Seeing Machines Enters Key Collaboration With Magna, Includes Us$65 Million Investment Through An Exclusivity Arrangement And Convertible Note

Oct 06, 2022•almost 3 years ago

Amount Raised

$65 Million

FyshwickAutomotiveSecurityInformation Technology

Description

Seeing Machines Limited (LSE: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announced an exclusive collaboration agreement ("Agreement") with Magna International ("Magna"), to pursue driver and occupant monitoring system business targeting the vehicle's interior rear-view mirror. At the same time, Magna is also providing significant additional investment in the Company through a Convertible Note.

Company Information

Company

Seeing Machines

Location

Fyshwick, Australian Capital Territory, Australia

About

Seeing Machines is a global company headquartered in Canberra, Australia delivering safety technology to transport industries across the world. An industry leader in computer vision technologies which enable machines to see, understand and assist people, Seeing Machines’ machine learning vision platform has the know-how to deliver real-time identification and understanding of drivers through AI analysis of heads, faces and eyes. This insight enables Driver Monitoring System (DMS) technology, which monitors driver and operator attention state including the detection of drowsiness and distraction. Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The company works with some of the world’s largest transport brands and has offices in Australia, USA, Europe and Asia, to deliver multi-platform solutions to industry leaders in each vertical. We exist to get people home safely.

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