Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced an additional sale of a prototype of its QuadSight(TM) four-camera vision system that targets the semi-autonomous and autonomous vehicle market. According to the update, the American subsidiary of a leading global Tier One automotive supplier ordered the prototype system, and revenue from the sale is expected to total in the tens of thousands. As reported by the company, the American supplier participated in a technological roadshow that took place at the beginning of July in the Silicon Valley area. The roadshow consisted of live, real-time demonstrations and testing of different scenarios simulating obstacle detection in challenging weather and lighting conditions of the QuadSight system to vehicle manufacturers and Tier One suppliers. Following initial installation, customer satisfaction may lead to additional QuadSight system orders by the American supplier, to be integrated into cars of leading vehicle manufacturers.
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings, founded in 2015, is a technology company engaged in the design, development and commercialization of sensors systems for the automotive industry. Through the company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” cellular-based applications. Foresight’s vision sensor is a four-camera system based on 3D video analysis, advanced algorithms for image processing, and sensor fusion. Eye-Net Mobile’s cellular-based application is a V2X (vehicle-to-everything) accident prevention solution based on real-time spatial analysis of clients’ movement. The company’s systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. Foresight is targeting the semi-autonomous and autonomous vehicle markets and predicts that its systems will revolutionize automotive safety by providing an automotive-grade, cost-effective platform and advanced technology. For more information, visit the company’s website at www.ForesightAuto.com.
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