SAN FRANCISCO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Launched in February 2021 in France under the brand Alloccasions, now Carviz, is a startup that has developed an unprecedented technological solution to assist professionals in the automotive distribution industry in their process of inspecting used vehicles before purchase and resale. After two years of development in France, the startup was chosen by Berkeley SkyDeck - the world's most prestigious university-affiliated accelerator - among 1% of nearly 2,000 applicants, to join the program and receive $200,000 in funding.
In France, Carviz benefited from the financial support of BPI, resulting in $300,000 in additional funds raised to support product and business development. The total of $500,000 has been accelerating Carviz’s development on three strategic fronts:
- Commercialization: already well-established in France, the company will accelerate the adoption and commercialization of its solution in the United States through its new brand, Carviz. The startup has already signed strategic partnerships with three major automotive distribution groups
- Innovation: the August 2023 US launch of the Carviz app, with its cutting edge multimodal AI and ML capabilities, will continue to be strengthened with deeper analytics, automated re-marketing for dealers, and further localization for international markets
- Teambuilding: Carviz will hire 10 engineering and commercialization staff in France and the United States by the end of 2023
"We are proud to have generated such interest from investors and dealers, especially in the United States," says Côme Pinczon du Sel, CEO of Carviz, adding, "We rely on innovation and our ability to adapt to the addressed markets to become a trusted player in the automotive inspection and remarketing industry. Our goal is to bring more transparency and reassurance to the used vehicle market worldwide. After perfecting our solution with dealers, we aim to target rental car agencies, insurance companies and individual owners directly."
Carviz was born out of the new challenges faced by professionals in the resale of used vehicles. Dealers, large and small, must contend with economic conditions, the semiconductor crisis that has led to an increase in used vehicle sales, market fluctuations, distrust between buyer and seller, and the digitization of the buying process.
To address these challenges, Carviz provides an innovative solution that is unique in the market, a fully AI solution, available on smartphones, requiring no previous expertise, and zero capex investment. Carviz meets buyer and seller needs for transparency, optimization, security, and simplification of all activities related to sale, return, acquisition and remarketing of used vehicles.
Carviz has developed an accurate, reliable and comprehensive solution for inspecting any used vehicle
The guided video inspection integrated into the mobile application, available as a white-label tool that can be re-skinned and deployed in a customer environment in under two weeks, is unprecedented in the market. It combines multiple artificial intelligences, allowing it to:
- Assess body and interior damage, tire wear, engine noise, and maintenance receipts
- Calculate the vehicle's value and estimate any necessary repair costs
- Retrieve the vehicle's purchase and accident history through a VIN scan
Completed in less than five minutes, the inspection can be done on-site by any dealer staff or remotely by the vehicle owner, if desired, via a unique link sent in advance.
Once the inspection is complete, Carviz generates a detailed digital inspection report, the criteria of which are fully customizable based on needs and include re-marketing features for such as Image quality enhancement, Background & plate replacement, 3D model generation, 360 viewer creation with hotspots.
"Our solution guides users to follow a guided video inspection process of the vehicle, which allows them to be both fast and precise, given the number of images collected,” said Evan Barberrousse, co-founder and CTO of Carviz. "Our high-value tool optimises dealer ROI by inspecting any vehicle in record time, avoiding re-acquisition errors, enabling remote inspection, and empowering remarketing with a single click. We are the only ones with this technology, which we have patented in the United States and France."
Artificial Intelligence, a reliability guarantee for individuals and professionals
The used vehicle market faces a certain level of consumer distrust regarding the reliability of offered vehicles: in the used vehicle market, it is estimated that nearly 30% of vehicles are subject to fraud and hidden defects each year. At a staggering $1.7T in total used car value sold each year globally, over $500B of used cars are projected to have unreported and underestimated damage and defects.
Recognizing this, Carviz has refined its solution and provides a high-quality inspection service to offer reassurance to professionals and individuals. Leveraging multiple AI models, the risk of fraud is reduced to almost zero through the review of over 400 checkpoints.
In addition to the advanced video technology already available within the application, Carviz will launch a groundbreaking innovation in Q4’23: the ability to record and analyse vehicle engine noises. This new feature will detect potential engine failures or malfunctions. Even subtle distortions carry their own sound pattern, which Carviz will be able to capture and compare using the company’s patented artificial intelligence models.
About Carviz Inc.
Founded in July 2023 in the US by Côme Pinczon du Sel, Carviz, is the leader of remote vehicle inspection and re-marketing, powered by multimodal AI. Its world-unique technology supports professionals in the used vehicle and distribution industry on a daily basis, facilitating purchase, sale, return, and automotive remarketing. Its digital solution generates 100% digital inspection reports with fully customizable criteria.
Carviz provides a tailored, turnkey, efficient, and cost-effective solution to professionals, enabling them to optimise their ROI by accelerating online sales, reducing vehicle immobilisation costs, increasing trust during transactions (B2B, B2C, C2C, C2B), improving the commercial productivity of teams, saving time, reducing media information costs and software accumulation, and enabling an extended vehicle approach.
Furthermore, in a used vehicle market where it is estimated that nearly 30% of vehicles are subject to fraud each year, Carviz offers reassurance to professionals and individuals through Artificial Intelligence, reducing the risk of fraud to effectively zero, reviewing over 400 checkpoints, complete with photos.
Carviz enjoys the support of renowned investors such as Berkeley SkyDeck and BPI. Carviz was selected as one of only 200 from over 20,000 applications to participate in TechCrunch Disrupt 2023 and Startup Battlefield 200, the world's most prestigious startup competition, from September 19 to 21, 2023, to showcase its innovation and pitch to hundreds of investors.
For more information: https://carviz.com/
Côme Pinczon du Sel
Whatsapp : +33 06 95 59 39 79
Whatsapp : +1 510 365 2914
Mail : come.pds@carviz.com
