QUEBEC CITY, May 7, 2024 /PRNewswire/ -- LeddarTech Holdings
Inc. ("LeddarTech") (Nasdaq: LDTC) and
Immervision Inc. are pleased to jointly announce a
collaboration that aims to streamline the perception model training
process with a view to making it faster, more cost-effective and
less data-intensive. LeddarTech is an automotive software company
that provides patented disruptive AI-based low-level sensor fusion
and perception software technology, LeddarVision™, for advanced
driver assistance systems (ADAS) and autonomous driving (AD) and
parking applications. Immervision is a leading developer of
advanced vision systems combining optics, image processing and
sensor fusion technology.
This joint effort combines LeddarTech's expertise in AI-based
low-level sensor fusion and perception software technology and
Immervision's leadership in advanced vision systems, creating a
powerful synergy intended to improve ADAS and AD perception
training.
The goal of perception technology in ADAS is to provide accurate
and timely information to the vehicle's control system, enabling it
to make informed decisions and assist the driver in various driving
tasks, such as collision avoidance, lane keeping and adaptive
cruise control. However, the development and validation process
requires costly data collection and labeling.
LeddarTech and Immervision's collaboration aims to improve and
significantly optimize this process by allowing large-scale data
re-usability. The breakthrough achieved by their research teams
allows the re-use of data across various ADAS and AD platforms,
with zero simulation-to-reality gap. This means that existing data
assets can now be leveraged for new platforms, significantly
shrinking the development time and cost for the perception models,
thus enabling a faster and more cost-effective development cycle
for the complete system. This optimization is expected to result in
a more cost-effective and safer future for ADAS and AD.
The companies intend to demonstrate this technology in Q3 of
2024.
"At Immervision, our partnership with LeddarTech is a leap
forward in refining the training of perception software. We are
pioneering a method to train these systems faster and
cost-effectively, minimizing the need for extensive data gathering.
This advancement is a game-changer in reducing the risk associated
with developing advanced vision systems", stated Michel Van
Maercke, CEO of Immervision. "Through our joint efforts with
LeddarTech, we intend to streamline the evolution of ADAS and AD
technologies, accelerating our journey towards a safer, more
efficient autonomous future."
Pierre Olivier, LeddarTech's
Chief Technology Officer, stated: "I am enthusiastic about this
collaboration, which has the potential to significantly accelerate
the development and deployment of ADAS and AD solutions. LeddarTech
and Immervision have collaborated before, and our teams share a
common vision of the contribution that tools and data can make in
realizing the dream of fully autonomous vehicles."
About Immervision Inc.
With over 20 years of innovation, Immervision creates solutions
that see beyond human vision. Its Deep Seeing technology and
renowned experts in wide-angle vision systems, optical design and
image processing enable smart devices with superhuman eyes to
capture high-quality visual and contextual data. The company
invents, customizes and licenses wide-angle camera solutions and
imaging software technology for AI, machine vision and user
applications, from capture to display, in the mobile, automotive,
robotics, security and other industrial and consumer product
industries.
For more information about Immervision, visit
www.immervision.com and LinkedIn.
About LeddarTech
A global software company founded in 2007 and headquartered in
Quebec City with additional
R&D centers in Montreal and
Tel Aviv, Israel, LeddarTech
develops and provides comprehensive AI-based low-level sensor
fusion and perception software solutions that enable the deployment
of ADAS, autonomous driving (AD) and parking applications.
LeddarTech's automotive-grade software applies advanced AI and
computer vision algorithms to generate accurate 3D models of the
environment to achieve better decision making and safer navigation.
This high-performance, scalable, cost-effective technology is
available to OEMs and Tier 1-2 suppliers to efficiently implement
automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing
innovations, with over 160 patent applications (87 granted)
that enhance ADAS, AD and parking capabilities. Better awareness
around the vehicle is critical in making global mobility safer,
more efficient, sustainable and affordable: this is what drives
LeddarTech to seek to become the most widely adopted sensor fusion
and perception software solution.
LeddarTech might, in the scope of collaborations, partnerships
and projects, from time to time, collect with test vehicles
personal information, i.e., information that directly or indirectly
identifies members of the public. Collected personal information
may be processed, used, stored and communicated by LeddarTech
within the scope of developing and training our software and
products. For further information about the processing activities,
which include the collection, use, storage and communication of the
personal information, as well as the associated personal
information protection rights and how to exercise them, please
consult LeddarTech's Privacy Policy and Immervision's Privacy
Notice.
Additional information about LeddarTech is accessible at
www.LeddarTech.com and on LinkedIn, Twitter (X),
Facebook and YouTube.
Forward-Looking
Statements
Certain statements contained in this Press Release may be
considered forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (which forward-looking
statements also include forward-looking statements and
forward-looking information within the meaning of applicable
Canadian securities laws), including, but not limited to,
statements relating to LeddarTech's anticipated strategy, future
operations, prospects, objectives and financial projections and
other financial metrics. Forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
"may," "will," "should," "would," "expect," "anticipate," "plan,"
"likely," "believe," "estimate," "project," "intend" and other
similar expressions among others. Statements that are not
historical facts are forward-looking statements. Forward-looking
statements are based on current beliefs and assumptions that are
subject to risks and uncertainties and are not guarantees of future
performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various
factors, including, without limitation: (i) the possibility that
anticipated benefits of LeddarTech's recent business combination
will not be realized; (ii) the risk that shareholder litigation in
connection with the business combination or other settlements or
investigations may result in significant costs of defense,
indemnification and liability; (iii) changes in general economic
and/or industry-specific conditions; (iv) possible disruptions from
the business combination that could harm LeddarTech's business; (v)
the ability of LeddarTech to retain, attract and hire key
personnel; (vi) potential adverse reactions or changes to
relationships with customers, employees, suppliers or other
parties, including as a result of the business combination; (vii)
potential business uncertainty, including changes to existing
business relationships following the business combination that
could affect LeddarTech's financial performance;
(viii) legislative, regulatory and economic developments; (ix)
unpredictability and severity of catastrophic events, including,
but not limited to, acts of terrorism, outbreak or escalation of
war or hostilities and any epidemic, pandemic or disease outbreak
(including COVID-19), as well as management's response to any of
the aforementioned factors; (x) access to capital and financing and
LeddarTech's ability to maintain compliance with debt covenants;
(xi) LeddarTech's ability to execute its business model, achieve
design wins and generate meaningful revenue; and (xii) other risk
factors as detailed from time to time in LeddarTech's reports filed
with the U.S. Securities and Exchange Commission (the "SEC"),
including the risk factors contained in LeddarTech's Annual Report
on Form 20-F for the fiscal year ended September 30, 2023. The foregoing list of
important factors is not exhaustive. Except as required by
applicable law, LeddarTech does not undertake any obligation to
revise or update any forward-looking statement, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact:
Daniel Aitken, Vice-President,
Global Marketing, Communications and Investor Relations, LeddarTech
Holdings Inc. Tel.: + 1-418-653-9000 ext. 232
daniel.aitken@LeddarTech.com
- Investor relations website:
investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com
- Financial media contact: Dan
Brennan, ICR Inc. dan.brennan@icrinc.com
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive,
VayaVision and related logos are trademarks or registered
trademarks of LeddarTech Holdings Inc. and its subsidiaries. All
other brands, product names and marks are or may be trademarks or
registered trademarks used to identify products or services of
their respective owners.
LeddarTech Holdings Inc. is a public company listed on the
Nasdaq under the ticker symbol "LDTC."
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