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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 2014 Ltd. (NASDAQ: SVRE) announced that Kfar Giladi Quarries has implemented the SaverOne system in its fleet of heavy trucks. This system aims to reduce driver distractions from mobile phones, thereby decreasing accident risks. SaverOne's CEO highlighted that the heavy industry represents a significant market opportunity in Israel, with potential fleet sizes in the tens of thousands. The company has also secured Cemex as a key customer, emphasizing the technology's importance in saving costs and lives. SaverOne targets commercial fleets, vehicle manufacturers, and insurance companies, aiming for expansion in Israel, Europe, and the US.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced the installation of its driver distraction prevention system on all school buses of the Emek Yizrael regional council in Israel. This addition increases the total number of regional councils using SaverOne's technology to four. The company aims to enhance safety for students by preventing bus drivers from being distracted by mobile phones. The full potential market in Israel includes 54 councils, with plans for future expansion into the US and Europe. SaverOne's solution addresses a significant issue, as distracted driving contributes to numerous accidents annually, with an estimated cost of $870 billion in the US alone.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced the trial installation of its safety system on 19 large delivery trucks for Shufersal, Israel's leading food retail chain. This marks a significant milestone as it opens potential for further installations across Shufersal's additional fleets, potentially impacting hundreds of vehicles. The SaverOne technology aims to reduce driver distraction from mobile phones, which is a major cause of road accidents. The company anticipates that broader adoption of its systems could significantly lower accident rates, thus impacting operational costs and enhancing safety standards in the transportation sector.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced a collaboration with Colmobil, a major car importer in Israel. This agreement allows Colmobil to install the SaverOne System in vehicles it leases, targeting driver distraction caused by mobile phone use. SaverOne aims to enhance road safety, addressing a significant cause of accidents linked to mobile phone usage. The company highlights increasing market acceptance and is strategically positioned in Israel, Europe, and the US. SaverOne's technology prevents access to distracting apps while driving, potentially impacting demand due to upcoming EU regulations aimed at improving driver safety.
SaverOne 2014 Ltd. (NASDAQ: SVRE) announced a contract with Tempo Beverages Ltd, Israel's largest brewer, to install its driver safety system on 30 out of 120 delivery trucks. This move aims to reduce accidents caused by mobile phone distractions in commercial fleets, enhancing safety and operational efficiency. The company's strategy focuses on international growth and the installation of its solution across various markets, including the U.S. and Europe. With rising interest in cellular distraction prevention technologies, SaverOne stands to benefit from anticipated regulatory changes.
SaverOne 2014 Ltd. (Nasdaq: SVRE) reported record Q3 revenues of NIS 754,000 (~$213,000), marking a 127% year-over-year increase. As of November 30, 2022, nearly 1,500 of 2,000 ordered systems have been installed. The company focuses on expanding its presence in international markets while investing in R&D. However, a net loss of NIS 19,742,000 (~$5,572,000) was reported, up from NIS 19,203,000 (~$5,420,000) in the previous year. Cash reserves stood at NIS 32 million (~$9.1 million). New agreements with major clients, including a global vehicle manufacturer, signal strong growth potential.
SaverOne 2014 Ltd. (Nasdaq: SVRE) announced an expanded order for 25 additional cement trucks from ReadyMix Industries following a successful initial trial. The deal highlights the potential for growth within the commercial vehicle sector, especially with notable players like Cemex Group involved. CEO Gilboa emphasized a strategic shift towards larger orders with global companies. SaverOne's technology aims to enhance road safety by preventing driver distraction from mobile devices, targeting a market poised for demand increases due to forthcoming EU regulations.
SaverOne 2014 Ltd. (Nasdaq: SVRE) has announced a securities purchase agreement with Alejandro Weinstein to raise approximately $1.5 million via a private placement of 809,061 American Depository Shares (ADS) priced at $1.854 per ADS, marking a 58% premium over the December 9, 2022 closing price. The closing is anticipated for the week of December 12, 2022. The ADSs will not be registered under the Securities Act, and there are plans to file a registration statement for resale. SaverOne focuses on technologies to enhance driver safety and prevent accidents.
SaverOne 2014 Ltd. (NASDAQ: SVRE) has announced that Brimag, a leading Israeli distributor of home appliances, will install its SaverOne System in their entire technician fleet. Following a successful trial with ten vehicles, the system significantly improved driving behavior by reducing phone distractions, enhancing safety. The installation will cover 50 additional vehicles shortly. SaverOne's technology aims to prevent mobile phone-related driving distractions, addressing a critical safety issue linked to numerous road accidents, with the annual cost in the U.S. estimated at $870 billion.
SaverOne (Nasdaq: SVRE) has secured a deal with a leading global chemical manufacturer to equip its entire fleet of 70 trucks with the SaverOne Protection System, aimed at reducing driver distraction caused by mobile phone usage. Following successful trials, the agreement marks a significant win for SaverOne, enhancing fleet safety. The technology not only prevents access to distracting applications while driving but also allows for monitoring of driver behavior. This initiative may expand to include the manufacturer’s private vehicles, representing further growth potential for SaverOne.
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