Belgian deep-tech startup IVEX has raised €5 million in a Series A round to accelerate the development of its automotive safety testing technology and expand into North America and Asia. The round was backed by existing investors The Faktory and Dedicated.lu, alongside private investors, as Vestbee was informed.
- Founded in 2018 as a spin-out from KU Leuven, IVEX develops an AI-powered platform that automates the analysis of data collected during on-road vehicle safety testing.
- Its technology uses computer vision, AI, and cloud-based data processing to analyse camera, sensor, and vehicle data, helping engineers assess whether vehicles respond correctly to road conditions and applicable safety protocols.
- IVEX’s platform is designed to keep human experts involved in the testing process, allowing engineers to review the results and retain control over final assessments. According to the company, its technology can reduce engineering time spent on data analysis by more than 95%.
- The company has processed more than 100,000 kilometres of driving data and worked with over 50 vehicle models. Its technology has been deployed in on-road testing campaigns across more than 20 countries and is also used by Euro NCAP in official vehicle assessments.
Details of the deal
- The fresh capital will be used to expand the platform’s coverage of NCAP protocols, scale its data-processing infrastructure, and support IVEX’s expansion into the US and Asian automotive markets. The company plans to work with regulators, testing organisations, and automotive companies in these regions.
