Our recent name change to Foresense Technologies has been extremely well received by all markets and investors. We are extremely confident the required $2M capital raising at $0.16 will be fulfilled as we head towards an IPO on the ASX. Our crowd funding program has also been beneficial and allowed us to reach Australian investors and increase awareness to our disruptive technology.
You will have noticed we have stepped up our blogging campaigns which also have proved to be most successful. Last week in Sydney Foresense signed a major commercial agreement with Cued. This agreement will see first stage revenues of $300,000 within the next few months. We expect continued revenues as we develop this groundbreaking technology for Cued who will become the leader in Digital Cue Sports globally.
Over the past few days, Foresense has completed the first stage of an internal sensor implementation at a major Sydney Shopping Centre for oOH Media which incorporates a unique groundbreaking presence detection and data analytics platform. Foresense will now focus on other location asset implementations as we work together with oOH Media.
We have attracted interest with the commercial and domestic security markets both here in Australia and the USA. Foresense has several presentations underway with significant security companies as well as major retailers across Australia.
When it comes to Big Data AI for human behaviour, attitudes and intentions, we are often driven by subconscious impulses not measurable by random digital clicks and success has been lagging within this area. Through Foresense Behavourial Analytics, AI and Presence Dectection, we can reveal in depth insights on consumer behaviour for retailers.
At Foresense we value that human beings are more than a click and we go beyond traditional surveillance techniques to enhance and close the gap between digital data and consumer behaviour reality in retail and B2B. Consider the complex algorithms which are able to customise an individuals Netflix or Spotify homepage. The other day I caught an uber to a meeting in North Sydney in a new Tesla where the car drove me whilst the driver chatted and showed me the cool features. Soon enough, our whole world will be “smart,” full of AI-powered marvels like streets equipped with intelligent traffic lights that can adjust and optimise routes based on traffic patterns.
Talking of retail, Foresense is working through the finalisation of unique video sensors for 3000 newsagents with groundbreaking technology features including fine casting.
Another area where optimal real time performance is challenging to achieve is logistics. A global supply network is enormously complex – multinational companies, service providers, and suppliers all need to communicate and work together to produce, ship, and distribute products and parts all around the world. In many instances the records kept are not computerised, which may lead to an ineffective system.
Foresense AI can help solve these problems and we are currently working on a real time stock control alternative that could very well disrupt this major stock transport industry.
The below coathanger represents the exciting market opportunities for Foresense.
We look forward to regular communication with you on this exciting journey.