Indie Semiconductor will supply a major Indian carmaker with software to monitor driver drowsiness, responsiveness and distraction.
Indie’s Cabin Eye automobile monitoring software will be used by Mahindra & Mahindra Ltd for the Indian company’s electric-powered SUVs, under the strategic partnership.
Indie’s software was developed by emotion3D, an Austrian company that Aliso Viejo-based Indie acquired last year.
The software will be integrated with EyeDentity, Mahindra’s proprietary camera-based driver and occupant monitoring systems, Indie said in a statement. Financial details were not released.
Mahindra’s monitoring system “will ensure that its vehicles can be continuously updated and remain current,” Indie said.
The system also keeps track of a car’s “occupant presence and position.”
Indie Went Public in 2021
It’s the latest advance for Indie Semiconductor, which is seeking to revolutionize car driving and is using its sensors to make crash-proof cars.
Indie went public almost five years ago through a reverse merger and has been seeking to turn a profit ever since.
Indie’s stock closed at $9.47 apiece as of June 15, 2021, four days after the start of public trading. It has slid to $3.80 apiece for a market cap of $770 million as of Feb. 13.
Indie Semi is scheduled to release fourth-quarter and full-year earnings on Feb. 19.
Analysts expect a quarterly loss per share of 7 cents. Quarterly revenue of $57.1 million is predicted, down slightly from last year’s $58 million.
Mahindra Recently Launches Two eSUVS
Indie’s partnership with Mahindra, one of India’s leading car makers, was announced on Feb. 4.
Mahindra recently launched BE 6 and XEV 9e electric origin Sport Utility Vehicles (eSUVs).
Mahindra’s monitoring capability is already in active use on the road across multiple Mahindra electric-powered SUVs.
