Shell Ventures, the corporate venture arm of Royal Dutch Shell PLC, has invested in Israeli autotech startup Ravin AI Ltd., the latter announced Tuesday. Shell participated in Ravin's $4 million seed round led by Pico Venture Partners and also participated by automotive entrepreneur and former executive vice president of American Traffic Solutions Inc. Adam Draizin.
Founded in 2018 and based in both Haifa and London, Ravin AI develops technology based on computer vision and deep learning designed to automatically detect and analyze car damage. Ravin's technology uses pictures of cars taken from a mobile phone or simple security cameras to create an updated image of the vehicle and provides an online damage report. It enables organizations such as rental companies to identify car damage and simplify maintenance.
