Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced that it has made the first sale of a prototype of its breakthrough QuadSight™ quad-camera vision system targeted for the semi-autonomous and autonomous vehicle market. The first system was ordered by the truck division of a large European vehicle manufacturer to assess the system and its performance on the manufacturer’s trucks. The transaction will provide the company with imperative customer feedback as well as an expected revenue of tens of thousands of dollars. The company plans to utilize customer response from all prototype orders to develop a deeper understanding of the customers’ main requirements and quickly modify the system as needed to meet those needs.
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Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), founded in 2015, is a technology company engaged in the design, development and commercialization of stereo/quad-camera vision systems and V2X cellular-based solutions for the automotive industry. Foresight’s vision systems are based on 3D video analysis, advanced algorithms for image processing and sensor fusion. The company, through its wholly owned subsidiary Foresight Automotive Ltd., develops advanced systems for accident prevention which are designed to provide real-time information about the vehicle’s surroundings while in motion. The systems are designed to improve driving safety by enabling highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company’s systems are targeting the Advanced Driver Assistance Systems (ADAS), semi-autonomous and autonomous vehicle markets. The company estimates 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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