriting & Issuing, a local investment bank, led the raise.
“The completion of Series C funding represents a significant step forward for UVeye and our plans to expand in Eur…