Volvo Cars Tech invests in Israeli start-ups MDGo and UVeye
Volvo Cars has made investments in two promising Israeli technology start-ups through the Volvo Cars Tech Fund, the company’s venture capital investment arm.
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.
MDGo’s technology will combine real-time data from the car during an accident with medical knowledge with the aim to make automated early and immediate predictions on the type of injuries emergency personnel are likely to encounter at the scene of the accident.
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 is not just 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.
Volvo 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. The technology could also be used during the various steps of the logistics flow and at dealerships.