Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, and its wholly owned subsidiary Eye-Net Mobile Ltd., have successfully completed a technology validation phase with SoftBank Corp. As a result, the entities will partner to initiate sales efforts with SoftBank’s key business partners and move forward with the commercial validation of Eye-Net’s solutions for improved collision prevention in the Japanese market. Eye-Net and SoftBank have been working together on a paid technological proof of concept (“POC”) project since last year. The technological POC was deemed successful after the Eye-Net Protect product met all of Softbank’s predefined key performance indicators. According to the announcement, testing confirmed the system performance and full compatibility with both long-term evolution (“LTE”) and 5G cellular networks. “We are thrilled that SoftBank has confirmed the successful completion of the technology validation phase and the compatibility of Eye-Net’s technology for both LTE and 5G cellular networks,” said Eye-Net Mobile CEO Dror Elbaz in the press release. “This milestone marks the beginning of collaborative efforts with SoftBank for commercial validation of Eye-Net’s products in Japan. Eye-Net is grateful to collaborate with SoftBank on the visionary path towards introducing a new social road safety approach. Our collaboration aims to offer an accident prediction and prevention solution that could protect millions of users from non-line-of-sight collisions and contribute to a safer Japanese mobile society.”
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About Foresight Autonomous Holdings Ltd.
Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at www.ForesightAuto.com.
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