Seeing Machines secures another major design win

Computer vision technology company Seeing Machines has secured a further programme design win, working with an unnamed “major” tier 1 partner, for a Chinese OEM to deliver its ‘Driver Monitoring System’ (DMS) technology, it announced on Friday.

The AIM-traded firm said mass production was scheduled from 2019, adding that the technology would be delivered on its proprietary ‘FOVIO’ chip.

It said its ability to deliver its DMS technology on the FOVIO chip broadened its addressable market considerably, particularly given the time frames in which OEMs were beginning to implement semi-automated driving technology and incorporating DMS to enhance safety.

The estimated lifetime revenue value of the programme was more than AUD 10m based on initial models included in the agreement.

Seeing Machines said the first material production revenue was expected to be recognised in its 2020 financial year.

The board said the design win underpinned the company’s leadership position in DMS technology, and brought its automotive customer base to six global tier 1s and five OEMs, with numerous new vehicle models launching in the 2019-2022 timeframe.

“This latest design win is further evidence of the rising demand for Seeing Machines' DMS technology and recognition of the key role it can play in improving transport safety,” said general manager of automotive at Seeing Machines, Nick DiFiore.

“The deal brings our sixth customer from the automotive sector, illustrating continued strong momentum in the business.

“We are delighted that this OEM programme will be delivered on the Seeing Machines FOVIO chip, thereby reinforcing the group's ability to supply its DMS technology across a wide spectrum of global automotive customers rapidly and at reduced incremental cost.”