IVEX, a Belgian deep-tech startup developing AI-powered technology for automotive safety testing, has raised €5 million in funding to accelerate product development and expand across North America and Asia. Existing investors The Faktory and Dedicated.lu participated alongside private investors.
Founded in 2018 as a KU Leuven spin-out, IVEX uses computer vision, AI and cloud-based data processing to automate analysis of camera, sensor and vehicle data generated during testing of advanced driver assistance and autonomous driving systems.
Automating Automotive Safety Testing
IVEX technology analyzes road conditions, traffic signs, vehicle displays and other signals before comparing the data with applicable safety requirements. A human-in-the-loop approach keeps engineers responsible for final assessments while reducing repetitive data analysis.
The platform can reduce engineering time spent on data analysis by more than 95%. In one deployment, IVEX processed 400 hours of multi-sensor driving data with eight hours of engineering work.
“Vehicle safety testing generates enormous amounts of data, but much of its analysis still depends on repetitive manual work,” said Mario Torres, co-founder and CEO of IVEX. “AI and rigorous mathematical algorithms allows us to make the testing process significantly faster and more scalable while keeping engineers in control and ensuring that every result remains traceable to the original data. With this funding, we can deepen the capabilities of our platform and bring IVEX technology to North America and Asia.”
Expanding Across Global Automotive Markets
IVEX supplies technology used in official Euro NCAP vehicle assessments and has supported on-road testing across more than 20 countries. The platform has processed data covering more than 100,000 kilometres and over 50 vehicle models.
The new capital will support additional NCAP protocols, larger-scale data processing and expansion into the United States and Asian markets. IVEX plans to work with regulators, testing institutions and automotive companies while developing an AI-powered operating system for automotive safety testing.
Strengthening Industry Expertise
Alongside the financing, IVEX expanded the Board of Directors with Jan Leuridan, former CEO of Siemens Industry Software NV; Omar Mohout, Director at Deloitte; Simon Alexandre, Partner at The Faktory; and co-founder Quentin de Clercq, currently leading AI strategy at ASML in the United States. CEO and co-founder Mario Torres remains on the board.