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Seeing Machines wins contract with seventh tier-1 OEM
26th Apr 2021 09:04
(Sharecast News) - Computer vision technology company Seeing Machines has been appointed by another global automotive tier-1 supplier to deliver its 'FOVIO' driver and occupant monitoring system technology, it announced on Monday, to an additional North America-based original equipment manufacturer (OEM).
The AIM-traded firm said the agreement, which would include its embedded 'FOVIO e-DME' software library, also signalled the first design award for its recently-launched occupant monitoring technology.
That technology concurrently extended its attention, distraction, impairment, identification and other human state measures from the vehicle driver to passengers, and also supported a range of interior monitoring features.
Mass production was scheduled from late 2022, with an initial lifetime award value of AUD 7m.
Seeing Machines said it was growing in the driver monitoring system space, having now won contracts with seven automotive tier-1 customers for a "growing number" of programmes across seven global carmakers.
"We are delighted to expand our customer base with such a globally capable tier-1 supplying a highly innovative OEM," said senior vice-president and general manager of automotive, Nick DiFiore.
"I expect this to be the first of many collaboration opportunities as we together target new business across the fast expanding interior monitoring market.
"Having articulated our detailed embedded product strategy late last year and launched our OMS roadmap soon after that, receiving this order affirms both our strategic and technology direction, and our continued leadership position in the driver monitoring system market."
At 0953 BST, shares in Seeing Machines were up 4.83% at 10.85p.
The AIM-traded firm said the agreement, which would include its embedded 'FOVIO e-DME' software library, also signalled the first design award for its recently-launched occupant monitoring technology.
That technology concurrently extended its attention, distraction, impairment, identification and other human state measures from the vehicle driver to passengers, and also supported a range of interior monitoring features.
Mass production was scheduled from late 2022, with an initial lifetime award value of AUD 7m.
Seeing Machines said it was growing in the driver monitoring system space, having now won contracts with seven automotive tier-1 customers for a "growing number" of programmes across seven global carmakers.
"We are delighted to expand our customer base with such a globally capable tier-1 supplying a highly innovative OEM," said senior vice-president and general manager of automotive, Nick DiFiore.
"I expect this to be the first of many collaboration opportunities as we together target new business across the fast expanding interior monitoring market.
"Having articulated our detailed embedded product strategy late last year and launched our OMS roadmap soon after that, receiving this order affirms both our strategic and technology direction, and our continued leadership position in the driver monitoring system market."
At 0953 BST, shares in Seeing Machines were up 4.83% at 10.85p.