Driver fatigue monitoring technology firm Seeing Machines Limited (LON:SEE) is to hook-up with car safety specialist Autoliv in the field of autonomous vehicles.
The collaboration will result in Seeing Machines’ driver monitoring systems technology, based on its FOVIO platform and processor, being used to enhance Autoliv’s existing Advanced Driver Assistance Systems (ADAS).
Autoliv will serve as a Tier 1 integrator of Seeing Machines technology, and overall system supplier to original equipment manufacturers (OEMs).
"The collaboration between Seeing Machines and Autoliv is an excellent fit within our expanding partnership ecosystem. Both companies are technical leaders deeply committed to advancing safer driving through the development and deployment of our advanced DMS technologies for Automotive OEMs," said Mike McAuliffe, chief executive officer of Seeing Machines.
Johan Löfvenholm, president of Autoliv Electronics, said the collaboration should result in fewer accidents occurring as a result of drivers being distracted.
“We both share a passion for saving more lives, and together, we will create one of the most advanced driver monitoring systems in the world," he declared.
House broker finnCap revealed management is suggesting it could significantly increase the scale of its OEM prospects should it receive additional funding.
The broker said Seeing Machines is investigating strategic investment opportunities.
“We expect heavy spending to continue, as the company highlights that it intends to invest A$50mln over the next two years to accelerate platform and product development, but turning EBITDA-positive by the end of FY 2019,” finnCap said.
The broker added that Seeing Machines’ recent results “give us increasing comfort that Guardian will become a major global business, building a revenue base and generating profit whilst allowing the OEM automotive business to scale up over the next few years”.
Shares in Seeing Machines were unchanged in late morning trading.
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