Seeing Machines – looking ahead

Seeing Machines, the Australia-based, but AIM listed provider of visual computing systems that track faces, eyes and facial features in real-time, has announced the successful pre-placement of a £15m capital raising. The new shares have been placed with institutions and will thus stiffen the shareholder base as the company continues its growth plans.

Full year results (to end June) showed revenue up 63% to A$12.7m (c.£7m) with gross profit up 74% and a move into the black at the net profit line, to A$0.6m (c.£310k). Particular growth is being seen in the use of the company’s specialist technology in driver safety systems, to detect the signs of fatigue, with several big orders in the mining industry. The company envisages a wider use for this system in the next generation of cars and trucks. In addition, the company is developing a range of advanced eye-testing machines. As a result they forecast strong growth in the current financial year.

Looking ahead to a Big Data world, as companies seek to understand how customers interact with devices, or other people, or even with how supermarket shelves are laid out, the specialist capabilities of Seeing Machines may well find many innovative uses – and the company now has a stronger capital base from which to develop. 

Posted by Peter Roe at '09:29' - Tagged: bigdata