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Cipia Vision Ltd.
Investor Presentation • Mar 31, 2024
6727_rns_2024-03-31_59ef1c11-385f-496b-894b-0d7f5add5b63.pdf
Investor Presentation
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() cipia COMPUTER VISION AI FOR IN-CABIN SENSING
Company presentation | March 31, 2024
Cipia Vision Ltd
DISCIA MER
- · This presentation vas prepared by Cipia (the "Company") ss a general presentation is not intended as a substitute for inspection of the Company's formal reports as required any including, anonomis annual report for the year 2023, as published on March 31, 2023, and the Company's seriod ended June 30, 2023, and any subsequent immediate reports (the "Company Reports"). To the exent that there are any contradictions between this presentation the Company to any law, the Company Reports shall prevail.
- · The information included in the presentation of the nor dees if form a recommendation or opinion about any investment and does not constitute an offering or an invitation to purchase securities of the substitute the need for independent review and personal advice in accordance with the specific circumstances of each investor.
- · This presentation does not constitute or entre or invitation to purchase securities of the Company and does not constitute or embody part of the invitation to receive such offers, and, in particular an 'offer to the public' or "sale to the public" of any kind. Sich an offer shall be made only in accordance with the provisions of the law, after obtaining the necessary permits from the Israeli Securities Authority and the Tel-Aviv Stock Exchange.
- · This presentation may include Forward on the Securities Law, 572-968, incuding forecasts, estinates, assessments and the information pertaining to future events. In certain cromstition information where use of certain words or phrases is made, including 'expected', "believe", "may" "appreciate that (something may haped", "intend" "continue" "can" "may" "plan", or other similar phrastin in this presentation is based on subjective assessment as of the date of the date of this presentation, which athough the Company believes to be reasonable, are inheently uncertain. Forward-Looking including factors beyond the Company's control, each of which, or a combination of which, as well as the realization of any of the Company's operations, may materially impair the Company's results and cause actual results to differ materially from the Forvard Looking Information is soley amed at the date to which it reates Except for the obligation to discose information as required by applicable securities ave, the meetake to update or change any information contained in this presentation, whether as a result of new information, future events or other reasons. It is also and strategy included in this presentation are accurate as of the date of the presentation and may change in accordance with resolutions of the Company, as may be resolved from time to time.
- · Other than trademarks that are owned by the Company nas the right to use, the trademarks incuded in this presentation are the property of their owners and are used in this presentation for the context only. The use of such trademals may not be construed as approval or verification in reation in reation in reation in reation Company's software, services, or securities.
- For the avoidance of doubt, the Company does not undertake to update the information contained in this presentation.
- · This presentation includes only partial information in the chare with its shareholders and the coneral public investing in the Company's secuties. It i possible that the mamer in which in the presentation is presented is different from the manner in which this information is included in publications in the Company's reports. This presentation in the topics described in it, in the context in which they are discussed, and not the full information available to the Company in relation to these topics This presults and financial intrimation of the company and the explancions of them, and Company's business plans or the company's activities and br risk factors that apply to the Company and is not intented to review Company Reports.
CIPIA: FOCUS ON DRIVER AND CABIN MONITORING
Click to watch video
LEADING IN-CABIN SENSING PROVIDER
* is clarified that the Forecasted Life Cycle Value (LC) From Signed Agreements is based on the Company from the manufacturer and Company assumptions. However, the Company estimates that the level of certainty of the Forecasted LCV from Signed Arreral (cameras) is lower than that from the sale of software, due to the availability of alternative hardware in the agreements do not require minimum quantity. Cipia Vision Ltd
THE PROBLEM BEHIND THE STEERING WHEEL
1,350,000
Die in road accidents annually
World Health Organization
Distraction in the 3 seconds prior to the collision
National Highway Traffic Safety Administration
2196
Fatal collusions are caused by drowsiness
American Automobile Association
camera based) driver monitoring (DMS)
are required in new vehicles
prevent automation complacency and misuse
with driver monitoring
2023 - 2026
2024 - 2026
2023
2022
"Regulation and safety standards do not require driver monitoring to be performed using video analysis (i.e., camera), with the exclusion of China.
INCREASING DEMAND AMONG OEMS FOR DRIVER MONITORING
Source: https://www.alliedmarketresearch.com/driver-monitoring-systems-market
CIPIA'S IN-CABIN SENSING SOLUTIONS
Device & Cloud Services for Fleets Software for Automotive Manufacturers 8 4 CABIN SENSE CIPIA FS10 DRIVER SENSE
accompanied by a camera) for automotive OEMs
Safety
Driver monitoring software (may be Cabin monitoring software (under development) for automotive OEMs for driver and cabin-wide occupancy monitoring
Safety & convenience
Driver monitoring device and cloud service for telematics service providers and fleets
Safety & fleet optimization
ADVANCED COMPUTER VISION AI TECHNOLOGY
2 门 中国营 9 Awake Seatbelt Phone Smoking Camera Attentive
FPS : 30 Person ID : Tal AOI : 5 Eye Mode : SACCADE Real Driver : YES
10
THE NEED FOR DMS RISES WITH THE AUTONOMY LEVEL
Cipia's Driver Sense addresses DMS regulatory requirements and safety standards at levels 0 - 3
CIPIA-FS10 DEVICE - SMART FLEET MANAGEMENT
Targeting telematics service providers
DRIVER ALERTS
- · Safety alerts (distraction, drowsiness, seatbelt, phone)
- · Compliance (smoking, seatbelt, phone)
- Dispute resolution
SMARTER FLEET MANAGEMENT
- Real time alerts
- " Driver ID
- Workforce management
- Compliance
- Driver scoring
- Accident investigation
- Tamper detection
AUTONOMY IS A GROWTH ENGINE
Source: Automotive Data Monetisation Pricing and Business Models, Frost & Sullivan, October 2017
TOP 4 PLAYERS IN THE DMS MARKET
| OEMs | Models | Positioning | Market cap | ||
|---|---|---|---|---|---|
| cipia | ல 61 |
Lean hardware & strategic partnerships |
TASE: CPIA ~\$21M |
||
| smart eye | 21 | 320 | # of OEMs | Nasdaq Nordic: SEYE "\$280 |
|
| seeingmachines | 11 | # of miles +160 accumulated through TSP business |
AIM: SEE "\$272 |
||
| tahii | 7 | +100 | Eye tracking technology |
STO: TOBIL ~ \$64M |
Customer data source: Smart Eye source (March 13, 2024) and Seeing Machines source (December 13, 2023). Market cap source: respective stock exchange data as published on Google Finance of March 26, 2024
BUSINESS MODEL
*Based on safety standards and regulation, the market is adopting DMS at a faster pace (previously reported as 1 - 3 years), **Price reflects ADAS ready units and cellular connectivity units.
***Assuming 50% of vehicles will make use of Cipia's cloud.
DRIVER SENSE: CONTINUOUS GROWTH
(16
5 OEMs already in serial production
2023 ACHIEVEMENTS
Financials compared to FY 2022
in gross profit compared to 2022
in gross margin compared to 2022
Units compared to end of 2022
in vehicle manufacturers (OEMs) choosing company products
in awarded vehicle models
FINANCIAL REPORTS
| Profit & Loss (thousands of USD) | 2023 | 2022 | 2021 | 2020 | ||
|---|---|---|---|---|---|---|
| Total Revenues | 5 351 | 5,329 | 4,779 | 1,7451 | ||
| Gross Profit | 2,688 | 1,167 | 1,893 | 641 | ||
| Gross margin | 50% | 22% | 40% | 37% | ||
| R&D expenses | 5,848 | 5,292 | 5,002 | 3,801 | ||
| S&M expenses | 2,908 | 4,412 | 3,478 | 2,426 | ||
| G&A expenses | 2,670 | 3,112 | 2,725 | 1,012 | ||
| Total Operating expenses | 11,426 | 12,816 | 11,205 | 7,239 | ||
| Financial expenses (income) | 372 | 1,256 | (9,399) | *9,516 | ||
| Profit (loss) before taxes | (9,110) | (12,905) | 87 | (16,114) | ||
| Balance Sheets | ||||||
| Cash and equivalents | 5,854 | 16,155 | 19,767 | 3,858 | ||
| Inventory | 1,294 | 1,839 | 1,755 | |||
| Loans from Bank | 487 | 1,220 | 1,965 | 633 | ||
| Derivative Financial Instruments | 19,670 | |||||
| Preferred equity (Liability) | - | 51,371 | ||||
| * Dacad mainly on financial increamante and convorting tham to oalify in 7071 |
Based mainly on financial instruments and converting them to equity in 2021
\$100M RAISED IN TOTAL
| Years | Round | Main investors | Amount |
|---|---|---|---|
| 2023 | PIPE | Private investors | \$2.3M |
| 2022 | PIPE | Institutional & private investors (existing & new) |
\$11.7M |
| 2021 | IPO (Inc. Pre-IPO) | Institutional investors | \$26M |
| 2020 | Convertible Loan | Jebsen Group, Grupo Antolin | \$8.5M |
| 2016-2018 | Series D | Jebsen Group, Arie Capital, Smart Gesture, private investors |
\$30M |
| 2014-2015 | Series C | Mitsui & others | \$12M |
| 2011-2013 | Series B | Mitsui & others | \$7M |
| 2007-2010 | Series A | Private investors | \$3M |
MANAGEMENT
| Yehuda Holtzman CEO |
35+ years experience of executive management & entrepreneurship in the tech industry |
mobilogy mobileaccess. |
|---|---|---|
| Tal Krzypow VP Product & Strategy |
15+ years experience of global scale software products |
Microsoft |
| Shelly Mesilati CFO |
15+ years experience of financial management including capital raising for tech companies |
X overs |
| Erez Steinberg CTO |
20+ years experience of development activities including hardware and software |
freescale |
| Guy Tsafrir VP R&D |
25+ years experience of software development and management |
Cognata SAMSUNG 38 GEHealthCare |
| David Markus VP Telemetry & Fleets |
20+ years experience of executive management in the automotive industry |
|
| Liat Rostock VP Marketing |
One of Cipia's earliest employees with 10+ years of marketing experience |
) Cipio |
BOARD OF DIRECTORS
Bringing automotive, Al technology and financial experience to support the company's growth
| Prof. Eli almor |
Gal Shmueli | Dr. Thomas Wetzer |
Erez Lorber | Orit Lerer | Henry Weinstein |
Prof. Eli Amir |
|---|---|---|---|---|---|---|
| 25+ years in Private Equity and Venture Capital |
Colonel and technology leader in elite intelligence military units |
10+ years experience 30+ years of in growth capital investments including executive Asia |
technology management |
40+ years of executive management in Bank Hapoalim |
10+ years of technology and health venture capital |
30+ years in financial accounting |
| Senior Professor at London Business School |
Founder of several startups with \$1.6B exits |
GM of Jebsen Capital Chairperson of | Orient and Isralaser | Rich financial and managerial experience in global corporations |
Led over 20 venture capital deals and served as board member |
Senior Professor at Coller School of Management and Accounting Chair |
and visiting prof. at London Business
School
in health and
technology
companies
JOIN THE GROWTH
* The contracts do not require minimum quantity. Please see slide 5 for additional information regarding schedule and assumptions.
www.cipia.com
