Driver monitoring systems. Source: Seeing Machines
By Bolaji Ojo
What’s at stake:
First, Seeing Machines scored a big lifeline, improving its balance sheet and its competitiveness. More importantly, the company’s profile received a huge boost, making it an even more notable player in the software-defined vehicles (SDV) market and in applications for driver and vehicle occupant monitoring.
Seeing Machines wrapped up 2024 in grand style, scoring a much-needed investment from Japan’s Mitsubishi Electric Mobility that executives believe will help the company further penetrate the automotive industry while boosting its balance sheet.
Japan’s Mitsubishi framed the transaction, in which it has purchased approximately 19.9 percent of Seeing Machines, as part of its efforts to comply with growing regulatory requirements in Europe and elsewhere to improve driver and passenger safety in automotives.