Seeing Machines surges as it inks licence agreement for Occula technology

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Seeing Machines Limited (LON:SEE) said it has signed a licence agreement for its Occula neural processing unit with digital imaging solutions firm OmniVision Technologies.


The AIM-listed firm, which designs artificial intelligence-powered operator monitoring systems, said the agreement represents the first execution of a silicon licence for Occula, which allows the development of low-cost, high-performance edge-AI to power future human-machine interfaces.


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Seeing Machines added that it will work with OmniVision to deliver “optimised, highly integrated solutions to the global Driver and Occupant Monitoring System markets, leveraging existing and new customers globally”.


“Seeing Machines has had a wonderful working relationship with OmniVision for over 5 years now, having successfully worked together on multiple automotive programs with a number of Tier 1 customers. This agreement represents a natural next step for our two companies, to work strategically together to achieve the highest possible coupling between the imaging and processing domains”, Seeing Machines chief executive Paul McGlone said in a statement.


“We are thrilled to continue working with OmniVision as both companies combine to continue to deliver excellent price versus performance Driver and Occupant Monitoring solutions to the market”, he added.


The company’s shares surged 9.2% to 7.5p in early trading on Wednesday.


–Adds share price–

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