AUSTIN, Texas, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Ravin AI, a leading innovator in AI-driven vehicle inspection tools, has been granted a U.S. patent for its groundbreaking car inspection DeepDetect™ solution. This patented technology uniquely leverages the power of stationary and mobile cameras with advanced deep learning AI algorithms to significantly enhance the accuracy of vehicle reports, fostering greater transparency among car users, service providers, and businesses.
The DeepDetect™ solution represents a major leap forward in vehicle damage assessment, and was granted a patent in Europe last year. It utilizes stationary and mobile cameras to capture images of a vehicle, subsequently generating a comprehensive damage report through a sophisticated algorithmic comparison with a computed vehicle model. This process facilitates the inspection of individual vehicle parts in motion, ensuring unparalleled report accuracy without constraining image capturing angles.
Ravin AI's patented technology has been implemented across various contexts, including used car dealerships, auctions, fleet management, car rental, insurance companies and repair shops. By enabling faster and more reliable insurance claims, ensuring fairer used car pricing, and providing transparent experiences for car renters, the DeepDetect™ solution is setting a new industry standard.
"Obtaining this U.S. patent is a testament to Ravin AI's commitment to innovation and excellence in the field of AI-powered visual vehicle inspection," remarked Eliron Ekstein, CEO and Co-founder of Ravin AI. "Our DeepDetect™ solution is not just a tool; it’s a transformative technology that's making vehicle appraisal more coherent, trustworthy, and user-friendly. We are proud to contribute to the enhancement of operations and customer experiences across various sectors, from fleet managers and insurance firms to car rental agencies."
With the inclusion of both stationary and mobile solutions, Ravin AI's patented technology is adaptable and versatile, ensuring comprehensive vehicle inspection regardless of the context or location. As we continue to pioneer advancements in AI-driven vehicle inspection, Ravin AI remains dedicated to delivering solutions that drive efficiency, accuracy, and transparency in vehicle damage assessment and reporting.
About Ravin AI:
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. For more information, visit Ravin.ai
Weblink to press release: https://www.ravin.ai/blog/ravin-ai-secures-u-s-patent-for-pioneering-car-inspection-deepdetect-tm-solution
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