![]() 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.įor more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit follow on Twitter, or join Foresight Automotive on LinkedIn. and Eye-Net Mobile Ltd., Foresight develops both "in-line-of-sight" vision systems and "beyond-line-of-sight" accident-prevention solutions.įoresight'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. Through the Company's wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Accordingly, the Company has regained compliance with Nasdaq's minimum bid price rule.įoresight Autonomous Holdings Ltd. From April 21, 2023, through May 4, 2023, the closing bid price of the Company's ADSs has been at $1.00 per ADS or greater. To regain compliance with the bid price, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), an innovator in automotive vision systems, today announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq") informing Foresight that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), for continued listing on The Nasdaq Stock Market, and the matter of previous non-compliance is now closed.įoresight was previously notified by Nasdaq on May 23, 2022, that it was not in compliance with the minimum bid price rule because its American Depositary Shares ("ADSs") failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. Their initial vision was both elegant and powerful, and the demonstrated impact of their solution on safety performance, even in early interactions with the product, was impossible to ignore.Foresight Autonomous Holdings Ltd. ![]() We leverage purpose-built technology to drive behavioral shifts and provide an irresistible alternative to traditional workers compensation coverage.”ĭarren Bechtel, the founder and managing director at Brick & Mortar Ventures, commented: “We first invested in 2016 and have known the founders since 2015 when it was just the two of them, squatting at a couple of empty desks inside another portfolio company’s office. The company says this segment has been largely overlooked by well-funded insurtech startups such as Next Insurance and Pie, which provide small business policies under $50,000 in annual premiums.įoresight and Safesite were developed by longtime friends and co-founders David Fontain, Peter Grant and Leigh Appel.įontain said: “Foresight strengthens the correlation between safety and savings while providing the fast and easy user experience insurtechs are known for. Of the $57 billion national workers’ compensation market, Foresight focuses on policies ranging from $150,000 to $1 million+ in annual premiums. By wrapping Safesite risk management technology and services into every policy, Foresight provides a path to lower incident rates and lower premiums for customers. By leveraging the data from sister company Safesite, the platform says it has been able to reduce workers’ comp incidents by up to 57% in a study conducted by actuarial consulting firm Perr & Knight.įoresight’s algorithm leverages Safesite data to predict incidents, highlight risks and inform underwriting. The company says it is now on pace to reach $50 million in underwritten premium in 2021. To date, it has raised $20.5 million from industrial technology venture capital firms, led by Brick and Mortar Ventures and Builders VC.įoresight launched in August of this year but has already covered $30 million in risks. These foresight methods are part of a larger whole a company-wide program that enables any organization to become future-proof. The startup has now released, for the first time, news that it raised a $15 million funding round back in May this year, with participation from Blackhorn Ventures and Transverse Insurance Group. ![]() The data from that gave birth to a new insurtech startup this year, Foresight, which covers workers’ compensation. ![]() When an accident on a building site resulted in the death of their friend, the founders of Safesite were inspired to launch the platform to digitize safety programs for construction. ![]()
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