Volvo Cars invests in Israeli technology start-ups | Smart Highways Magazine: Industry News

Volvo Cars invests in Israeli technology start-ups

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Volvo Cars has made investments in two Israeli technology start-ups through the Volvo Cars Tech Fund, the company’s venture capital investment arm.

The technology start-ups, UVeye and MDGo, have their headquarters in Tel Aviv.

In a recent press release Volvo said that MDGo is a company specialising in what it calls medical artificial intelligence. By using advanced machine learning technology it aims to save numerous lives by making sure that people are treated according to their specific injury following an accident with their car.

This data would be transmitted to trauma physicans and emergency personnel via a cloud-based platform to improve treatment of the people involved in an accident. As such, the technology has the potential to reduce the likelihood of complications and by extension serious injuries and fatalities.

Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund said, ‘MDGo’s technology aims to do something that is close to our hearts, which is saving lives.’

Volvo said the Tech Fund’s other investment, UVeye, has developed advanced technology for the automatic external inspection and scanning of cars for damages, dents and scratches.

Volvo Cars is not only investing in the company, but is also looking at using UVeye’s technology for conducting full exterior inspection of cars after they roll out from production lines.

The company said it believes using UVeye’s technology could further improve the quality of cars leaving the factory and ensure that even tiny faults are detected. A first pilot is intended to start later this year at its manufacturing plant in Torslanda, Sweden.


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