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– LeddarTech and Immervision Jointly Announce Collaboration to Accelerate Training of ADAS and AD Perception Models
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 with a view to making it faster, more cost-effective and less data intensive. LeddarTech is an automotive software company providing proprietary AI-based low-level sensor fusion and perception software technology, LeddarVision™, for advanced driver assistance systems (ADAS), autonomous driving (AD), and parking applications. . Immervision is a leading developer of advanced vision systems that combine 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 aimed at improving ADAS and AD perception training.
The goal of perception technology in ADAS is to provide accurate and timely information to the vehicle control system, allowing 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 expensive data collection and labeling.
LeddarTech and Immervision’s collaboration aims to significantly improve and optimize this process by enabling large-scale data reuse. The progress achieved by its research teams allows the reuse of data across various ADAS and AD platforms, without gaps between simulation and reality. This means that existing data assets can now be leveraged for new platforms, significantly reducing the time and cost of developing perception models, thus enabling a faster and more cost-effective development cycle for the entire system. This optimization is expected to result in a more cost-effective and secure future for ADAS and AD.
The companies aim to demonstrate this technology in the third quarter of 2024.
“At Immervision, our partnership with LeddarTech is a step forward in perfecting perception software. We are pioneering a method to train these systems more quickly and cost-effectively, minimizing the need for extensive data collection. This advancement changes the rules of the game in reducing the risk associated with the development of advanced vision systems,” said Michel Van Maercke, CEO of Immervision. “Through our joint efforts with LeddarTech, we aim to accelerate the evolution of ADAS and AD technologies, accelerating our journey towards a safer and more efficient autonomous future.”
Pierre Olivier, Chief Technology Officer at LeddarTech, explained: “I am excited 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 to realizing the dream of fully autonomous vehicles.”
About Immervision Inc.
With more than 20 years of innovation, Immervision creates solutions that go 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, computer vision and user applications, from capture to display, in the mobile, automotive, robotics, security and other industries. industrial and consumer products industries.
For more information about Immervision, visit www.immervision.com and LinkedIn.
About LeddarTech
LeddarTech, a global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions. that allow the implementation of ADAS, autonomous driving. (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced artificial intelligence and computer vision algorithms to generate accurate 3D models of the environment for better decision-making and safer navigation. This cost-effective, scalable, high-performance technology is available for OEMs and Tier 1-2 suppliers to efficiently operationalize ADAS solutions for automobiles and off-road vehicles.
LeddarTech is responsible for several innovations in remote sensing, with over 160 patent applications (87 granted) improving ADAS, AD and parking capabilities. Greater vehicle awareness is critical to making global mobility safer, more efficient, sustainable and affordable – this is what drives LeddarTech to seek to become the most adopted sensor fusion and perception software solution.
LeddarTech may, in the scope of collaborations, partnerships and projects, from time to time, collect with test vehicles personal information, that is, information that directly or indirectly identifies members of the public. LeddarTech may process, use, store and communicate personal information collected within the scope of development and training of our software and products. For more information on processing activities, including the collection, use, storage and communication of personal information, as well as the associated personal information protection rights and how to exercise them, please see the LeddarTech Privacy Policy and the Immervision 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 United States 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 regarding anticipated strategy, future operations, prospects and LeddarTech objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend on or refer to future events or conditions, and include words such as “may,” “will,” “should,” “expect,” “anticipate,” “plan,” “probable”, “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 statements as a result of various factors, including, but not limited to: (i) the possibility that the anticipated benefits of LeddarTech’s recent business combination may not be realized; (ii) the risk that litigation between shareholders in connection with the business combination or other agreements or investigations could result in significant costs of defense, indemnification and liability; (iii) changes in general and/or industry-specific economic conditions; (iv) potential disruptions resulting from the business combination that could harm LeddarTech’s business; (v) LeddarTech’s ability to retain, attract and recruit key personnel; (vi) potential adverse reactions or changes in relationships with customers, employees, suppliers or other parties, including as a result of the business combination; (vii) possible business uncertainty, including changes in 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 the administration’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 advancements and generate significant revenues; and (xii) other risk factors detailed from time to time in LeddarTech’s reports filed with the United States Securities and Exchange Commission (the “SEC”), including risk factors contained in LeddarTech’s Annual Report on Form 20-F for the fiscal year ended September 30, 2023. The above list of important factors is not exhaustive. Except as required by applicable law, LeddarTech undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Daniel Aitken, vicepresidente de Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.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 brands 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 symbol “LDTC.”
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