DriveX is an Estonian startup founded in 2019 by Rauno Sigur, Kentti Koppel, and Valter Läll that builds AI-assisted technology for remote vehicle inspections. Its platform digitises and automates pre-inspection processes using image recognition to validate applicant-provided vehicle condition data. The company says it can save insurers up to 90% of inspection costs and is currently focused on the global auto insurance market, estimated at more than $880 billion. DriveX already serves large insurance customers including BTA (Vienna Insurance Group), ERGO (Munich Re), and BALTA (PZU Group) across Estonia, Latvia, Lithuania, Croatia, and Romania. The startup plans to expand across Europe—targeting Poland, Czechia, and Romania to strengthen its position in CEE—and to pursue markets in Africa and the Middle East. It is preparing to roll out an automated visual damage detection feature intended to reduce fraud in vehicle inspections and transform processes around vehicle transfers.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2022