Seeing Machines has been appointed to deliver its AI-powered FOVIO Driver Monitoring System (DMS) by an existing global automotive Tier-1 customer to a separate large global automotive group (OEM).
The programme, to be delivered via Seeing Machines' embedded Driver Monitoring Engine (FOVIO e-DME software library), is led out of North America and covers a broad array of vehicle models with certain minimum volume guarantees, the computer vision technology company said in a statement.
Production is scheduled to start from mid-2024. The programme has an initial lifetime value of A$23mln (£13.3mln).
Seeing Machines said the work represents a ‘broad generational expansion of its FOVIO DMS technology deployment with the existing OEM customer' and will target safe level 2-3 semi-autonomous driving and anticipated regulatory requirements.
With this latest award, Seeing Machines said the cumulative value of its 14 automotive DMS contracts is now A$395mln.
Nick DiFiore, SVP and GM Automotive at Seeing Machines noted: "We are delighted to be partnered with such a capable Tier 1, whom we just recently announced as a new customer for another win.
“It is also very pleasing to see our start of production numbers expand significantly as cars and trucks with our technology continue to hit the road.
“We now have over 340,000 cars on the road and expect that to more than double over the next year, significantly improving our margins with a more favourable royalty revenue mix."