A bit of context ...14 Oct 2020 23:15
So, a competitor has announced an extension to an existing customer on the same hardware platform with a few software tweaks. Hardly rocket science - reselling the same old rope to an existing customer, who is accustomed to the smell of old rope.
Was this competitive, did anyone else get involved in RFI, RFQ or negotiations? I think not.
Where will we be tomorrow? Well, first we need to review some recent history.
4 June 2018
a *program design win*, working with a major Tier 1 partner, with a global US-headquartered automotive OEM… FOVIO driver monitoring technology into *multiple vehicle platforms for mass production from 2020*
The estimated revenue value of this program is *over A$50M* based on initial included models and lifetime volume projections. The first material production revenue is expected to be recognised in Seeing Machines' 2021 financial year. There also remains potential for further program growth based on additional vehicle models added during the program.
That was the Ford’s F-150, and the Mustang Mach-E and … well we will wait and see, the true value? Stick a zero on the end!
This is the First pillar: FOVIO Chip which runs on Xylix and now with 50% reduction in load.
Just over 2 years and production is almost started.
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Now the other 2 pillars, I must admit I get confused. Pilar 2 is the embedded Driver Monitoring Engine (e-DME). It is software that is optimised to be efficient on all of the main Automotive platforms, so if you run your car software on A, B, C, D, … you can license the software and run it alongside your existing code in infotainment units ADAS, etc I expect that this will be the route that will convert many new customers to join See. I expect that Qualcomm is the reason why many of the current RNSs disappeared, they will reappear with Qualcomm, Garmin, Harman, LQE as well as the regular Tier 1s, but they will all have See on board
Pillar 3 is to include the Occula code inside of custom chips called ASICs, these are optimised to be extremely efficient and allows a Tier 1 to design a chip to support a family of cars as the volumes rises, the costs get spread further, I expect this is the route that BMW will go with a single chip designed for a family of cars such as 3, 4, X3, X4, Z4, …
Renesas could be the first semi-conductor company that we have the MOU with; I expect we will get some more too, but it is only a short list to choose from! I can’t believe we would go to this level of time and expense if we were not fulfilling pent up demand
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So don’t worry if our competitors pick up a few scraps, we don’t want a monopoly, we want to share the customers between them and each of our 3 pillars