Volvo Cars is investing in two Israeli technology start-ups through the Volvo Cars Tech Fund.
UVeye and MDGo have headquarters in Tel Aviv, and developed their business with DRIVE, an ‘accelerator’ for young companies in the mobility sector.
MDGo specialises in medical artificial intelligence, by using advanced machine learning technology it aims to save lives by making sure people are treated correctly following a car accident.
The technology will combine real-time data from the vehicle during an accident with medical knowledge. It’s working to predict on the type of injuries emergency personnel are likely to encounter at the scene.
The data will be transmitted to physicians, doctors, and emergency personnel through a cloud-based platform to improve treatments.
“MDGo’s technology aims to do something that is close to our hearts, which is saving lives,” Volvo Cars Tech Fund chief executive Zaki Fasihuddin says.
“Their mission as a company seamlessly connects with ours at Volvo Cars, so we are happy to support the continued development of MCGo.”
UVeye has developed advanced technology to scan cars for damage, dents and scratches.
Volvo Cars is looking at using UVeye’s technology for conducting full exterior inspection of cars after they roll out from production lines. The technology could further improve the quality of cars leaving the factory and can identify even tiny faults.
“Premium quality standards are at the core of the Volvo brand and we are intrigued by the possibilities that UVeye’s technology offers,” Fasihuddin says.
“This type of advanced scanning technology could allow us to take the next step in quality.”
The Volvo Cars Tech Fund was launched last year and focuses its investments on strategic technology trends in the automotive industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services.
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