Ravin.AI, a startup based in Haifa and London, has landed a $4 million funding round led by PICO Venture Partners, with participation from Shell Ventures and automotive entrepreneur Adam Draizin. The company plans to use the money to work on its product and expand to new markets across North America, Europe, and Asia.
Founded in 2018, Ravin provides computer vision-based inspection tools for car rental companies, insurance providers, car dealerships, etc. Being a software startup, it uses footage from off-the-shelf cameras, like CCTV devices and mobile phones, to create a full view of a vehicle and accurately detect damage.
Ravin claims that its technology “can be deployed quickly for new vehicle types using minimal training data” and “doesn’t rely on human users to operate the system or ask them to capture specific images, which may be biased and inaccurate.”