With the self-driving vehicles revolution gathering momentum, high-tech firms continue to explore ways to achieve a competitive edge in the highly lucrative automotive industry. Recent advancements indicate that the global automobile market is likely to experience some dramatic changes in the near future. The area that has been receiving growing attention, however, is the road accident prevention systems installed in vehicles.
The current rate of advancement on this front point to a very feasible possibility of a fully autonomous automobile being developed in the coming years. And, as in numerous other occasions, it happened to be Israeli firms that have been making valuable contributions in this high-tech sector.
Following the success story of MobileEye, the Israeli technology sector has once again proved to be a fertile ground for the international investor community. Not surprisingly, another key player appears to be emerging on the stage – Foresight Autonomous Holdings. Launched as a spinoff from Magna BSP back in 2015 (the Home Land Security solutions company which specializes in stereo vision systems), the firm has been making headlines of late. Foresight is a developer of solutions for advanced driver assistance (ADAS) and fully autonomous (FA) driving applications, which is based on stereo and quadric camera algorithms. Foresight is not a regular hi-tech firm since its technology originates from Israel’s successful defence industry.
Despite its relatively small size, the company aims to further advance in the autonomous car sector through its artificial sensing technology as the industry moves toward a higher degree of autonomous driving. The fact that the company is just two years old, should not be a reason for concern as the team backing this enterprise has a proven track record of success. During recent years, its parent company, Magna BSP, has developed over ten adaptable passive electro-optic radar security systems. This technology is currently used to protect some of the most sensitive industrial and governmental facilities in Israel and around the world. Imagine that the very same technology used by the Israeli military is now operating in Foresight. Actually, to be more specific, its ADAS system is based on Magna’s unique radar system – Stereoscopy. Both the ADAS system and the perimeter security radar function very similarly – both have two cameras employed in the process to cover the same field of sight, providing an impeccable panoramic 3D view. A specially developed software, which is installed in the vehicle, supplies the driver with real-time alerts in all weather conditions. Moreover, its uniquely developed algorithm is capable to map objects as little as 50cm, providing a driving experience unlike any other.
Earlier this year, Foresight showcased its leading product , QuadSight™, at the prestigious Consumer Electronics Show. With the device demonstrating near 100% obstacle detection and near zero false alerts, the company is now looking far beyond the Israeli market.
Furthermore, the Chinese government has approved new regulations directed to boost the usage of ADAS by 2020, and Foresight seems to be well placed to reap the benefits from these recent changes. The company has already completed successful pilot trials with three major Chinese OME. As a result, a leading global Chinese electric vehicle manufacturer has ordered a prototype of QuadSight vision system. In addition, a truck division of a large European car manufacturer has also purchased the system in order to evaluate its performance on vehicles it produces.
It may still be early days for Foresight and it yet to generate profit, but its unique technology has already roused interest from key players in the automotive industry. Time will tell how greatly the company fares, but so far, the firm has proved to be more than capable to deliver on its promises.
Sources: Globes magnabsp.com foresightauto.com news.techtime.co.il businesswire.com edisoninvestmentresearch.com