IVEX has raised €5 million in Series A funding from existing investors The Faktory and Dedicated.lu, along with private investors. The Heverlee-based startup will use the capital to accelerate its engineering roadmap and expand into North America and Asia.
The company provides an AI-powered platform that automates analysis of camera, sensor, and vehicle data for automotive safety testing, reducing manual work by over 95%. Founded in 2018 as a KU Leuven spin-out, IVEX is a trusted supplier to Euro NCAP and has processed data from more than 50 vehicle models across 20 countries.