Self Inspection Raises $3M for AI-Powered Vehicle Inspections

Revolutionizing Vehicle Inspections with Artificial Intelligence

Numerous startups are currently focused on accelerating and simplifying the vehicle inspection process, while simultaneously reducing costs. Self Inspection, a San Diego-based company, believes its AI-powered solution offers a superior approach, and this belief has now attracted investment.

Securing Seed Funding

Founded in 2021, Self Inspection is announcing a $3 million seed round led jointly by Costanoa Ventures and DVx Ventures, the latter managed by Jon McNeill, formerly of Tesla. Westlake Financial, processing over one million vehicle transactions annually, also participated in this funding round.

Karim Bousta, a partner at DVx Ventures, highlights the potential for disruption within the traditional vehicle inspection sector. He asserts that Self Inspection’s technology streamlines operations for lenders, dealerships, and rental companies, establishing a new standard for quality, reliability, and a user-friendly digital experience in the $30 billion vehicle inspection market.

Validation and Expansion Plans

According to CEO Constantine Yaremtso, this seed funding serves as confirmation of the technology the company has been developing over the past several years. Self Inspection already provides its services to prominent clients including Avis, CarOffer (a digital wholesaler owned by CarGurus), and Westlake Financial.

Yaremtso stated that the funding will primarily be used for expansion, growth, and scaling of the company’s operations.

A Distinct Approach to AI Inspection

Self Inspection’s methodology differs significantly from that of UVEye, which recently secured $191 million for its AI-driven, drive-through inspection system.

Unlike UVEye, Self Inspection primarily utilizes a smartphone camera, although its software can also integrate data obtained from a vehicle’s OBD2 port.

Leveraging Extensive Data for Accurate Assessments

The company’s AI models have been trained using a vast dataset of images depicting damaged vehicles. This allows for rapid damage detection and severity assessment, culminating in a cost estimate and a comprehensive vehicle inspection report.

“The reports we generate are comparable to those typically provided by a body shop,” Yaremtso explained. “They detail the necessary labor, repair costs, and required parts for any identified damage.”

Configurability and User Experience

Self Inspection’s service is designed for both simplicity and customization, differentiating it from competitors such as Ravin, according to Yaremtso.

This means the software isn’t a rigid, one-size-fits-all solution.

Customizable Inspection Protocols

Customers benefit from a sophisticated back-end configurator. For example, fleet operators or vehicle marketplaces can prioritize inspection of areas prone to wear and tear, or incorporate checks to ensure an electric vehicle’s charging cable is properly stored, all through a simple drag-and-drop interface.

Ease of Use and Accessibility

Self Inspection prioritizes user-friendliness.

The software doesn’t impose restrictions on the user’s distance from the vehicle during photo or video capture, unlike some competing services. Currently, it operates directly within a smartphone’s web browser, accessed via a texted or emailed link, eliminating the need for a dedicated app.

“Virtually everyone possesses a capable camera and smartphone, and is familiar with capturing images,” Yaremtso noted. “Our goal is to empower marketplaces and financial institutions with a tool that simplifies inspections and accelerates the sales process.”