Lyon-based AI-assisted vehicle testing solution provider ProovStation has raised €10.4 million in a Series A funding round that will see the company develop a network of its vehicle scanners and expand internationally.
ProovStation’s €10.4 million Series A round was led by Supernova Invest, alongside Otium Capital, through its Industrial Venture fund, and Crédit Agricole Création Centre-Est.
Circumventing the manual, subjective and time-consuming process that can take up to 30 minutes and packaging it all into one of industrial speed and quality capable of managing several hundred vehicles per day on a global scale, ProovStation can inspect a car to find scratches, dents and make a complete assessment of its exterior with millimetre precision - including tyres and other damages that are invisible to the naked eye, all in 3 seconds.
To put that into perspective, in just over a fraction of the time it takes a world-class F1 pit team to swap out and replace four tyres, ProovStation can inspect an entire automobile.
Already installed in several carrefour car parks across France, Proovstation’s automobile scanners, enhanced by the Michelin Quickscan technology, which automatically tests tire wear, are available free of charge.
“We are proud of closing this funding round, which will allow us to give each driver access to our service within less than 30 minutes of their homes,” says Cédric Bernard, CEO, and co-founder of ProovStation. “Thanks to these funds, we will be able to invest in our technology to reinforce our international leadership. They will also give us the means to accelerate our expansion in the automotive industry to boost our already vigorous growth”.