Mitsubishi Electric Mobility Invests in AI-Powered Transport Safety Company Seeing Machines

Mitsubishi Electric Mobility is investing in Seeing Machines Limited, a technology company that designs AI-powered operator monitoring systems to improve transport safety. As part of a collaboration agreement, Seeing Machines will secure £26.2 (US$32.8) million in strategic investment.

Mitsubishi also becomes a significant investor in the UK-listed company.

Seeing Machines' technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators.

The collaboration agreement will focus on automotive opportunities in Japan.

Additionally, the two companies will pursue opportunities in adjacent markets where Mitsubishi Electric Mobility already has a strong established position.

Kunihiko Kaga, President & CEO of Mitsubishi Electric Mobility, says: “Mitsubishi Electric Mobility has been collaborating with excellent partners, expecting technological synergies in the CASE (“Connected”, “Autonomous”, “Shared & Service”, “Electric”)-related business, which has great market potential. We position this partnership with Seeing Machines as part of this strategy and are confident that by combining the strengths of both companies, we will be able to provide the market with new and attractive products. We are very pleased to be taking on a new business challenge with Seeing Machines, our best partner, in the rapidly growing DMS market.”

Paul McGlone, CEO of Seeing Machines, adds: “This is a pivotal partnership in our approach to strategically align with a number of key, industry leading Automotive Tier-1s with high capability, complementary strengths and market focus in the DMS/OMS space. We have been working closely with our new colleagues at Mitsubishi Electric Mobility and the synergy is clear: promising significant benefits for both of our businesses. We have carefully considered this investment in Seeing Machines to ensure that we remain focused on supporting our existing key customers and programs across our transport focused businesses, while we accelerate growth in currently under-served markets and together explore new opportunities in adjacent industries.”

Founded in 2000 and headquartered in Australia, Seeing Machines is a leader in vision-based monitoring technology that enable machines to see, understand and assist people