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IVEX’s €5M Series A: Faktory Funds Automotive Safety Testing AI
Belgian Euro NCAP supplier IVEX raised €5M (~$5.9M) Series A on Sep 10, 2026 from The Faktory and Dedicated.lu to export ADAS/AD safety-test automation into North America and Asia.
IVEX raised €5 million (~$5.9 million) Series A on September 10, 2026, backed by existing investors The Faktory and Dedicated.lu plus private investors (company; Automotive World). Valuation was not disclosed.
ADAS content is exploding; safety labs still burn engineer-weeks staring at camera and sensor footage. IVEX is the automation layer Euro NCAP already trusts — now trying to export that trust.
Key facts
| Field | Detail |
|---|---|
| Company | IVEX (ivex.ai) |
| Round | €5M Series A (~$5.9M) |
| Backers | The Faktory; Dedicated.lu; private investors (existing) |
| Origin | KU Leuven spin-out (2018); CEO Mario Torres |
| Proof | Euro NCAP technology supplier |
| Traction (company) | 20+ countries; >100,000 km; 50+ vehicle models; 6 patents; ISO 27001 |
| Efficiency claim (company) | >95% less engineering time on analysis (e.g. 400 hours of data with 8 hours of engineer time) |
Who uses the product — and for what job
Users: regulators and testing institutions (starting with Euro NCAP), OEMs, and suppliers validating ADAS/AD behavior.
Job: ingest multi-sensor on-road footage → automatically read road context and vehicle displays → compare signals against protocol requirements → leave final judgment with human engineers.
IVEX’s long-term product thesis is an operating system for automotive safety testing — protocols and vehicle functions as applications on shared models that improve with more data.
Why now
- Driver-assistance features are proliferating faster than manual review capacity.
- NCAP protocols keep expanding; labs need scalable, traceable scoring across countries and vehicle types.
- North America and Asia are the growth markets once a European regulatory reference exists.
Why The Faktory / Dedicated.lu — portfolio fit
This is a follow-on Series A from existing European deep-tech investors, not a Silicon Valley AI tourist check. That usually means the buyers already lived through early technical risk and are funding geographic and protocol expansion.
Board adds (company) reinforce the industrial-software path: Jan Leuridan (ex-Siemens Industry Software CEO), Omar Mohout (Deloitte), Simon Alexandre (The Faktory), and co-founder Quentin de Clercq (now AI strategy at ASML).
The Faktory and Dedicated.lu have
Competitive map
| Approach | Role | IVEX wedge |
|---|---|---|
| Manual engineer review | Still required for judgment | Automate the repetitive 95% |
| OEM in-house tools | Captive to one stack | Independent supplier used in official assessments |
| Generic CV labeling vendors | Data labeling, not protocol OS | NCAP protocol coverage + safety scoring |
What to watch
- US/Asia wins that cite local NCAP or regulator programs, not only European campaigns.
- Whether the “OS for safety testing” roadmap becomes multi-protocol product SKUs or stays custom projects.
- Independent validation of the 95% time-savings claim beyond company examples.
Sources
- IVEX announcement
- Automotive World
- FinSMEs
- Day tape: Sep 9–12 roundup · Month: September 2026 VC news
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
