The developer of the Israeli vehicle examination system, which is driven by artificial intelligence Lofty Today, it announced the completion of a $ 191 million financing round, including royal rights worth $ 41 million and 150 million dollars. Stock financing by woven capital with the participation of UMC Capital and Myberg has led alongside the current investors WR Berkley and Menora Mivtachim and more investment. Trinity Capital organized a debt facility of $ 150 million. This reaches the total capital raised by the company to $ 380.5 million.
The latest funds will support UFA efforts to meet the global demand for its innovative systems and unify its location as a pioneer in the market in this industry, as the company approaches a million light -woven vehicles every month.
Ovy was founded in 2016 by CEO Amir Hefler and his brother Udhah Hfeel. The company has developed “MRI for vehicles”, which provides accurate visions that depend on data by wiping all the components of visible vehicles within seconds. These platforms that work through advanced artificial intelligence, change the safety and efficiency of vehicles, through agents, auctions, and a group of other industries.
The company’s inspection system includes three main products – a tire scanner, a car body scan, and the internal inspection system is used primarily for vehicle sales. “The regime creates complete transparency with the customer,” explains Amir Haveer. “Instead of a manual examination that depends on the person of the service, the customer receives an accurate picture of the car’s condition and can decide what to fix it and when.” “Our system combines complex images processing with artificial intelligence with a unique algorithm that we have developed. The model is constantly trained, with millions of examination that have already been carried out, allowing a very high level of accuracy.”
Today, the system is installed in more than 400 car agents in the United States and is also used by the Amazon e -commerce, which it uses to inspect its fleet of delivery compounds. “This is the largest cooperation between an Israeli company and Amazon, and is taking place in the United States, Canada and Germany,” Hefler notes. The cooperation was supposed to be announced in October 2023, but it was postponed due to the outbreak of the war in Israel. According to him, “We were under the radar for a long time. Although we appeared on the Amazon website, which announced that all Amazon vehicles will be wiped by Israeli technology, in Israel barely talked about it.”
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The company currently has about 220 employees worldwide, including 120 at the Development Center in Israel. According to the company, funding will be used mainly to finance additional systems production, as the company’s revenue form depends on subscriptions. Ofi also plans to expand its operations in Europe.
It was published by Globes, Israel Business News – En.globes.co.il – on January 29, 2025.
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