KAR Auction Services announced a strategic investment and commercial partnership with Ravin AI, an international provider of artificial intelligence solutions for vehicle inspections.
Ravin AI offers artificial intelligence solutions for vehicle inspections for diverse fleet, insurance and remarketing customers around the world, according to the company. The partnership is designed to enhance KAR’s data-driven digital capabilities and will streamline the flow of inspection information, data and images throughout the entire remarketing lifecycle for the company’s customers.
“Ravin AI has developed the most powerful and progressive computer vision, deep learning, and self-inspection solutions on the market. These tools will accelerate and enhance the vehicle inspection process, helping our customers make smarter, more informed selling and buying decisions and achieve better outcomes,” said Peter Kelly, president of KAR Global.
The addition of Ravin to KAR’s portfolio adds mobile-based artificial intelligence capabilities for damage detection and vehicle representation through a self-inspect or company-inspect model, the company said. This flexibility and interoperability with customer and third-party systems allows widespread application of Ravin’s technology across the remarketing sector and broader automotive industry.
Key applications include data-rich tools for end-of-lease processing, pre-auction inspections, dealer aftersales, fleet maintenance and condition monitoring. Ravin currently supports some of KAR’s North American commercial customers, and the companies plan to accelerate product development while expanding the use and adoption of Ravin’s technology.
“We’re proud to be part of KAR’s disruptive digital strategy, and we look forward to empowering their North American commercial, financial, fleet, rental and dealer customers with our innovative inspection solutions,” said Eliron Ekstein, co-founder and CEO of Ravin AI.