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So it seems Redeye new what was going to be announced hence their positive analysis.
Ok so extra £13 million awarded by existing OEM & Share price has been flying over last few days.
If SEE announced that we would hardly move on that news !
I know it’s tough going at the mo & even the most optimistic of investors are doubting the trajectory of the company right now.
If you have invested at higher levels now is the time to double down if you are confident that SEE get to profitability next year & win a few of the long awaited big contract they promised. Aviation contract could be turning point.
But To be honest I think management & marketing team could be doing a better job right now. We have VW & BMW at SOP but you wouldn’t know it from any of the news feeds. It’s like they are asleep at the wheel & need DMS to wake them up !
Share price will drift around or under 5p until we get more news. PMG & Martin should be ensuring we trim any excess fat in the race to profitability & use AI tools to remove some of their workforce where possible.
Are you sure ? Directors bought in Feb 2022 before half year results in March 2022 as per below?
RNS Number : 5552G
Seeing Machines Limited
30 March 2022
Seeing Machines Limited
30 March 2022
Half year results and financial report
RNS Number : 0377D
Seeing Machines Limited
28 February 2022
Seeing Machines Limited
28 February 2022
Director Share Purchases
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, announces that it has been notified that two non-executive directors have purchased ordinary shares in the Company.
Catherine Jane Hill (Kate Hill) the Company's Chair, has purchased 400,000 ordinary shares in the Company at a price of 7.2 pence each on 25 February 2022. Following this transaction, Ms Hill has an interest in 3,400,000 Ordinary Shares, representing 0.08% of the issued share capital of the Company.
Nanjop Pty Ltd (The Murring Family A/C), a person closely associated with Non-Executive Director, John Murray, has purchased 200,000 ordinary shares in the Company at a price of 7.35 pence each on 25 February 2022. Following this transaction, Mr Murray has an interest in 632,291 Ordinary Shares, representing 0.02% of the issued share capital of the Company.
Now would be a very good time to show confidence to the market & sweep up some shares.
If it was good enough at near 6p then why isn’t not good enough at 5p ?
This is why SmartEye is jumping today !
The first IS contract could be in the bag
Interior sensing (IS) nominations are coming now. Ease of integration, where SEYE is strong, will be even more important. The first IS design win is something the Smart Eye CEO has teased about for quite some time now. We believe it is imminent, and already won on a tier1 basis. We assume the premium OEMs are first in line, such as Mercedes, Volvo, Audi, etc., followed by larger OEMs within 2-3 years. The automotive industry is constantly trying to squeeze prices over time, but IS will have up to 100% higher ASP than DMS. All in all, we find it likely that the contract value for the first IS deal could be well over SEK 500m.
Yulu raises $19.25 Mn from Magna, Bajaj Auto
Yulu, an electric two-wheeler company, has raised $19.25 million (about Rs 160 crore) in equity funding from existing investors Magna and Bajaj Auto Ltd.
The additional capital will enable Yulu to maintain its growth streak and will strengthen its market leadership as it expands in terms of vehicles, operational locations, and product and technology innovation, the company said in a press release.
In September 2022, Yulu raised $82 million in equity funding led by US-based Magna International in a Series B funding round. The firm also raised $3 million in debt financing in January this year. Entrackr exclusively reported the development. The startup has scooped up more than $130 million to date.
Six-year-old Yulu offers last-mile connectivity through its electric bike and network of EV charging and battery swapping network. It provides urban Mobility-as-a-Service (MaaS) in Bengaluru, Mumbai, and Delhi-NCR.
Through Yuma, which is a joint venture between Yulu and Canadian automotive supplier Magna, it has done more than 6.5 million swaps to date.
Yulu co-founder and CEO Amit Gupta also confirmed that the firm is on track to raise its Series C round soon.
“Yulu will continue to strengthen its leadership in the mobility-as-a-service (MaaS) segment by deepening existing business lines and opening up new use cases and geographies. Hence, we will look to raise additional funds to power our growth. We are gratified to see a lot of inbound interest from institutional investors and will raise additional capital later this year,” he said in a statement.
According to startup data intelligence platform TheKredible, Yulu registered Rs 41.74 crore in revenue from operations in FY23 against Rs 29 crore in FY22. During the period, its losses also jumped to Rs 95 crore from Rs 55 crore. As per Yulu, it has seen a nearly 5x leap in revenue over the past five years.
The company competes with Zypp Electric, Bounce, Ebikego, and among others.
BAJAJ, FUNDING, MAGNA, YULU
https://entrackr.com/2024/02/yulu-raises-19-25-mn-from-magna-bajaj-auto/
Thanks for your insights Longshot
So how does this work with our partnership with Magna, if we have our own patent ?
Can we install our DMS into any rear view mirror without Magna being invloved ?
Agree Terry total mind fu*k
Not much buying at the moment & no director buys to support the thesis that something is coming in this qtr.
Good news is we know BMW & VW are coming into production just need volumes to be as high as possible!
Hi All
What do you think is next for SEE ?
BMW - should be a great catalyst for us : how many models will we be in & how many cars will be on the road with our tech ? Anyone knowledgeable hazard a guess ?
VW - SEE/Magna mirror - Will this be the technology breakthrough we have been waiting for ? Will be first time this ever goes out in production volume car models. If this is successful will others follow ?
Collins Aerospace- Seems we are moving ever closer to intergrating into their ecosystem! When can we expect an announcement you think ? Why is the RFQ for 330 airplanes taking so long to get over the line ?
Other Business ? What can we expect ? Who are Toyota going to partner with ? We still have RFQ’s not being announced or won yet, when can we expect these to land as regulation deadline s are not far off.
The Volkswagen Group UK Ltd ID 7 was crowned the safest new car you can buy at our 2024 #WhatCarAwards
Here's our Consumer Editor Claire Evans and Thatcham Research's Alex Thompson to explain why 👉 https://buff.ly/4bILrtN
Some contract wins for Collins, hopefully we might be involved in a few ourselves;
Collins Aerospace signed a 5-year contract agreement with Really Cool Airlines to provide air-to-ground connectivity solutions, where real-time communication is critical for safety and seamless operation, and the global network connects airlines, airports, ground handlers, and other aviation businesses to their community of interest. #SGAirshow2024
More like it from SEE - Marketing 👍
Patrick Nolan is at the Singapore Airshow 2024 this week, a significant event in Asia Pacific, the world’s fastest growing region for the #aviation industry. With our exclusive #IP partner, Collins Aerospace, we demonstrated our joint capability and met with a range of fascinating clients from across the region.
#singaporeairshow2024 #pilotsupport #fatigue #safety #seeingmachines
https://www.linkedin.com/posts/seeingmachines_aviation-ip-singaporeairshow2024-activity-7166280465941716993-6y-D?utm_source=share&utm_medium=member_ios
Be interesting to see his take on Smarteye results & what he makes of their current cash position.
Smarteye share price down 5% & now 6%?up for the day.
It just baffles me that investors would rather bet on a company that does not release actual car numbers on the road to one that does!
SEE transparency is yet to be rewarded! AIM = sh*t show !
Hi Mat
Yes I want SEE to invest in interior sensing & use cash to develop future development work.
We don’t however need to spend or burn cash on other initiatives that are non performing sectors of business or go on a major hiring spree without the cash to support growth.
Just because they have the cash doesn’t mean they should burn thru with the expectation they are going to break even or be net postive in the future.
AI advancements should be helping lower their capex spend so hoping Martin is not losing sight of what is required.
To hear Smart Eye’s CEO Martin Krantz and CFO Mats Benjaminsson comment on our Q4 report, tune into Redeye AB’s live stream today at 10.00 CET: https://lnkd.in/dPDpXZjJ
Read the full Q4 report here: https://lnkd.in/dDtMkYtt
Looking forward to CB’s take on this.
They have £7 m cash left & obviously credit facility but burning thru cash ! Hope SEE are taking note & reducing costs where appropriate.
Korea is still the primary growth engine, being well on their way to implement DMS broadly. Volumes have yet to pick up in other markets, although they are growing from a low level. We expect other markets such as Japan, Europe and the US to mature in the quarters to come. Simultaneously there’s a strong market pull for Interior Sensing in the automotive premium segment. We are very well positioned for upcoming business in this new and exciting area.
Our new development programs are progressing as planned, and we see growth in the AIS product. The requests are coming both from fleet customers as well as from commercial vehicle OEMs eager to fulfill the European regulations. We expect a steady ramp up of AIS during this year.
January – December 2023
Net sales amounted to SEK 302.2 (219.5) million, which corresponds to an increase of 38%. Organic growth amounted to 33% (adjusted for the new accounting principle implemented in iMotions 2022) and is driven by Automotive business. Behavioral Research also shows stable growth.
Operating loss amounted to SEK -282.9 (-343.0) million. The improved operating loss is driven by higher sales and lower OPEX, excluding exchange rate impact, compared to last year. Depreciation of the surplus value created in conjunction with the Affectiva and iMotions acquisitions amounts to SEK 116.3 million. The period was burdened by one-time costs due to the funding process amounting to SEK 2.8 million.
Profit/loss after financial items amounted to SEK -283.2 (-344.1) million.
Earnings after tax per share is -2.15 (-12.98), and after full dilution -2.15 (-12.98). Earning after tax has improved due to deferred tax posted in the perioAd
https://www.smarteye.se/investors/press-releases/press-detail/?slug=smart-eye-year-end-report-q4-january-december-2023
Lewbo ..we don’t need to announce the OEM !
We just need to announce that the biggest contract win SEE has made is now ready for ‘start of production’ as PMG stated. With the right wording ‘Colin Barnden’ springs to mind, we could have an uplift & ignite investor interest .
Simple PR/Marketing to boost awareness.