viewSeeing Machines Ltd.

Seeing Machines awarded expanded programme for driving monitoring system

Revenues from the expanded program are expected to exceed around £13mln

Seeing Machines Limited - Seeing Machines awarded expanded program for driving monitoring system
FOVIO uses machine vision technology to monitor driver awareness

Seeing Machines Limited (LON:SEE) has been awarded an expanded programme for its FOVIO driver monitoring system (DMS) with an existing customer, a European original equipment manufacturer.

The AIM-listed firm said a new Tier 1 supplier would deliver its FOVIO system to the original equipment manufacturer (OEM) client for additional car models, due to enter production in 2022, while “incremental” revenue from the program was expected to exceed A$23mln (£12.7mln).

READ: Seeing Machines' results to be slightly ahead of expectations

The company now has nine automotive OEM production deals across six customers, from which it expects to deliver over A$200mln (£110mln) in revenue.

Nick DiFiore, senior vice-president and general manager of Seeing Machines’ automotive division, said the firm was “delighted” to be expanding its relationship with the OEM and to be working with the new supplier as it grew its automotive supply chain relationships.

FOVIO uses advanced technology to analyse and measure eye and head movements to interpret a driver’s awareness on the road and provide assistance if needed.

The shares were motoring in early trading on Monday, rising 3.6% to 4.2p.

Quick facts: Seeing Machines Ltd.

Price: 4.275 GBX

Market: AIM
Market Cap: £143.86 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Seeing Machines Ltd. named herein, including the promotion by the Company of Seeing Machines Ltd. in any Content on the Site, the Company...



Guardian cost reductions will make a material difference to cashflow says...

Seeing Machines Limited (LON:SEE) chief executive Paul McGlone and Pat Nolan, GM Aviation, explain the face monitoring tech company is now moving to delivery from R&D. McGlone expects a significant reduction in the cost of its Guardian commercial vehicle fatigue monitor to have a material...

1 month ago

2 min read