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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) 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.
SaverOne 2014 Ltd. (Nasdaq: SVRE) has signed a memorandum of understanding (MOU) with Iveco, a prominent truck manufacturer, to integrate its driver distraction prevention solution into Iveco's trucks. This strategic collaboration aims for a formal agreement by year-end 2022, with plans to begin offering these equipped trucks to customers in 2024. SaverOne's technology targets mobile phone distractions, a significant cause of road accidents globally. The partnership marks an important milestone for SaverOne, enhancing its market presence and growth potential within the vehicle manufacturing sector.
SaverOne 2014 Ltd. (Nasdaq: SVRE) has successfully completed a proof-of-concept (POC) with a major European bus and truck manufacturer, demonstrating their second-generation Vulnerable Road Users (VRU) detection technology. This innovative solution enhances current Advanced Driver Assistance Systems (ADAS) by effectively detecting VRUs in various visibility conditions. CEO Ori Gilboa emphasizes the potential for growth in the ADAS market and ongoing discussions for future collaborations. A webinar is scheduled for October 20, 2022, to discuss recent developments.
SaverOne (Nasdaq: SVRE), a technology company focused on transportation safety, launched its second generation platform aimed at reducing driver cellular distraction. Utilizing advanced components like an Analog Devices RF front-end and a Xilinx dual-core processor, the platform enhances accuracy and response time. It has passed tests for FCC and CE certification, allowing global operations. The new technology broadens application opportunities, which CEO Ori Gilboa believes will boost expansion and market demand, particularly in commercial vehicle fleets and potential new regulations in the EU.
SaverOne 2014 Ltd. (NASDAQ: SVRE) announced that CEO Ori Gilboa will present at the ThinkEquity investor conference on October 26, 2022, in New York. This conference is a major event for small and micro-cap companies and will feature over 70 firms. Gilboa's presentation is scheduled for 4pm ET, with opportunities for 1-on-1 investor meetings throughout the day. SaverOne specializes in transportation safety solutions, focusing on preventing driver distraction due to mobile device usage, addressing a significant cause of road accidents, which costs the US about $870 billion annually.
SaverOne 2014 Ltd. (Nasdaq: SVRE) has launched the installation of its SaverOne Protection System in 20 out of 150 trucks for Moviley Dror, a transportation partner of international logistics leader Fritz. This initiative represents the first phase of a potential expansion across Moviley Dror's fleet and partners, aiming for broader market penetration.
CEO Gilboa highlighted that this success aligns with their strategy to target local transportation companies, facilitating opportunities for global expansion.
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