Ravin.AI offers an ai-enabled vehicle inspection platform that detects, analyzes, and records damage in vehicles via standard cameras. Ravin seamlessly captures vehicle images through a mobile phone web app or by connecting remotely to CCTV cameras on a driveway. Proprietary computer vision algorithms create a 360° model of the vehicle and help generate a condition report. This includes, but is not limited to; rentals, off-lease remarketing, vehicle logistics and transport, insurance claims, and collision repair assessments.
Ravin.AI have been founded by Eliron Ekstein, Co-Founder & CEO and Roman Sandler, Co-Founder & CTO.
What problem is Ravin.AI meant to solve?
Ravin ensures trust wherever a vehicle changes hands by accurately scanning, analyzing, and reporting damages, while ensuring full transparency, reducing costs, and saving time. Ravin AI simplifies, expedites, and automates that vehicle inspection process, working alongside insurance and automotive companies.
Ravin’s primary value is in helping non-professionals (such as fleet managers, rental companies, and insurance customers) capture the condition of a vehicle and automatically create a condition report or repair estimate. This in turns helps insurers, individuals, or companies assess the damage, settle a claim quickly, save on cost, or prepare a thorough report.
What is your business model?
How do you see the current situation in that area on the insurance industry
today? What are the main problems?
Dealing with auto claims is a risky business. According to an Accenture report, you are twice as likely to leave your insurer after an incident. Insurance inspections are generally manual, subjective, slow, and result in $25B costs to the auto aftermarket industry. Ravin’s technology combines real-time data, transparency, and accuracy to consumers and insurance companies alike.
What investments have been made in the company so far?
Ravin is not currently raising. The company has raised over $30M to date from investors such as Shell Ventures, FM Capital, PICO Partners, KAR Global, and OurCrowd.
What is your current business situation?
Major customers include;
- KBC Insurance (Europe)
- Menora Insurance (Israel)
- Toyota / Lexus – N.America lease return
- Toyota – Israel
- Buggy – Rentals for Ubers (NYC)
- IAS – Auction site (US)
- Blue Car Rental (Iceland)
Which companies interest you as business partners?
Automotive fleet, remarketing, leasing, rental and insurance.