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Norwegian logistics giant invests in Exeter automotive tech firm DeGould

Exeter automotive tech firm DeGould has received £6m from investors which will enable it to accelerate its growth.

The company, based on the Sowton Industrial Estate, has completed its third round of funding to accelerate its supply of automated vehicle inspection systems, powered by AI.

DeGould is the global leader for OEM (original equipment manufacturer) automated vehicle inspections. During the past eight years DeGould has captured more than 100million vehicle image sets on behalf of its customers.

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The highest resolution images in the industry are combined with AI algorithms to deliver full vehicle condition reporting. The company’s latest product, the new Auto-compact system, incorporates this technology and sets new standards for defect detection.

Norwegian logistics sector giant Wallenius Wilhelmsen has now joined existing investors in providing £6m of capital in this third round of funding to accelerate the growth in DeGould.

Ed Jones, chief executive at DeGould, said “We are excited by the growth opportunity ahead of us and are especially pleased that Wallenius Wilhelmsen will join us on this journey.

“They have been a really supportive partner and we look forward to working together even more closely to strengthen our leading position in automated vehicle inspections.”

DeGould continues to attract significant interest from companies in the automotive value chain looking to automate their vehicle inspection process.

This new funding enables DeGould to capitalise on this demand, invest in product development and scale up the business to provide exceptional customer value.

“We continue to digitize critical components of our finished vehicle logistics processes and the investment in DeGould is an important milestone in our strategy”, said Mike Hynekamp, executive vice president and chief operating officer logistics services at Wallenius Wilhelmsen,.

“We believe investing in DeGould creates significant value for our mutual current and future customers by enhancing our capabilities in bringing end-to-end, integrated supply chain solutions to market.”

Business Live’s South West Business Reporter is William Telford. William has more than a decade’s experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.

To contact William: Email: [email protected] – Phone: 01752 293116 – Mob: 07584 594052 – Twitter: @WTelfordHerald – LinkedIn: www.linkedin.com – Facebook: www.facebook.com/william.telford.5473

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DeGould is a privately held British company founded by Dan Gould. A team of more than 40 comprises experts in engineering, machine learning, computer vision, and software development. The company supplies market-leading solutions to a range of OEM and finished vehicle logistics customers. Systems have been installed across three continents for customers, including Wallenius Wilhemsen, JLR, Bentley, Daimler and Ford Motor Company.

Wallenius Wilhelmsen ASA is a global provider of ocean and land-based logistics services within the RoRo industry. The company employs 8,700 people in 29 countries, worldwide, and controls 130 vessels, alongside nine terminals, 65 processing centres, and a global inland distribution network. Wallenius Wilhelmsen ASA is listed on Oslo Stock Exchange.

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