Seeing Machines Limited (AIM: SEE ) told investors this morning that it has signed a Memorandum of Understanding (MOU) with a global semiconductor company as the formal terms of engagement are finalised in order to licence its Occula Neural Processing Unit.
The group, which specialises in AI-powered monitoring systems, said the collaboration represents the third pillar of its recently launched embedded product strategy.
This strategy will see Occula made available for licensing as an application-specific integrated circuit to companies for integration with any automotive computing platform.
Occula is a custom accelerator designed for integration into ARM based ‘system on chip’ to accelerate SEE’s software and support ultra-low-power human face, eye and body tracking.
Shares in Seeing Machines have increased over 160% since lows of 1.45p in March 2020 and were trading 9.72% higher at 3.95p this morning following the announcement.
The group said that licensing to third party semiconductor companies will create further pathways to automotive customers offering Driver Monitoring System (DMS) technology.
“Licensing our unique IP in this way allows us to distribute our technology through major auto and technology suppliers onto complementary platforms,” said CEO, Paul McGlone.
He added, “I'm delighted to see our Embedded Product Strategy coming to life, as we partner with large automotive semiconductor companies, creating new channels to market and addressing the growing integration challenges for driver monitoring technology faced by our OEM and Tier 1 customers."
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