Seeing Machines signs agreement with 'world-leading' self-driving car company

(Sharecast News) - Computer vision technology firm Seeing Machines said on Monday that it inked an agreement to supply additional Guardian Backup-driver Monitoring Systems to a "world-leading North American self-driving car company".

Seeing Machines said the agreement, valued at around $1.2m, will see its Guardian BdMS offering deployed into the autonomous mobility company's test vehicles as they seek to expand across new sites and locations.

The AIM-listed group stated that advancing autonomous vehicles requires "extensive on-road data collection, testing and validation" and, in order to mitigate the risks of operating test vehicles on public roads, a back-up driver was typically required during this development phase and said its BdMS offering supports the human back-up driver in "remaining vigilant during on-road operations".

Chief executive Paul McGlone said: "We are proud to continue working with this important customer, who shares our passion for road safety, as they continue to develop their technology and frankly, lead the evolution of the autonomous vehicle landscape.

"Around the world, regulators and automakers understand that driver and occupant monitoring technology will bridge the gap between the vehicles of today, where the driver is still in control, and the fully autonomous cars of tomorrow. It's excellent to see our technology, designed purely to keep road users safe, helping to shape this shift in transportation."

As of 1010 BST, Seeing Machines shares were up 2.27% at 2.25p.

Reporting by Iain Gilbert at Sharecast.com