Seeing Machines

finnCap have advised Seeing Machines Limited (AIM: SEE), the AIM listed technology company with a focus on operator monitoring and intervention sensing technologies and services, on their £17m placing.

Terry Winters, Seeing Machines’ Chairman, commented:

“We are delighted with the support shown by investors in the Placing and Subscription. We are seeing strong demand for our advanced Driver Monitoring Systems from global car makers and from their tier 1 suppliers. We previously considered spinning out our FOVIO automotive business however the Directors have resolved it is in the best interests of shareholders to retain full ownership. All our intellectual property including data, our SiP Driver Monitoring System chip and all our key staff will remain available to all Seeing Machines’ target industries.

We continue to execute on our multi-sector transportation market strategy and this capital raise supports the ongoing commercialisation of our technology across these target markets, including our FOVIO automotive business. I would like to thank investors for their support, and invite eligible existing shareholders to participate in the proposed capital raising by way of the Australian Offer and the Overseas Offer.”