Vehicle Inspection Firm UVeye Raises $60 Million in New Round

UVeye, a company that uses artificial intelligence to do fast vehicle inspections, has raised $60 million from investors including used car retailer CarMax Inc. and the insurer W.R. Berkley Corp.

“The completion of Series C funding represents a significant step forward for UVeye and our plans to expand in Europe and the U.S.,” Amir Hever, UVeye’s chief executive officer and co-founder, said in a statement Wednesday.

The funding values the company at $300 million to $500 million, according to a person familiar with the matter who asked to not be identified because the valuation isn’t public. A representative ...