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SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE) is a leading technology company committed to enhancing transportation safety through its advanced driver-assistance systems (ADAS). Founded in 2014, SaverOne specializes in developing and deploying solutions aimed at preventing distracted driving, one of the major causes of road accidents globally.
The company's core product, the SaverOne system, restricts the driver's access to distracting mobile applications while allowing essential functionalities like navigation and calls. This sophisticated yet user-friendly system is designed to minimize in-route distractions, providing a safer driving environment for drivers, passengers, and pedestrians alike.
SaverOne has made significant strides in recent years, driven by an ambitious agenda and strategic partnerships. In 2023, the company reported a revenue increase to NIS 2.7 million, showcasing its strong market momentum. SaverOne has also secured transformative OEM deals, including agreements with major players like IVECO and Volvo Bus Corporation. These collaborations involve the integration of SaverOne's safety technology into commercial vehicles, highlighting the company's growing influence in the transportation sector.
The company's initiatives extend beyond individual partnerships. SaverOne has launched pilot projects and secured multiple contracts across various markets, including public transportation and tour bus fleets in Israel and a pilot program in the United States with Motor Supply, Inc. These endeavors emphasize SaverOne's commitment to expanding its reach and impact globally.
Financially, SaverOne has shown robust growth, with a 128% increase in year-over-year revenues in 2023 and a 107% rise in gross profit. The company is well-capitalized, with approximately $4.7 million in cash as of the end of 2023, providing a solid foundation for its 2024 growth agenda.
SaverOne's technology is not only aimed at current market demands but also positions the company for future growth. The company is developing a sensor system for early detection of vulnerable road users, leveraging cellphone footprints under all visibility conditions, a crucial development for the future of autonomous driving and enhanced vehicle safety.
With a comprehensive portfolio of 23 patents and a strategic focus on key global markets like the U.S., China, and the European Union, SaverOne is poised to lead in the field of driver protection technology. The company's mission to save lives by preventing accidents due to mobile distractions is as relevant today as it was at its inception, making SaverOne a crucial player in the ongoing effort to enhance road safety worldwide.
SaverOne (Nasdaq: SVRE) has secured a contract with Teva Pharmaceutical Industries to install its Driver Distraction Prevention System across Teva's entire fleet of 50 pharmaceutical delivery trucks in Israel. This expansion follows a successful initial deployment in 14 trucks.
Teva, a global pharmaceutical leader and one of the world's largest generic drug manufacturers, operates fleets across more than 60 countries. The company's Traffic Safety Officer, Ronen Talmor, emphasized Teva's commitment to safety and highlighted SaverOne's system as a important tool in preventing road accidents caused by driver distraction.
SaverOne's CEO, Ori Gilboa, expressed optimism about potential future deployments across Teva's global fleet operations, noting growing demand for their technology in commercial fleet safety solutions.
SaverOne (Nasdaq: SVRE) has announced a $1.5 million registered direct offering of 2,171,433 American Depositary Shares (ADSs) at $0.70 per ADS. Each ADS represents 90 ordinary shares. The company will also issue unregistered short-term warrants in a concurrent private placement to purchase up to 4,342,866 ADSs at $0.80 per ADS.
The warrants will become exercisable upon shareholder approval to increase authorized ordinary shares and will expire 24 months thereafter. The offering is expected to close around January 31, 2025, with H.C. Wainwright & Co. acting as exclusive placement agent. SaverOne plans to use the net proceeds for working capital and general corporate purposes.
SaverOne (Nasdaq: SVRE, TASE: SVRE) has signed an agreement with Oz Group to install its driver safety systems across a fleet of 100 vehicles. The deployment will begin with 30 systems in trucks, gradually expanding to cover the entire fleet including private cars. Oz Group operates in industrial, construction, and real estate sectors. The implementation aims to enhance fleet safety by reducing driver distraction risks.
SaverOne (Nasdaq: SVRE) has signed a new distribution agreement with uniSmart Vertriebs GmbH, a German-based distributor specializing in fleet safety and technology integration. This expansion into Germany represents a significant opportunity in one of Europe's largest fleet markets.
uniSmart, headquartered in Wendendelstein, provides solutions for logistics and transportation companies, serving major national German transport operators and medium-sized fleets. The company specializes in reselling, installing, and supporting advanced fleet management and safety systems, including Webfleet technology.
This partnership aims to address driver distraction issues in the German market through SaverOne's mobile phone distraction prevention technology, targeting improved safety, operational efficiency, and cost reduction for fleet operators.
SaverOne (Nasdaq: SVRE) has been granted its 12th patent by the USPTO, strengthening its transportation safety solutions portfolio. The new patent (#12,174,309) covers innovative phone location identification technology that determines cellphone positions in vehicles using sensor fusion techniques. The system utilizes angle of arrival, time of flight, and RF signal intensity to accurately identify and block only phones in the driver's area, preventing distractions.
The patent has a 20-year term and joins SaverOne's portfolio of 23 patents, with 12 granted and 11 pending across key markets including Europe, US, China, Israel, and the United Kingdom. This development reinforces the company's commitment to accident reduction and global expansion strategy.
SaverOne (Nasdaq: SVRE) announced a follow-on order from a global food manufacturer's subsidiary in Israel for its driver safety solutions. The new deployment extends to the division's employee car fleet, following a successful implementation in trucks and vehicles earlier in 2024. CEO Ori Gilboa highlighted this expansion as evidence of customer trust and the system's effectiveness in reducing driver distraction risks. The company sees this as a demonstration of how successful installations can scale across multiple divisions, with potential for broader adoption within the parent organization globally.
SaverOne (Nasdaq: SVRE) has signed a new distribution agreement with Smartfits Installations to introduce its driver distraction prevention technology to fleets across the United Kingdom. Smartfits, located in Burton on Trent, specializes in fleet safety and technology integrations for logistics, public transport, and corporate fleets.
The partnership is part of SaverOne's strategic global expansion plan, building on recent success in European markets. The UK fleet market, comprising over five million vehicles, presents significant growth potential for safety-enhancing technologies, driven by increasing regulatory focus and rising costs of distraction-related accidents.
SaverOne has launched a pilot project with Trans Italia, a major Italian logistics company operating over 300 trucks. The project involves installing SaverOne's driver safety system in an initial group of Trans Italia's trucks to prevent driving distractions and enhance road safety.
The collaboration was facilitated through SaverOne's Italian partner Tal Yhie and regional distributor GVZ Components, with installations being handled by TBS. This initiative represents a significant step in SaverOne's expansion into the Italian market and broader European growth strategy.
Trans Italia, known for eco-friendly and intermodal transport solutions, offers substantial growth potential for SaverOne and provides a strategic platform to showcase its technology in the Italian logistics sector.
SaverOne (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in advanced transportation safety solutions, announced a new pilot project with a renowned Italian luxury and sports car manufacturer. This project involves installing SaverOne’s distracted driving prevention system in an initial group of employee vehicles, potentially leading to installation across the manufacturer's entire employee fleet of approximately 200 vehicles. This initiative underscores SaverOne’s growing momentum in the Italian market and its European expansion strategy. The project is being led by SaverOne’s Italian partner, Mr. Tal Yhie, and regional distributor, GVZ Components. CEO Ori Gilboa highlighted the endorsement as a validation of SaverOne’s technology and its ability to address the critical issue of distracted driving caused by cellphones.
SaverOne announced signing a commercial agreement with a Spanish subsidiary of a multinational construction company following a successful pilot. The agreement includes the deployment of up to 200 SaverOne systems from a total fleet of 500 vehicles in Spain. The first 100 systems have been shipped and will be installed by mid-December 2024. The customer is a leader in the construction industry with global operations and a fleet of thousands of vehicles. This expansion follows a previous successful implementation in Israel, where the company started with a pilot project two years ago before expanding to their full fleet.
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