AcuityAds Inc. Receives Approximately CAD $500,000 Order from a Global Appliance Company
TORONTO, Ont. – June 23, 2015 – AcuityAds Holdings Inc. (TSXV:AT) (“AcuityAds” or “Company”), a leading provider of targeted digital media solutions, enabling advertisers to connect intelligently with their audiences across online display, video, social and mobile campaigns, today announced that the Company has received an order for approximately CAD $500,000 from a major global appliance company to deliver a strategic advertising campaign for a period of three months.
“The everyday purchase of appliances for an average household remains a process that is conducted in store by consumers that are able to research different products prior to purchasing them,” said Tal Hayek, CEO of AcuityAds. “In recent years, the process of researching for goods and services has shifted away from in store to digital. As a result, this leading brand sees the importance to expand their online presence through a strong programmatic advertising platform aimed at capturing a target market that spends more time researching products online rather than in store.”
The retail industry represents one of six core vertical areas of focus for AcuityAds that, combined with third party data source integrations, enables AcuityAds to deliver greater granularity in audience targeting. In addition to retail, AcuityAds’ other core verticals are financial services, automotive, healthcare, politics, and entertainment.
The Company also announces that it has granted an aggregate amount of 26,750 stock options on today’s date to a consultant of the Company in accordance of the provisions of the Company’s Stock Option Plan, subject to approval of the TSXV. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.75 for a period of five years. The options granted will vest in equal quarterly instalments over the next 12 months.
About AcuityAds:
AcuityAds has developed a programmatic marketing platform powered by proprietary machine learning technology that allows advertisers to target and connect intelligently with their audiences across online display, video, social and mobile campaigns. With operations in New York, Toronto, Los Angeles, Montreal, and Boston, AcuityAds’s customers include both large Fortune 500 enterprises and small to mid-sized businesses. For more information, visit www.acuityads.com.
For further information, please contact:
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.com
Tal Hayek
Chief Executive Officer
AcuityAds Inc.
416-218-9888
tal.hayek@acuityads.com
Toronto’s Financeit wants to be the money lender for the smartphone age
Describing anything in the financial industry as “fair, transparent and open” may come off as a misnomer for most people, but Toronto-based Financeit firmly believes that’s exactly what it offers.
Financeit is a middleman — the kind that brings together lenders (like big banks and other institutions) and small and medium-sized businesses, so they can offer consumer financing to their customers. Independent merchants, sole proprietors and mom and pop shops are the lion’s share of the 4,000 vendors the company currently has under its belt. All told, there are a whopping $928 million in loan applications received to date, and plenty of them are wielding phone and tablet point-of-sale (POS) systems, according to the company.
Peer-to-peer lending has become a thing in the U.S. with LendingClub and Prosper, as well as in the U.K. with LendingCrowd and Zopa. CommunityLend was Canada’s first P2P lender until its founders pivoted toward what is now Financeit.
The company focuses on four verticals — home improvement, retail, health care and automotive — because those typically have big ticket products or services that people may need to pay over time. Rather than put it on a credit card, which can accrue an annual interest rate of up to 19%, a consumer can apply for a loan through a merchant using Financeit for between 6.99-12.99%.
The debt is treated more like a mortgage or car payment, where monthly payments, with or without interest, are laid out equally over the term of the loan. The balance can be paid down as quickly or as often as one chooses because there are no penalties for doing so.
“The problem we’ve been trying to solve is to help these small to medium-sized businesses with the toolkit that’s traditionally only been available to enterprises,” says Casper Wong, co-founder and COO at Financeit in an interview. “About 20% of our volume is retail. Sole vendors running around with a Square or Shopify swiper attached to their phones can apply to work with Financeit.”
A pending deal with Shopify is in the works, Wong told me, and it may help integrate the service further for vendors using Shopify’s tools to run their businesses. The focus is still entirely on brick-and-mortar, but since merchants using Square, Shopify and others like them have physical POS systems, they are essentially the same as someone with a storefront.
As Square and Shopify terminals process credit cards and not debit cards, Financeit has a workaround that enables debit payments.
“We pay the merchant upfront for the cost of the purchase, and then deal directly with the consumer in servicing the loan. The payment plan is not actually with the merchant, it’s with Financeit,” explains Daniel Mayne, the company’s director of customer service.
In other words, a customer pays Financeit directly, and can do so using pre-authorized debit to make the installment payments instead of a credit card, thus avoiding any extra interest. This also makes it possible for approved vendors to offer customers more than one payment option. For example, an independent jeweler who sells his or her wares online or via different conventions and trade shows can still sell to customers who don’t have credit cards or the cash for a bigger ticket item.
The one thing that slows this process down, however, is that it requires work on both ends. Using the free iOS app, a store owner can scan a customer’s driver’s license on the spot to walk them through the steps to see what kind of loan they might qualify for. The merchant doesn’t store any of that personal data, whereas Financeit does if the loan is approved and the customer signs off. Customers can also do it in advance on their own through the vendor’s website when the dynamic Financeit application is available.
It’s not a cakewalk though. Financeit staff assess affordability on some key factors that include debt servicing and disclosed housing costs, but there is room to adjust if initially declined, which may be finding a co-borrower or asking for less money. Merchants can also turn down deals they don’t like, says Wong.
At the moment, the iOS app is geared towards the merchant, but there are notions of how it could be adapted for consumers down the road.
“The idea of letting a consumer carry their identity on their phone and then use that as a faster way to apply for a loan is something we can use down the road, like Touch ID to auto-fill info, for instance,” says Wong. “We’re looking at other technologies where you can type in your cell number and social insurance number, pull all your info and send it the credit bureau, so you can basically apply for a loan using only your cell number.”
Businesses who want to work with Financeit also have to meet various criteria, starting with having been around for at least two years. The company doesn’t lend money or invest in startups or take part in crowdfunding campaigns, so there is no real fundraising element to this. The criteria gets stiffer depending on the business and vertical, so a contractor will have to jump over more hurdles than, say, a dentist or furniture store. Naturally, there are “checks and balances” in place to avoid money laundering or fraud schemes. There are no fees to join Financeit, or residual monthly or transaction fees, either.
Since smartphones and tablets can be big-ticket items, especially on the higher end, I asked Wong and Mayne about the possibility of financing options for them. Wong noted that there are “talks with one of the Big 3 carriers” on a potential partnership that would allow consumers to buy a phone outright and pay it off in installments without having to sign a contract.
Though it recently changed vendors, Visions Electronics was the largest consumer electronics retailer using Financeit, but no mobile device chains or big box stores are currently doing so. Mayne pointed out that consumers can call Financeit to be directed to retailers who might be able to offer financing plans for mobile devices, or any other particular product or service they might be looking for within the four verticals.
“We tell merchants that we are an extension of their brand, and we underwrite every business that comes on board. And for consumers, we offer no fine print and clear terms so that they know what they’re going to pay upfront with no backdated interest or other hidden fees,” says Mayne.
Dealer-FX Named TU-Automotive’s 2015 Industry Newcomer Award Winner
Las Vegas & Toronto, June 15, 2015 – Dealer-FX, a company regarded for its commitment to innovation in automotive software solutions with its inclusion as a Technology Fast 500 company, further cemented that status after being selected as the TU-Automotive 2015 Industry Newcomer. Dealer-FX representatives were on hand to accept the award at the recent TU-Automotive show in Detroit, Michigan.
The TU-Automotive Awards celebrate the best companies in the connected car industry. The awards are designed to highlight emerging talent and established players in this space.
“We are thrilled to receive the Telematics Update Industry Newcomer award for 2015. This recognition is a testament to the investments we’ve made in developing cutting edge mobile and customer-centric products,” said Gary Kalk, President & CEO of Dealer-FX. “Our company and our products are focused on helping our OEM and dealer clients prepare for the connected car revolution and the connected service experience.”
Dealer-FX recently announced 1 Solution 3.0, a suite of products that is changing the way service departments engage with customers and handle the connected vehicle. With it, Dealer-FX is enabling service departments and future-proofing their ability to meet the changing expectations of customers who are becoming better informed of service issues; it is likewise assisting dealers in managing workflow and driving process improvements.
To learn more about Dealer-FX’s commitment towards driving the future of connected service lane technology, please be sure to visit www.connectedservicelane.com.
source: http://www.dealer-fx.net/dealer-fx-named-tu-automotives-2015-industry-newcomer-award-winner/
BFM TV, France’s First 24-Hour News Channel, Expands Mobile Newsgathering Capabilities With Dejero LIVE+ Mobile App
WATERLOO, Ontario — June 4, 2015 — Dejero today announced that BFM TV, France’s premier 24-hour television news channel, is expanding and enhancing its field newsgathering capabilities using the Dejero LIVE+ Mobile App for iOS devices. BFM TV is deploying the app to staff reporters, news freelancers, and other personnel, giving them the ability to cover live events and breaking news, when and where it happens, using only their Apple iPhones or iPads.
“With the LIVE+ Mobile App from Dejero, it’s very easy for our reporters to transmit live, high-quality video without the need for a camera crew or any specialized expertise,” said Quentin Guiné, engineering maintenance and operation manager, BFM TV. “Of all the solutions we evaluated, the LIVE+ Mobile App is by far the easiest to use and provides the best picture quality and cell bonding performance. Our users just press a button on their devices to start transmitting broadcast-quality video.”
Ideal for mobile journalists and professional video contributors, the LIVE+ Mobile App transforms an Apple iPhone or iPad into a powerful tool for broadcasting live video, recording content for later broadcast, or importing and uploading edited video files. So far, BFM TV News has equipped its correspondents in New York City and Washington, D.C., with the apps, with long-term plans to deploy them to field news personnel worldwide.
BFM TV uses LIVE+ Control, Dejero’s cloud management tool, to monitor live video feeds from the apps. The feeds are then routed to a LIVE+ Broadcast Server in the network’s Paris broadcast center for playout to air.
“In only a couple of years, BFM TV has become the most watched news network in France, with more than 10 million daily viewers and an audience that rivals any equivalent news channel in the world,” said Brian Cram, CEO, Dejero. “In order to maintain its market share, BFM TV recognizes that it must provide the most current and breaking news from anywhere and at any time. Our LIVE+ Mobile App is playing a big role in this effort by giving solo videojournalists the ability to use available 3G, 4G, or LTE networks and Wi-Fi hotspots to transmit content that would otherwise be too expensive and difficult to capture using traditional technologies.” Running on iPhone or iPad, LIVE+ Mobile App Enables Remote Reporters to Stream Live, High-Quality Video From the Source of Breaking News.
Dealer-FX Recognized as TU-Automotive Industry Award Finalist
Dealer-FX, already known for its long-standing commitment to innovation in automotive software solutions, has moved one step further to cementing itself as an industry leader by receiving recognition as a TU-Automotive Award finalist for Best Industry Newcomer.
The TU-Automotive Awards celebrate the best companies in the connected car industry. The awards are designed to highlight emerging talent and established players in this space.
Being named a finalist highlights Dealer-FX, recently recognized as a Technology Fast 500 company, as a progressive leader in connected service lane technology and one that is poised to better connect dealer business operations with the connected vehicle.
Dealer-FX recently announced 1 Solution 3.0, a suite of products that is changing the way service departments engage with customers and handle the connected vehicle. With it, Dealer-FX is enabling service departments and future-proofing their ability to meet the changing expectations of customers who are becoming better informed of service issues; it is likewise assisting dealers in managing workflow and driving process improvements.
By arming service advisors with advanced service information and responsive mobile technology tools, Dealer-FX can assure dealerships of a serious commitment to increasing their bottom line revenue, growth in maintenance penetration, and enhanced customer satisfaction.
Gary Kalk, President and CEO of Dealer-FX, will be both leading a Telematics workshop as well as participating as a guest panelist. He is excited to be speaking about how telematics is driving new customer expectations and what that means for dealership service departments across the continent. “The relationship between customer and service department is being flipped on its head. Customers are now being informed by their connected vehicles and service departments need effective tools to respond. Staying competitive and capitalizing on service opportunities at the dealership requires progressive mobile solutions that provide consumers with information and keep them engaged on the drive. Delivering an accurate, consistent and transparent experience fosters trust which translates into loyalty and greater profits over time. The TU-Automotive award is prestigious, and being a finalist is a testament to the investments we’ve made in developing cutting edge mobile and customer-centric products.”
Dealer-FX’s products have been well received in the marketplace for some time now, and their 1 Solution 3.0 provides a mobile platform with advanced and intuitive user interfaces. They have also expanded the breadth of their offerings with a forthcoming Route Sheet, the ultimate dynamic display in real-time customer lifecycle management, which will provide predictive customer journey analytics to enable dealerships to better manage retention, mitigate customer defection, and drive repeat purchases. It will also allow dealers to improve workflow and tactically execute on delivering a superior customer experience.
Kalk adds, “This award recognition will enable Dealer-FX to expand its awareness and assist clients beyond North America. We’re very much looking forward to seeing where the future leads.”
Source: http://www.dealer-fx.net/dealer-fx-recognized-as-tu-automotive-industry-award-finalist/
Dejero LIVE+ NewsBook Software Updated to Enable Video Uplinks Using BGAN Satellite Terminals
Dejero today announced an update of its LIVE+ NewsBook software for Mac notebooks. LIVE+ NewsBook transforms a Mac notebook into a highly versatile “go-anywhere” video uplink solution for transmitting live HD or SD video feeds, as well as recorded and edited files, back to the broadcast facility. With the new release, LIVE+ NewsBook now supports the use of portable Broadband Global Area Network (BGAN) terminals that enable Internet connectivity from anywhere in the world covered by Inmarsat’s satellite network. In addition to BGAN support, the new release increases the live-streaming maximum bit rate to 10 Mb/s, enabling exceptional picture quality, and offers other performance enhancements.
“The LIVE+ NewsBook software is the perfect solution for field reporters, foreign correspondents, and video production professionals who need to send live or recorded video content from remote locations while traveling with as little gear as possible. And now, with the latest release, the software is even more versatile than ever,” said Brian Cram, CEO, Dejero. “In addition to other connection paths such as cellular, Wi-Fi, and Ethernet, users can now access the BGAN global satellite network — making it easier than ever to cover breaking news and live events while transmitting broadcast-quality content from remote locations.”
The NewsBook software bonds multiple cellular, Wi-Fi, Ethernet, and portable satellite connections to create an aggregated data path for the transmission of high-quality, high-reliability, and low-latency video. This capability makes the solution ideal for everyone from foreign correspondents of major news networks to freelance stringers, mobile media journalists, and “one-person-bands” that act as reporter, producer, editor, and on-air talent to create a virtual news bureau from any location.
The addition of support for BGAN terminals adds another connectivity option for these users, enabling them to send live or recorded video from the field simply by connecting a compact and portable BGAN terminal to the Mac notebook using an Ethernet cable. The BGAN connection can be bonded with other available networks to increase the bit rate and deliver optimal picture quality, or it can stand alone in places where other wired or wireless network connections are not available. The NewsBook software automatically optimizes transmission settings when a BGAN connection is selected.
As with the other mobile transmitters and applications that are part of the LIVE+ video platform, live feeds and recorded content encoded and transmitted by the NewsBook software are monitored, previewed, and routed from LIVE+ Control, Dejero’s cloud management tool.
AcuityAds Announces Q1 2015 Financial Results
AcuityAds Holdings Inc. (TSXV:AT) (“AcuityAds” or “Company”), a leader in online and mobile advertising, today announced first quarter (Q1) financial results for the three month period ended March 31, 2015.
“We are delighted to have continued our revenue growth in Q1 2015, during a quarter that is typically the slowest in the advertising industry,” said Tal Hayek, CEO of AcuityAds. “Furthermore, as a result of investments made in earlier quarters, we saw our US revenues grow by 54% and our SaaS-based Self Service revenues improve by 157% year over year. “
“The Company is seeing significant signs for a strong second quarter,” continued Mr. Hayek. “With this anticipated strong revenue growth in Q2 2015 and the rigorous cost cutting completed in early Q1 2015, we expect to return to EBITDA positive in the next few quarters.”
Financial Highlights
• In line with expectations, total revenue for Q1 2015 increased by 10% to $3,048,732, compared to $2,776,817 in Q1 2014, while gross profit over the same period improved 13%.
• Self-Service revenue for Q1 2015 increased by 157% to $588,303, compared to $228,849 in Q1 2014.
• US Revenue for Q1 2015 increased by 54% to $746,535, compared to $485,507 in Q1 2014.
• The Company surpassed expectations by reducing operating expenses to $2,673,966 in Q1 2015 from $3,220,527 in Q4 2014.
• Adjusted EBITDA loss of $960,695 in Q1 2015, compared to an adjusted EBITDA loss of $392,348 in Q1 2014. Adjusted EBITDA was consistent with the adjusted EBITDA loss of $864,051 in Q4 2014, which saw revenues of nearly $1.4M higher in that period.
• Net loss and comprehensive loss for Q1 2015 was $1,437,999, compared to loss of $732,244 in Q1 2014.
• As at March 31, 2015, the Company’s cash balance was $981,158 compared to $1,428,642 as at December 31, 2014.
• Subsequent to the quarter the Company raised gross proceeds of approximately $3,000,000 via a brokered Short Form Prospectus Offering.
Operational Highlights
• During the quarter the Company increased its active licensees of its self-service technology (SaaS) to 22 from 19 in previous quarter.
• During the quarter, David Andrews, CPA, CA, joined the Company as the new Chief Financial Officer.
• During the quarter, the Company entered into a partnership with SlimCut Media to deliver in-stream video ad units across SlimCut Media’s video platform.
• Subsequent to the quarter, Acuity received a $500,000 media order from a leading North American automotive dealer.
The Company also announces that it has granted an aggregate amount of 145,000 stock options on today’s date to directors and employees of the Company in accordance of the provisions of the Company’s Stock Option Plan, subject to approval of the TSXV. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.78 for a period of five years. The options granted to the directors will vest immediately, and options granted to employees will vest in equal instalments over the next 36 months.
AcuityAds Announces Closing of $3 Million Public Offering
AcuityAds Holdings Inc. (“AcuityAds”, or the “Company”) (TSX-V:AT), is pleased to announce the closing of its short form prospectus offering (the “Offering”) of common shares of the capital of the Company (the “Offered Shares”). Pursuant to the Offering, the Company issued 4,288,100 Offered Shares, at a price of $0.70 per Offered Share (the “Offering Price”), for gross proceeds of approximately $3 million. The Offering was co-led by Paradigm Capital Inc. and Beacon Securities Limited (together, the “Agents”).
Pursuant to an agency agreement entered into among the Agents and AcuityAds in connection with the Offering, the Company has granted the Agents the option, exercisable in whole or in part, to arrange for additional purchasers to purchase additional common shares in the capital of the Company in an amount equal to 15% of the Offered Shares sold pursuant to the Offering at the Offering Price for a period of 30 days following closing of the Offering in order to satisfy over-allotments and for market stabilization purposes.
The net proceeds from the Offering are expected to be used by the Company for general working capital purposes, including for research and development, sales, operations and business development and product marketing.
In connection with the Offering, the Agents were paid a cash commission equal to 7% of the gross proceeds, excluding subscriptions by insiders of the Company. The Agents also received compensation options entitling the Agents to subscribe for such number of common shares in the capital of the Company that is equal to 7% of the aggregate number of Offered Shares under the Offering (the “Agents’ Options”). The Agents’ Options will be exercisable for a period of 24 months following closing of the Offering at a purchase price per share equal to the Common Share issue price.
This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Following the completion of the Offering, the total number of the Company’s common shares issued and outstanding is 25,090,518.
CogniVue Delivers Key Weapon in the Battle for ADAS Market Share: “Opus” Vision Processing Core Enables Critical Competitive Advantages
CogniVue Corporation, a leader in embedded vision which licenses its APEX™ Image Cognition Processor (ICP) technology to semiconductor vendors, announced that its new APEX Processing Core – Opus – is at the center of the intense battle for Advanced Driver Assistance Systems (ADAS) market share as challengers to Mobileye, the current market share leader, line up to capture business for next-generation ADAS systems.
“Freescale’s S32V234 automotive vision processor is already benefitting from the performance per power advantage of the APEX image cognition processor technology with support for OpenCL,” commented Matt Johnson, Vice President and General Manager – Automotive MCU at Freescale. “We see the need for continuous improvements in performance and expect this to continue with CogniVue’s next generation APEX core.”
Next generation ADAS systems will provide a range of critical new autonomous driving functions requiring orders of magnitude more performance than previous offerings. The Opus APEX core from CogniVue with its dramatic advances in performance per power arrives at a critical time in this disruption of the ADAS market.
“CogniVue APEX technology provides significant performance per power advantages for Advanced Driver Assistance Systems (ADAS) market,” said Wayne Dai, president and CEO of Verisilicon. “As a Silicon Platform as a Service (SiPaaS) company, Verisilicon provides custom silicon solutions and end to end semiconductor turn-key services for automotive electronics, integrating our HD audio, HD video, and HD voice IPs with CogniVue APEX imaging and vision processing technology.”
The CogniVue Opus APEX core delivers an unprecedented level of performance per power for embedded vision processing, enabling its semiconductor customers to leap frog the latest silicon offerings from Mobileye. In turn, Tier 1 competitors to Mobileye will have the System on Chip (SoC) platforms they need to develop CogniVue-based ADAS systems to seize market share from Mobileye.
Opus APEX is driving a 5x-10x increase in performance per power vs the previous G2-APEX, and directly benefits from the tools and ecosystem that CogniVue has built around their successful APEX line. There is the unique APEX Core Framework algorithm development tool that automates algorithm optimization on the APEX architecture, APEX-CV with its broad range of image and vision processing algorithms, and the growing APEX Partner Program with “APEX-Certified” software IP and design services providers.
“Neusoft has already developed ADAS applications on the existing APEX ICP core,” said Professor Huai Yuan, Director of Advanced Automotive Electronic Technology Research Center, Neusoft, one of CogniVue’s APEX Partners. “We expect new autonomous vehicle applications will take full advantage of the additional performance per power improvement in what is already a leading vision processor technology.”
“CogniVue has been anticipating this ADAS market showdown and we are ready to equip competitors to Mobileye with the performance and cost advantages they need to capture new ADAS opportunities,” said Simon Morris, CEO of CogniVue. “We have the innovation, technology and engagement with dominant players in the automotive market and key SoC suppliers to be a key enabler of next-generation ADAS and autonomous driving.”
The Opus APEX core will be available later in 2015 and its introduction is timed well for a wave of next generation systems from Tier 1’s vying for their share of a rapidly growing ADAS and autonomous driving market.
Source: https://finance.yahoo.com/news/cognivue-delivers-key-weapon-battle-150000316.html
Vision Core Tightens its Focus
Startup CogniVue announced some details of its next-generation vision core that will be available this fall. Opus is the next offering in an increasingly crowded field of vision chips, initially gaining traction in automotive markets.
Opus will sport 5-10 times the performance of CogniVue’s existing vision accelerator core, the G2-Apex, as well as better performance per power and area. The advances come from the new core’s mixed 32- and 64-bit VLIW architecture, wider memory bandwidth, better control of on- and off-chip memory and near gigahertz data rate.
The core also supports more options for closely and loosely coupled multiprocessing. In addition, it now supports both Cascade Classifiers, used in car vision systems to detect pedestrians and traffic signs, as well as Convolutional Neural Networks, widely used models for image and video recognition.
Freescale designed CogniVue’s first-generation cores into its automotive vision SoCs now in use at some car and accessory makers. However archrival Mobileye, a supplier of integrated vision subsystems, commands as much as 80% of the market for car vision systems.
“CogniVue’s partnership with Freescale is an early example of an emerging trend much in evidence at this week’s Embedded Vision Summit” where the core was announced, said Jeff Bier, founder of the Embedded Vision Alliance. “Processor suppliers are increasingly optimizing their chips and development tools for computer vision applications, like automotive safety,” Bier said.
Other chip makers including Imagination Technologies, NXP and Texas Instruments, are jumping into the emerging market. CogniVue’s most direct competitors are Cadence and Ceva that have launched vision-processing cores and have established IP businesses.
CogniVue chief executive Simon Morris dismissed the TI and Imagination offerings as not optimal for vision. The TI chips are based on DSPs with vision accelerators and the Imagination cores are modified GPUs, he noted.
Both products tend to use more power for the data-intensive vision algorithms, said Morris, a former TI engineer. Indeed, CogniVue estimates that the data processing requirements in next generation ADAS systems will increase by about a factor of 100 as a result of increasing data bandwidth from use of multiple and higher resolution 1080p sensors as well as the increasing number and complexity of embedded vision algorithms running concurrently.
“You are using multiple algorithms running on pixel data, and it’s a data movement problem to avoid burning too much power,” he said.
The so-called Advanced Driver Assistance Systems (ADAS) are leading the charge in adopting embedded vision. Car makers already have several models that come with such features as automatic cruise control, lane departure, blind-spot detection and road-sign recognition.
ADAS is the fastest growing segment in automotive electronics at 20% according to Strategic Analytics. Cars will pack 197 million cameras by 2020, according to ABI Research.
“That’s our beachhead,” said Morris who also foresees use in wearables in smartphones further down the road. “A lot of semiconductor companies are pushing into this space, but we are the only vision core used in automotive safety products today,” he said.