Fouriertransform AB, a state-owned venture capital company based in Stockholm, Sweden, is investing a total of SEK 25 million in the eye-tracking technology company Smart Eye AB in Gothenburg, the country’s second largest city. The financing comes through a combination of a directed new share issue and a loan. Following the transaction, Fouriertransform`s shareholding will be 15 percent.
PRESS RELEASE:
Fouriertransform AB is investing a total of SEK 25 million in Smart Eye AB in Gothenburg, through a combination of a directed new share issue and a loan. Following the transaction Fouriertransform`s shareholding will be 15 percent.
Smart Eye is a leading supplier of so-called “eye tracking” technology to the automotive industry. The company also develops and sells “eye sensor” software and systems to a variety of customer segments for example to test facilities in the aerospace industry and for medical applications. More than 90 percent of sales are to countries outside Sweden.
“Smart Eye has built up unique expertise in camera systems, eye tracking and image processing. Following on from successes involving a number of different applications, Smart Eye products will become important modules in the safety and comfort systems of the vehicles of the future. Our investment will provide a basis for the important product development and market expansion on which Smart Eye will now be focusing,” says Per Nordberg, CEO of Fouriertransform AB.
Smart Eye`s main product Smart Eye Pro, which can be equipped with up to eight cameras, is a high quality system aimed at users with high requirements of measurement accuracy and flexibility. Its second product range, Smart Eye Anti
Sleep, is based on the same technology, and has been developed further to meet requirements within the automotive industry.
“The company management saw the need for a financial partner in order to meet the strong growing international demand and to allow the company to make the strategic investments that are now required. For Smart Eye, Fouriertransform is
an ideal shareholder. Its focus on the automotive industry and long-term approach were crucial factors in our choice of investor. We are looking forward to our future partnership,” says Martin Krantz, CEO of Smart Eye AB.
Fouriertransform is a state-owned venture capital company tasked with supporting, on a commercial basis, innovative companies and entrepreneurs who can help revitalize the Swedish automotive industry. The company has a total
investment framework of SEK 3 Billion and, in addition to capital, provides expertise through its highly qualified employees and a network of experts.
The post Fouriertransform Invests in Smart Eye appeared first on peHUB.