InvestorNewsBreaks – Foresight Autonomous Holdings Ltd.’s (NASDAQ: FRSX) (TASE: FRSX) Eye-Net, Pango Collaborate to Change Road Safety Paradigm in Israel
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, today announced that its wholly owned subsidiary, Eye-Net Mobile Ltd., has signed a five-year commercial cooperation agreement with Pango Pay & Go Ltd. Pango is the developer of the leading mobility-as-a-service (“MaaS”) parking, vehicle, road services and payment application in Israel. Under the agreement, the parties will cooperate to integrate Eye-Net(TM) Protect products into Pango’s app as a software development kit (“SDK”). The integration will enable Pango app users to use the service operated by Eye-Net through the app, which is intended to provide a layer of protection to Pango’s users, potentially preventing accidents by alerting drivers and road users about oncoming collisions.
“During the past year, Eye-Net has focused on commercializing the Eye-Net Protect family of products in order to prove its outstanding potential in reducing the number of injuries and fatalities in road accidents. Collaborating with a strong partner like Pango will enable us to reach a critical mass of users, and we are grateful to have them as a partner in this endeavor,” said Dror Elbaz, COO and deputy CEO of Eye-Net Mobile. “This partnership will allow us to change the road safety paradigm in Israel, as we offer a comprehensive solution to protect not only drivers but also the most vulnerable road users, such as cyclists and pedestrians, using widely available cellular communication technologies. I believe that together we will set the mark on a new road safety model.”
To view the full press release, visit https://ibn.fm/FuLHs
About Foresight Autonomous Holdings Ltd.
Foresight 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’s 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 pre-collision 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 about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.ForesightAuto.com.
NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX
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