Smart Eye Receives Six Additional Driver Monitoring System Design Wins with Korean Car Manufacturer
GÖTEBORG, SE / ACCESSWIRE / October 19, 2022 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has been selected by an existing customer to deliver its world-leading Driver Monitoring System (DMS) software to six additional car models. The estimated revenue of the order is SEK 100 million based on estimated product life cycle projections.
Gothenburg, Sweden - October 19, 2022 - Smart Eye, the leading developer of DMS software to the automotive industry, will deliver its AI-based technology to six new car models. The customer, a global Korean car manufacturer, has previously chosen Smart Eye's software for implementation in 17 of its earlier car models and is now extending the technology to several of its next-generation models on a new platform.
The new car models including Smart Eye's technology are expected to go into production in 2024. The estimated revenue for the order is SEK 100 million, based on product life cycle volume projections. The potential of further design wins on this new platform is estimated at SEK 100 million.
"To have an existing customer extend our Driver Monitoring software to a next-generation car model on a new platform points to the robustness and quality of our technology", said Martin Krantz, CEO and Founder of Smart Eye. "We can be sure that the customer is content when we get selected for the next automotive platform of the same car model. These cars will be produced well into the 2030s. We are in Korea to stay".
Smart Eye has now received a total of 100 design wins from 14 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,485 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,515 million.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
Email: anders.lyrheden@smarteye.se
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.
In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.
Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, over 1,300 research organizations around the world,
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: http://www.corp.smarteye.se/en/
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser.
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-10-19 11:30 CEST.
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Smart Eye Receives Six Additional Driver Monitoring System Design Wins with Korean Car Manufacturer
SOURCE: Smart Eye
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