Tchek, a leading European DeepTech startup in car inspection using high-level artificial intelligence, announces a €3 million financing round. The round is led by Demeter, alongside Region Sud Investissement, advised by Turenne Group, and banking players.
Its technological creation, unique on the market, has coded a damage assessment specific to each business by cross-referencing data between Machine Learning (AI), visual recognition and business logic through a precursory decision tree. This inspection system analyses any vehicle photo in order to generate a diagnosis of impacted parts and localized damage, in almost real time and at any time.
This intelligence, specific language, is transverse to all Tchek products and has already convinced more than fifteen major European players in automotive rental, logistics and distribution. Indeed, the recent pandemic has reinforced the need for digitalization and automation from photo taking to claims management, by scan and smartphone according to the chosen support modules.
This fund raising will enable the company to meet the strong demand for its solutions by strengthening its R&D teams and will take advantage of this first round to continue its growth in three vertical sectors:
With the emergence of "Mobility as a Service" (MaaS) and the massive adoption of car-sharing, mobility operators, users and also insurers are looking for a liability transfer solution adapted to these new uses and Tchek perfectly meets these new expectations. The financing will technologically reinforce its market-approved comparison module, offering a complete suite adapted to all types of agencies.
Today, more than 5 billion inspections are carried out each year. Before a vehicle is put on the market, it undergoes an average of 11 inspections (factory exit, distribution, etc.). Challenged by regulations, the energy transition, the transformation of uses and technologies (automated factories, connected cars, rental and car-as-a-service, etc.), the automotive sector had been undergoing profound change for several years. Tchek industrializes and automates an expensive journey with a productivity solution that exceeds human capacities through its precision and neutrality.
Tchek continues its mission of extending human capacities through damage recognition and 3D vision to enhance the value of a vehicle. The technology will power 100% digital platforms with the launch of its application. Tchek accompanies and automates part of their customer journey: inspection in case of trade-in. A support from taking pictures to assessing the condition of a vehicle, without interference and without contact.
