IVEX Raises €5M to Turn 400 Hours of Crash-Test Footage Review Into 8, Then Take That to the US and Asia

IVEX, a Belgian deep‑tech company that automates vehicle safety testing, has raised 5 million euros, roughly 5.8 million dollars, in its first Series A round to accelerate its engineering roadmap and expand into North America and Asia.

The round was backed by existing investors The Faktory and Dedicated.lu, alongside a number of private investors. Founded in 2018 as a spin‑out from KU Leuven, IVEX has raised more than 6 million euros in total disclosed funding to date, including an earlier 1.2 million euro round in 2024 backed by Flemish investment company PMV, Noshaq, The Faktory, and angel investor Marc Jacobs.

IVEX was founded by chief executive Mario Torres, alongside co‑founder Quentin de Clercq, who now leads AI strategy at ASML in the United States. The company builds technology for the analysis, validation, testing, and safety scoring of vehicles, focusing specifically on evaluating Advanced Driver Assistance Systems, known as ADAS, and autonomous driving systems. Alongside the funding round, IVEX has strengthened its board of directors with Jan Leuridan, former chief executive of Siemens Industry Software; Omar Mohout, a director at Deloitte; and Simon Alexandre, a partner at The Faktory, joining de Clercq and Torres.

The problem IVEX addresses centers on a bottleneck that has grown more severe as ADAS and autonomous driving technology has become more sophisticated. Assessing these systems requires testing organizations and manufacturers to review enormous volumes of camera, sensor, and vehicle data collected during on‑road testing. Historically, that has meant engineers manually reviewing footage frame by frame, identifying road signs and driving conditions, comparing what they observe against dashboard data, and assessing how the vehicle actually responded, a process that is extremely difficult to scale without proportionally increasing engineering headcount. According to Tech Funding News, engineers previously spent roughly 400 hours examining a single batch of footage from vehicle safety tests, covering tasks like speed sign recognition and braking response. IVEX says its software can now carry out that same review in approximately 8 hours, with human supervision applied to every individual result to maintain accountability and traceability.

Torres framed the company's core value proposition around combining automation with continued human oversight rather than replacing it outright. "Vehicle safety testing generates enormous amounts of data, but much of its analysis still depends on repetitive manual work," he said. "AI and rigorous mathematical algorithms allows us to make the testing process significantly faster and more scalable while keeping engineers in control and ensuring that every result remains traceable to the original data. With this funding, we can deepen the capabilities of our platform and bring IVEX technology to North America and Asia."

IVEX's central commercial relationship is with Euro NCAP, Europe's independent vehicle safety rating body, for which IVEX supplies the technology used in official vehicle assessments. That relationship gives the company both a built‑in regulatory reference point and a credibility anchor as it approaches new international markets, and the timing of this raise lines up directly with a shift already underway within that program: Euro NCAP is introducing more stringent testing protocols for the 2026 to 2028 period that place considerably greater emphasis on evidence gathered from real‑world driving, rather than relying solely on controlled test‑track scenarios, a change that plays directly to IVEX's strength in processing large volumes of real‑world footage. According to TechTimes, Euro NCAP's test scenario requirements have more than doubled under the new protocols, and IVEX's platform has already accumulated more than 100,000 kilometers of real‑world driving data, processed data from more than 50 vehicle models, and run on‑road testing campaigns across more than 20 countries, spanning the European Union, Australia, Brazil, Japan, and the UK. The company holds six patents, including one in the United States, and is ISO 27001 certified for information security.

IVEX enters a competitive field populated by considerably larger and better‑funded companies, though most of them operate at a different stage of the testing pipeline. Applied Intuition, the Silicon Valley based simulation company, reached a 15 billion dollar valuation following a 600 million dollar round in June 2025 and leads the market for virtual, simulation‑based testing of autonomous systems. Foretellix, an Israeli company backed by Nvidia and Temasek, has raised more than 135 million dollars for scenario testing that evaluates driving systems against simulated edge cases. Sweden's Kognic has raised roughly 43 million dollars labeling the sensor data used to train these systems in the first place. Where those companies concentrate primarily on the earlier stages of development and simulated testing, IVEX operates later in the pipeline, converting actual, real‑world recordings from public roads into standardized safety scores that regulators like Euro NCAP can act on directly, a narrower but arguably more defensible niche given IVEX's existing regulatory relationship.

With the new capital, IVEX plans to direct investment across three priorities: deepening its platform's coverage of NCAP safety protocols and the underlying data infrastructure that supports them, strengthening its engineering team, and establishing commercial and regulatory presence in North America and Asia. The company's long‑term ambition extends beyond its current NCAP‑focused product, toward an AI‑powered platform where different safety protocols, testing requirements, and vehicle functions operate as modular applications running on a shared underlying data and AI infrastructure, with the company's models expected to keep improving as the platform processes data from a growing number of vehicles and driving environments. Whether IVEX's Euro NCAP relationship and real‑world testing focus can translate into equivalent regulatory relationships in the US and Asian markets, where safety testing standards and institutional structures differ meaningfully from Europe's, will be the central test of how far this expansion beyond IVEX's home continent actually reaches.