A number of startups are racing to make vehicle inspections faster, easier, and cheaper. Self Inspection, a startup based in San Diego, thinks it has them all beat with its AI-powered service — and now it has convinced outside investors.
Self Inspection, founded in 2021, is set to announce Thursday it’s raised $3 million in seed round co-led by Costanoa Ventures and DVx Ventures, the firm run by former Tesla president Jon McNeill. Joining the round was Westlake Financial, which handles more than one million vehicle transactions annually.
Karim Bousta, partner at DVx Ventures, believes the traditional vehicle inspection process is ripe for innovation. Self Inspection’s technology is “not only streamlines operations for auto lenders, dealerships and rental companies, but also sets a new benchmark for quality, reliability and a seamless digital experience in the $30 billion vehicle inspection market,” Bousta said in a statement.
The seed round is validation of the tech the company has been working on for the last few years, CEO Constantine Yaremtso told TechCrunch. Self Inspection already counts Avis and CarOffer (a digital wholesaler owned by CarGurus) as customers, along with Westlake Financial.
“Basically we’re going to start expanding, growing, and scaling,” Yaremtso said about the funding.
Self Inspection has taken a much different path from UVEye, which recently raised $191 million for its AI-powered drive-through inspection technology.
Self Inspection only needs a smartphone camera, although its software can also leverage data pulled from a car’s OBD2 port.
The company trained its AI models on what it describes as “one of the largest datasets of damaged vehicles.” Those models can quickly detect damage and assess the severity, before generating a cost estimate and “one of the most thorough vehicle inspection reports available in the industry.”
“What we deliver i …