Latest news with #driver safety
Bloomberg
4 days ago
- Automotive
- Bloomberg
Fleet-Tracking Startup Motive Said to Pick JPMorgan for US IPO
Motive Technologies Inc., a driver safety and fleet management startup using artificial intelligence technology, has hired banks led by JPMorgan Chase & Co. to push ahead with an initial public offering, according to a person familiar with the matter. The San Francisco-based company is also working with banks including Citigroup Inc., Barclays Plc and Jefferies Financial Group Inc., the person said. Motive held an organization meeting on Monday to kick off preparations for the IPO, which could come as soon as the end of this year, according to the person.
Yahoo
05-08-2025
- Automotive
- Yahoo
Motive enters UK market to enhance fleet management
AI-powered integrated operations platform Motive has expanded its reach to the UK with the opening of a new London office. The company also appointed Nyanya Joof as regional vice-president. The company, which has seen success in North America, is extending its offerings in driver safety, fleet management, and workforce management to sectors such as construction, energy, field services, food and beverage, transportation and utilities. Joof has more than 15 years in developing go-to-market teams in Europe and holding leadership roles at companies such as WeWork. Her role will involve leading the company's regional strategy and overseeing the implementation of Motive's solutions for UK customers. Motive's technology focuses on enhancing driver safety by using AI to identify and address risky driving behaviours. This includes real-time detection of actions such as mobile phone use and stop sign violations to prevent accidents and promote safe driving practices. In the realm of fleet management, Motive's solution offers insights into vehicle health, routing, and utilisation, which can assist businesses in making informed decisions for more efficient operations. For workforce management, the platform provides automation of routine tasks such as scheduling and payroll, aiming to reduce the administrative burden on businesses. The Motive Driver App is designed to streamline compliance processes and reduce the need for paper-based documentation. As the UK moves towards meeting environmental targets such as the 2030 Zero Emission Vehicle Mandate, Motive's platform includes tools to support the shift to electric vehicles. The platform's capabilities for managing mixed-fleet environments are enhanced by the acquisition of InceptEV, a startup specialising in battery intelligence software. Motive CEO and co-founder Shoaib Makani said: 'We're excited to bring that mission to the UK at a time when AI can make a meaningful difference—helping businesses reduce road collisions, lower costs, automate manual work, and accelerate the transition to more sustainable operations. 'Our platform is already delivering measurable results around the world, and we look forward to unlocking that same value for businesses in the UK.' "Motive enters UK market to enhance fleet management" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Daily Mail
15-07-2025
- Automotive
- Daily Mail
SMALL CAP IDEA: Seeing Machines safety tech is becoming a global force
Founded in Australia and listed in the UK and US, Seeing Machines is fast becoming a global force in the automotive industry. Its driver safety technology is now a fixture in more than 3 million vehicles, while its Guardian monitoring system is gaining significant traction in the logistics sector. It is an unheralded success story that might warrant a higher valuation if listed on Nasdaq or developed in the white heat of Silicon Valley. While this apparent underestimation may rankle with management led by Paul McGlone, it could offer an opportunity for those new to the story. As we will discover, its current modest market capitalisation is more a function of the fluctuating fortunes of the car market than anything self-inflicted, though there have been operational hiccups that are now largely in the rear-view mirror. So, what does Seeing Machines actually do? Put simply, its FOVIO Driver Monitoring System is designed to keep drivers safe by tracking attention and alertness at the wheel. Using a mix of cameras and intelligent software, the set-up can tell if a driver is distracted or drowsy and prompts them to refocus or take a break. Seeing Machines' customers for this product are original equipment manufacturers. At the last count, it had eight automotive partnerships. Rather than simply receiving a one-off payment for its technology, it gets a royalty, resulting in recurring revenue that grows with installations. A big demand driver is the upcoming EU General Safety Regulation, which mandates new cars, vans, buses, and trucks be fitted with advanced distraction warning systems such as FOVIO. The second innovation is its Guardian system, an aftermarket monitoring product retrofitted to truck cabs. Seeing Machines is up to iteration three, which integrates artificial intelligence for greater accuracy. In its half-year results in March, the company said Gen 3 is being trialled with several large fleets. More recently, excitement has grown around two collaborations with Mitsubishi Electric: one in the US, the other in Europe. In an interview with Proactive earlier this month, managing director Paul McGlone said the American collaboration is already generating 'referrals and qualified leads for our sales teams to convert for our Guardian product.' Overall, interest in Guardian 3 has been high, generating a pipeline that adds up to a potential 18,000 units. 'That includes both the referrals we've received from Mitsubishi and those that our in-house sales team have generated over the past few months,' McGlone told Proactive. 'So, it is the highest pipeline volume that we've ever seen since we've been in the business, and we're quite confident that we'll get a meaningful level of conversion from that pipeline.' Now, all of this is a little jam tomorrow – although important for those looking at the long-term potential of Seeing Machines. However, the latest results (its March interims) reveal why perhaps there's a little circumspection around the investment story. Its top-line growth stalled with volatility in the automotive sector cited, a not unexpected development given the industry backdrop blighted by tariff worries. That said, Seeing Machines pointed to an 'expected second-half skew' to performance, suggesting the first half was more a blip than a trend. Top-line growth, particularly from royalties, is crucial for a business still firmly in the red (it posted a near $10million EBITDA loss for the six months to 31 December). However, those results came with a pledge: to reach cash flow break-even in 2025 and a $12million cut to the cost base to help achieve this. It has the runway to do so, with almost $40million in the bank at the last update, following a $33million investment by Mitsubishi for a 19.9 per cent stake. Analysts point out that Seeing Machines shares trade at below three times sales (net of cash), which for a tech stock is exceptionally cheap. That said, it is only a bargain if Seeing Machines can hit its revenue and self-imposed cash break-even targets. A few cautionary notes: readers should conduct their own due diligence. I can only tell the story as it stands. Further digging is always advisable. And remember, Seeing Machines is not a one-way bet. The road to commercial success for products such as FOVIO and Guardian 3 is rarely linear; there are always potholes. And as Donald Trump's vacillations on tariffs have shown, there is real impact on the car and truck industry from political interventions, however inured financial markets may be to such pettiness. That said, Seeing Machines is definitely one for the watch list.
