IVEX has raised €5m (US$5.9m) in a Series A round to widen its coverage of vehicle safety testing protocols and take its technology into North America and Asia. The deep-tech firm, which supplies Euro NCAP with technology used in official vehicle assessments, will also put the money towards scaling its data processing platform.

The Faktory and Dedicated.lu, both existing backers, funded the round alongside private investors. IVEX builds tools that validate, test and score vehicle safety performance, with a focus on assessing advanced driver assistance and autonomous driving systems.

Its platform has run in on-road campaigns across more than 20 countries, spanning the European Union, Australia, Brazil, Japan and the UK. The Euro NCAP relationship underpins the planned expansion, giving the firm a regulatory reference point as it approaches new markets.

Four directors have joined the board: Deloitte Director Omar Mohout, The Faktory Partner Simon Alexandre, co-founder Quentin de Clercq, who leads AI strategy at ASML, and Jan Leuridan, formerly Chief Executive of Siemens Industry Software NV. They join co-founder and Chief Executive Mario Torres.

Torres said: “Regulators, testing institutions and car makers need objective and scalable ways to evaluate the safety performance of vehicles. This funding lets us bring the technology we’ve built to North America and Asia, and support the stakeholders doing this work there.”

Source: IVEX