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Seeing Machines wins first Japanese car maker contract
Seeing Machines will supply embedded and accelerated Driver Monitoring Engine software
Company
LON:SEE
Seeing Machines, a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. The company's technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators.
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Seeing Machines will supply embedded and accelerated Driver Monitoring Engine software
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It will pay A$5mln over three years for access to the intellectual property
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A demonstrator model uses Canada-based Magna's expertise in mirror technology as well as camera design, integration and packaging
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"This additional IP license is an important milestone for Seeing Machines,” said the company’s chief executive, Paul McGlone
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The company makes AI-powered operator monitoring systems used in transportation
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The system detects pilot fatigue in real-time and also activates an alerting system
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“We are extremely confident of more progress in the second half of the financial year.”
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The 'good' rating applied by the Insurance Institute for Highway Safety to partial automation requires features offered by the Seeing Machines driver and occupant monitoring system technology
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It said the agreement should allow for the creation of ‘the best’ driver and occupant monitoring systems
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The OAX4600 is an application-specific integrated circuit (ASIC) that combines OMNIVISION’s image signal processor with Seeing Machines' Occula neural processing unit
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The deal is with a leading German automaker and has initial lifetime value of A$125mln
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“As a result, we are seeing success across all business divisions"
The money will be used to accelerate the growth and roll-out of its driver monitoring system
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"We anticipate exciting advancements for Seeing Machines as we leverage Collins' expertise and market leadership position in avionics and aircraft systems," said Seeing Machines CEO Paul McGlone
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Seeing Machines is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people
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The plan is to build on growing demand for the company's driver safety technology
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The system will be installed on Shell vehicles where “fatigue and distracted driving are considered to be a safety risk", investors were told
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The Guardian technology uses face and eye tracking algorithms to detect fatigue and distraction
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Driver monitoring systems can detect whether a driver is driving while distracted; it can even indicate whether the driver is driving under the influence of alcohol
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The company said it expects a ramp up in the number of vehicles containing its DMS technology, saying over 100,000 new vehicles with the tech had hit the roads in its last financial year