Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) has secured its 17th automotive programme award worth US$30 million over its lifetime.
It brings the running total of contracts to US$366 million, with most of that revenue expected between now and 2028.
The eye-tracking technology specialist said the latest deal is with an existing unnamed European Tier-1 customer and will serve a new European original equipment manufacturer (OEM) with production starting in 2026.
Using the company's FOVIO e-DME software library (embedded Driver Monitoring Engine), the initial focus of this automotive programme will be on developing enhanced regulatory-focused Driver Monitoring System (DMS) features. These are set to be implemented across multiple new car models.
"We continue to work closely with our small ecosystem of Tier-1 customers, where deep relationships underpin joint pursuit of business and ensure our ability to deliver, which is very important as regulatory deadlines in Europe fast approach," said Nick DiFiore, the senior vice president of Automotive at Seeing Machines.
"We also focus on being able to support our customers well into the future, so having the ability to expand feature sets, in this case to incorporate occupant monitoring at a minimum, is very pleasing."