Member Info for Escovido

I honestly don't know why anyone takes any notice of him. Just spouts rubbish.

Losing bmw and the magna mirror failing leaves seye in a very precarious position.

There, fixed it for you.

Well there is always the biggest DMS contract ever awarded for the German automaker VW.

No contract RNS for China but Qualcom cited as our way in.

I'm not seeing it Mr. Surfer. Could you elucidate?

Https://seeingmachines.com/guardian-technology-is-now-integrated-within-eroad/

Actually ISB is a faceless troll and SEYE fan which is why there is no point engaging with him. Just put him on ignore list.

Adblock plus extension or Mac equivalent.

Sounds like it's in-house as far as Colin is concerned, which is what you'd expect from Tesla.

IR Illums. mounted above the mirror in console. Great for OMS, not so good for DMS but can work if the algorithms are good enough.

It is SEE and these are the kind of features they have been busy developing for the OEM's.

so much attention for cipia, seeing machines and smart eye is on #automotive wins. but these companies also supply complete systems for the fleet market for vans, buses and trucks. commercial vehicles are also covered by #gsr for #distraction monitoring and will be added to the #ncap ratings this year. the design approaches for the three suppliers differ radically. let's take a look.

shown top left is seeing machines' #guardian gen3; bottom left is cipia #fs10; and on the right is smart eye #ais. both guardian and fs10 are 1-box solutions, and both feature built-in #lte modem for over-the-air #ota updates and fleet management services. ota enables through-life support as new features are released and as regulations change. in particular the #addw requirements to meet gsr are set to tighten in july 2027, and for ncap #osm in 2026. so ota capability future-proofs the customer's investment.

the guardian box is solid, while fs10 is plastic, suggesting the products are focused on different customer bases at different price points. seeing machines has a history of working in mining and with caterpillar inc., and it shows, with the box clearly made by a tier-1 #ems such as celestica, flex, jabil or sanmina.

ais is a 2-box design comprising #eyetracker and #ecu and research suggests it is made by zhejiang autoio technology. shown is ais12 for aftermarket, which includes built-in lte. ais6 for oem installs has no lte, so cannot support direct ota updates. both ais6 and ais12 use the same ecu shown.

research suggests ais runs on texas instruments #sitara, while guardian and fs10 are native #ai solutions running on ambarella inc cv25 socs.

all three suppliers are targeting aftermarket wins, but seeing machines and smart eye have certification from applus+ idiada, so are going for after-manufacture too. seeing machines has declared #****logation for two bus manufacturers, giving it an early lead.

hardware development is risky in a way that software isn't, particularly for small suppliers with very limited financial resources. guardian gen2 problems almost killed seeing machines in 2018 and its judicious approach to the gen3 rollout is clearly based on that near-death experience, which is reflected in the robustness of the gen3 design. manufacturing problems are bad, but reliability issues leading to warranty claims for products in the field can be fatal.

added to that, the after-manufacture channel requires just-in-time delivery to a truck or bus oem production site, which brings a whole new level of supply chain planning and logistics. in the rush to celebrate contract wins, execution risks and product liability can easily pass investors by.

all views expressed are my own.

Cont'd

another demonstration of Valeo's ability to build the ground for successful cooperation with core technology companies. These last 5 years, with Asaphus, we have been able to grow the company, develop their AI perception technologies and build a solid position in interior monitoring systems. Combining their teams with Seeing Machines, we will benefit from the best in class perception software to integrate into our hardware and software architecture for driver and occupant monitoring systems. Together, we will be able to provide more competitive solutions and strengthen our market position"

The transaction to acquire Asaphus is comprised of a fixed amount of US$6 million, payable in two components. The first component relates to a cash payment of US$2 million, payable in two tranches, the first US$1 million on signing and the next US$1 million on the first anniversary of the Agreement. The remaining component of US$4 million is payable on meeting certain business outcomes, the remaining unpaid portion of the USD 4 million, if any, will be due on the fifth Anniversary. Asaphus generated a EUR 49,000 profit in 2023.

The acquisition of Asaphus' operating business, currently engaged on two Automotive programs in Europe and one in China, is expected to have a cash neutral impact on Seeing Machines in the short term, with a positive contribution as services and other revenues grow over time.

Paul McGlone, CEO at Seeing Machines, commented: "With our shared culture of innovation, this collaboration will enable our team to continue to lead the interior sensing market as we complement our highly specialised skills and work with Valeo, a world leading automotive technology company, to deliver driver and occupant monitoring solutions to more automotive customers, globally. As regulations making driver monitoring systems mandatory across the EU come into effect this month, the market for enhanced safety and convenience solutions is expanding daily. Thanks to our proven, class-leading technology, we are very well placed to solidify our industry leadership position, supporting our customers in getting their programs successfully to production."

I assume it's because it says the camera is in the side pillar where we haven't placed it before. It can't be in the mirror because most vans don't have an RVM. I guess we'd expect SEE to be in the console under those circs but maybe this is new. Certainly nothing definitive either way except that Valeo have strong ties.

8 July 2024

Seeing Machines acquires Asaphus Vision GmbH

Collaboration with French Tier 1 automotive supplier Valeo extending AI and ML capability

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced a strategic collaboration with Valeo, a global leader in the automotive industry, along with the acquisition of Asaphus Vision GmbH ("Asaphus"), a highly specialised development group with leading Machine Learning (ML) and Artificial Intelligence (AI) capability.

Highlights:

● Valeo and Seeing Machines enter strategic collaboration to grow market share in Automotive

● Seeing Machines acquires Valeo owned German software company, Asaphus

● Acquisition of Asaphus provides Seeing Machines with unique IP, a Berlin office and material boost in AI and Machine Learning capabilities

● Asaphus currently engaged on three ongoing Automotive programs

● Acquisition expected to be cash neutral on an operating basis

Valeo's market-leading scale, expertise in high-quality cameras and processing units (hardware), software and system integration will complement Seeing Machines' leadership in driver and occupant monitoring system technology. Together, they will jointly pursue opportunities across the global automotive industry to meet the growing demand for enhanced interior cabin experiences by OEMs for their customers, alongside meeting important and expanding safety regulations across the world, including existing ones in Europe and China.

Further, Valeo will transfer its driver monitoring perception system software activity to Seeing Machines. This will primarily be facilitated by Seeing Machines' acquisition of Asaphus, a Valeo owned German company based in Berlin, dedicated to the development of driver and occupant monitoring software.

The collaboration with Valeo and acquisition of Asaphus represents a highly attractive opportunity to strengthen Seeing Machines' core business with the attainment of highly valuable additional Intellectual Property. Further, the acquisition will add complementary skills that will accelerate the Company's feature roadmap with advanced AI and ML capability, optimise development costs and deliver enhanced engineering talent in Germany, an ideal location to support Seeing Machines' growing customer base in Europe.

Marc Vrecko, CEO of Valeo Brain Division, commented: "We are delighted with this collaboration with Seeing Machines. It is another demonstration of

Disappointing but it will come eventually.

My problem is when Glandore states his opinion as fact. It is not a fact that the company did not include the CAT payment and I , for one, would be alarmed if they missed that particular, rather large train coming down the track at them. On schedule, I might add!

I disagree Glandore. I think it's covering a lot of the good stuff that seems to be overlooked. I really don't agree that SEE didn't know about CAT deal. It's a renewal of an existing deal and they were fully aware of when it became due. I see no reason to believe it was not included in their forecasts.

Hashtags are a way of aiding searches to find the relevant content.

They are only likely to do that if they decided to leave the DMS arena and go back to ordinary mirrors exclusively otherwise they will be giving us more cash to extend exclusivity.

Apparently this win announced 14 Aug so they recycling old news again. Which begs the question, are they on a great exchange or are their followers stupid?

Mat 74 on Telegrum couldbe bothered to dig out the RNS' so I've copied here:

Just so you are clear these are the terms and some facts about what is coming.

“Magna may elect to convert the principal and at Seeing Machines' election, interest outstanding under the Convertible Note at any time during its term, up to a maximum of 349,650,350 shares which, when added to Magna's existing shareholding in the Company, will represent approximately 9.9% of the fully diluted share capital of the Company. The Convertible Note contains standard covenants, and anti-dilution provisions. The interest due at the end of the facility can be paid in cash or converted into equity at Seeing Machines' election.”

Magna will elect to take the payment in shares to get their ownership in a key partner to 10% no matter where the SP is at.

SEE will likely elect to pay the interest in shares although cash at that point will not be a problem.

FY26 revenue has already been forecast at a minimum of $125m by the CFO.

Approximately $70m of that will be auto royalties at 90% margin.

As stated yesterday the vast majority of the $390m booked auto royalties will hit the SEE accounts between now and 2028.