Tchek is focusing exclusively on software and artificial intelligence by licensing the vehicle scanners to Instavalo

‍Tchek is focusing exclusively on software and artificial intelligence by licensing the vehicle scanners to Instavalo, a German based vehicle appraisal company.‍

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Paris, May 31, 2024 – Tchek, a benchmark in vehicle inspection solutions based on artificial intelligence, proudly announces the conclusion of a long-term licensing agreement with Instavalo, a joint venture of the Hüsges-Gruppe in Willich and from MCON in Munich. This agreement provides Instavalonon-exclusive rights to develop, produceand distribute vehicle and underbody scanners.

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Close collaboration in the field of Artificial Intelligence (AI)

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Under this strategic agreement, Instavalo will also manage Tchek's existing vehicle scanner customers. This technology transfer marks another step towards the complete automation of vehicle condition assessments, an essential component in increasingly digital business models. Tchek's AI will be integrated into the standard configuration of the new Instavalo scanners.

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Tchek continues on this path by providing its artificial intelligence to scanners or fixed cameras already present on the market.

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Strategic focus on Innovation and Technology for Tchek

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Tchek is thus announcing a major strategic transformation in order to strengthen its position in the vehicle inspection market using artificial intelligence based on photos and videos. This strategic decision reflects the company's continued commitment to imaging innovation, customer satisfaction and shareholder value creation. This pivot includes a reorientation of its resources towards the development of digital solutions and artificial intelligence models.

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About Tchek

Tchek simplifies vehicle inspection and remarketing by leveraging its own imaging and AI technologies. DeepTech develops solutions adapted to the needs of automotive, mobility and insurance professionals. Among these, AI-assisted vehicle inspection, which detects damage, its severity, assesses repair costs and produces a complete report. A technology accessible via API or white label web application to carry out AI-assisted inspections remotely or on site. Tchek Remote Inspection via Self-Inspection has more than 95% user satisfaction and a detection rate of up to 95%. Today, Tchek’s ALTO AI technology is available in more than 10 countries, making the company the European benchmark for remote AI-assisted digital inspection. Its clients include Toyota France, Emil Frey, Toyota Financial Services UK, CGI Finance, BCA Remarketing and Volkswagen Financial Services France.

For more information: www.tchek.ai

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About Instavalo

Instavalo is a joint venture between Hüsges-Gruppe and MCON, offering complete digitalization of vehicle inspections and assessments through vehicle scanners, apps and digital journeys.

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About the Hüsges-Gruppe

With more than 60 years of history and third-generation expertise in automotive expertise, the Hüsges-Gruppe has a network of more than 500 experts in more than 170 locations across Germany.

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About MCON

MCON, active for more than 20 years in the field of automotive IT and marketing, operates internationally with locations in Germany, the Czech Republic, Switzerland, China, Korea, Japan and Mexico. CARDESS®, developed by MCON, is a modular SaaS platform covering CRM, lead generation and conversion, purchasing and service.

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