Volvo Invests in Tech Startups That Could Detect Tiny Faults and Save Lives
Volvo Cars Tech Fund has invested in two startup technology companies named UVeye and MDGo. Both of the startups are based in Israel and have been developing their businesses with the help of DRIVE, a separate company sponsored by Volvo that helps start-ups get ahead.
UVeye has been developing technology that can automatically inspect and scan the exterior of an automobile for dents, scratches, and other damages. Volvo is not just investing in this startup but also looking into using its technology to conduct full exterior inspections of its vehicles after they roll off the assembly line as an extra layer of quality control.
“Using UVeye’s technology could further improve the quality of cars leaving the factory and ensure that even tiny faults are detected,” the automaker said in a press release. “A first pilot is intended to start later this year at its manufacturing plant in Torslanda, Sweden. The technology could also be used during the various steps of the logistics flow and at dealerships.”
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MDGo, on the other hand, specializes in medical artificial intelligence. When a person is involved in a car accident, MDGo strives to combine real-time data from the car with medical knowledge to automatically make predictions about the type of injuries emergency personnel are likely to encounter at the scene.
This data would be transmitted to said personnel and to trauma physicians via the cloud to help them better treat the people involved in the accident, therefore reducing the likelihood of complications, serious injuries, and even fatalities.
“MDGo’s technology aims to do something that is close to our hearts, which is saving lives,” says Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund. “Their mission as a company seamlessly connects with ours at Volvo Cars, so we are happy to support the continued development of MDGo.”
The Volvo Group launched Volvo Cars Tech Fund last year to invest in high-potential startups around the world, with a focus on those that could transform the automotive industry with artificial intelligence, digital mobility services, autonomous driving technology, and electrification.
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