Hyundai Motor has made an investment in Israeli manufacturing technology company UVeye, according to local reports.
South Korea's leading automaker participated in the Tel Aviv-based startup's recent US$40m fundraising round, along with other strategic and financial investors.
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UVeye, which began operations four years ago, develops automated vehicle inspection systems for vehicle assembly plants, dealerships and vehicle auction centres.
Its drive-through system combines artificial intelligence, cloud architecture, machine learning and sensor fusion technologies to help standardize and speed up vehicle inspection processes.
Hyundai is said to be looking to adopt this system for its global production lines.
UVeye CEO and co-founder Amir Hever said in a statement "we are especially proud to be partnering with Hyundai Motor on exciting projects around the world that enable quick and efficient inspection of vehicles using deep learning and computer vision".
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By GlobalDataHyundai Motor had been very active in recent years in investing in early-stage technology startups companies around the world, including in Israel where it has invested in Autotalks, an automotive semiconductor design firm, and Opsys Technology, a lidar control device and sensor developer.
