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Ravin Ai Secures Investment From Iag Firemark Ventures To Provide Ai-Powered Vehicle Inspection Solutions For Retail Customers & Commercial Fleets

May 11, 2023•about 2 years ago
LondonAutomotiveMachine LearningArtificial Intelligence

Investors

Firemark Ventures

Description

Ravin AI, a leader in deep learning vehicle inspection technology, secured today its first Australian Investment from Firemark Ventures, the corporate venture capital arm of IAG, the largest insurer in Australia and New Zealand.

Company Information

Company

Ravin AI

Location

London, Ontario, Canada

About

Ravin AI is an international provider of automated artificial intelligence solutions for vehicle inspections serving diverse fleet, insurance, and remarketing customers around the world. Unlike other marketplace solutions, Ravin does not require its customers to purchase or install dedicated hardware but rather uses mobile and CCTV cameras. Ravin AI was founded in 2018 by Eliron Ekstein and Roman Sandler, and has raised $30M to date from investors including KAR Global (owner of ADESA auctions, AutoVIN inspection and more), PICO Venture Partners, FM Capital, and Shell Ventures. Strategic partners include Toyota Financial. For more information, visit Ravin.ai.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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