Seeing Machines has entered into a program agreement with a German automotive equipment manufacturer to supply its driver-monitoring system technology into new automobile models.
The arrangement with the manufacturer was made in conjunction with a "major" automotive partner, Seeing Machines said, without naming any of the parties.
The deal could be considered a medium-value program, generating from A$10m-A$25m of revenue, based on the initial included models and lifetime volume projections, Seeing Machines said.
It could have the potential to become a large-value program of greater than A$25m in time.
"It is worth noting that volume projections can change materially, up or down, and as is typical in automotive industry contracts, there are no guarantees beyond engineering milestone payments," the company added.