Seeing Machines' FOVIO system to be installed in more models by existing customer

Seeing Machines Limited (LON:SEE) said its FOVIO driver monitoring platform is to be installed into additional car models for an existing German customer.

The expanded deployment with the original equipment manufacturer includes variants targeting the European New Car Assessment Programme (Euro NCAP) safety goals.

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The expanded engagement, scheduled for production from 2021, is expected to deliver incremental revenue of between A$11mln and A$30mln to the AIM-listed driver monitoring systems (DMS) specialist.

“This important milestone confirms Seeing Machines’ ability to scale our technology and participate in a broadening DMS market, including entry-level solutions targeting Euro NCAP goals,” said Paul McGlone, the chief executive officer of Seeing Machines.

“Further validation of our DMS technology is very encouraging as Euro NCAP and other regulatory bodies draw closer to finalising requirements to enhance safety across the industry,” he added.

.@seeingmachines‘ FOVIO driver monitoring tech detects & alerts when drivers are not paying attention to the driving task, employing computer vision algorithms that have been developed over more than 20 yrs of applied research: https://t.co/p0FQgSDWDW #seeingmachines #dms #safety

— Seeing Machines (@seeingmachines) July 19, 2019

Story by ProactiveInvestors