New York funding news: Consumer electronics and sustainability top recent local investments
Photo: UVeye/Facebook
New York-based transportation company UVeye has secured $31 million in funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 22 and led by W. R. Berkley.
According to its Crunchbase profile, "UVeye provides high-end solutions for automatic external inspection of vehicles, using advanced technologies that include proprietary hardware combined with machine learning and computer-vision algorithms. UVeye’s first line of products, deployed all over the world, enables customers to automatically scan, detect and identify anomalies, modifications or foreign objects in the undercarriage of any vehicle. The technology and the product are applicable to multiple markets, specifically Homeland Security & Defense (HLS) and Automotive."
The three-year-old startup also raised a $4.5 million seed round in 2017.
The round brings total funding raised by New York companies in consumer electronics over the past month to $58 million. The local consumer electronics industry has produced 62 funding rounds over the past year, yielding a total of $686 million in venture funding.
In other local funding news, renewable energy company EMPEQ announced a $500,000 grant on July 17, financed by NYSERDA.
According to Crunchbase, "Empower Visibilitysm is the engine that drives the UnFinancing program. Their first-in-class energy efficiency and CHP financial evaluation and finance platform was developed by the EMPEQ management team as software to bring clarity to the economic feasibility of commercial and industrial energy efficiency projects in a fraction of the time offered by other solutions."
Founded in 2016, the company has raised four previous rounds, including a convertible note round earlier this year.
This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.
