Emerging NASDAQ Company Aims to Eliminate Distracted Driving due to cell phone usage from the Roads with a Revolutionary Device.
A Game Changing Solution is Being Offered to the $870B Road Accident Problem in the U.S. and it Could Soon Catapult SaverOne Ltd. (NASDAQ: SVRE) into Wall Street’s Spotlight.
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Distraction from cell phone use is not a matter of fate!
SVRE’s unique Distracted Driving Protection System (DDPS) is installed in vehicles to provide a solution to the problem of driver distraction that endangers their safety and the safety of their passengers.
“Preventable accidents continue to claim lives and cause injuries. Our DDPS ensures that drivers remain focused on driving safely and undistracted, mitigating a significant risk."
CEO Ori Gilboa
A big problem…
The CDC tells us that over 3,000 people will die from distracted driving in 2023. These are deaths that could be avoided!
Just imagine this: You are driving 55 miles per hour, and you take your eyes off the road for just 5 seconds to look at your phone. That 5 seconds is traveling the entire length of a football field all while being distracted.
Cellular distraction is the leading cause of road accidents. Distracted driving is now a global traffic safety issue that doesn’t nearly get enough discussion.
In the U.S. alone, 1.6 million traffic accidents and 4,600 fatalities are directly caused by cell phone distraction every single year.
In almost every U.S. state, using your cell phone while driving is not only dangerous but also illegal. This unfortunately does not stop many people from doing it.
With busy lifestyles and cell phones offering all kinds of apps and tools, it’s no surprise that many people are on their phones while driving.
The good news is that there is a solution…
Israel-based SVRE is a growing NASDAQ company that has a line of products and solutions aimed at saving lives by preventing car accidents due to distracted driving.
While most existing safety measures focus on reducing damage, warning of the risk of an accident, or correcting driver errors, SaverOne controls/preempts the distraction.
With customers and strategic partners, companies like Iveco, one of the largest Truck manufacturers and Cemex Group (NYSE: CX) a global leader in the building materials , SVRE is rapidly inking deals and bringing their products to the roads.
New and growing orders demonstrate that customers and potential customers are increasingly recognizing the value of the company’s solutions, both in Israel and internationally.
The TOP 10 Reasons to have SVRE on Your Radar:
- The company is underfollowed. There is tremendous potential for market cap growth ahead while building shareholder value.
- Talented leaders are at the reign. Management has 100+ years of combined experience and a deep knowledge of automotive safety and insurance. CEO Ori Gilboa has over 25 years of experience in the automotive and retail industry and prior to SaverOne, he served as CEO for James Richardson and the Negev Group, as well as General Manager of the auto division for Mayer’s cars and trucks.
- The company's technology is visionary and disruptive. Technology offers a fast, accurate, and robust identification of the driver's location. It also has deep AI domain use.
- A strong market validation. The company has demonstrated successful programs with top-tier global companies and has a case study with major OEMs to be replicated globally.
- Diversity of customer base. Customers include commercial fleets, privates, governmental organizations, as well as a diversity of automobile types (trucks, buses, private cars, etc.)
- Already recognized and growing. 4000+ devices ordered, 100+ active customers in Israel, 3000+ device installations, pilots in USA, Europe and
- Recurring value. The company has an optimal SaaS product with a massive TAM. Growth engine for vehicle manufacturers to drive recurring value.
- Recent milestones are leading to accelerated growth. Second-generation technology and a global after-market product launch are fortifying an anticipated global expansion. Israel has functioned as a Mega Pilot Program, showing the company’s global potential and multiple active customers are international companies who can be targeted for future global expansion.
- A humanitarian signature. The company's technology has the potential to create a global, history mark on humanity. Increased government regulations, as well as the difficulty in enforcing laws, have led to a growing need for the company’s solution.
- Rising financial and social costs. The average settlement cost for a fatal accident involving a commercial fleet driver is $11M. The total cost of traffic accidents in the U.S. is $850B+. And distracted driving costs employers over $60B.
What is the Company doing?
Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.
The company’s innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.
SaverOne has developed proprietary technology to create an innovative two-tier solution:
Stop the driver’s
cell phone distractions.
Protect pedestrians
(VRU’s).
The company offers a complete solution to stop drivers from texting while driving.
- It automatically identifies which phone belongs to the driver and distinguishes dangerous applications, like texting and social media, from non-dangerous ones, like navigation.
- It keeps the driver’s phone blocked while the vehicle is in motion.
- It conveniently enables fleet managers to decide which apps are permitted versus prohibited.
One system… many advantages.
Fully supported in Android and iOS phones, SVRE’s system supports up to 5 phones in the vehicle and up to 3 connected to the system. There is an alarm when the system finds an unconnected phone located in the driver’s area.
The system blocks the driver’s incoming messages while driving with an automatic text response.
Over the air software updates are seamless.
A broad answer to business needs…
Any company or organization that is interested in protecting its employees from cell phone distractions and owns:
- Private vehicles
- Commercial vehicles: small, medium or heavy-duty trucks
- Public transportation fleets
- Leasing companies
- Offering safer vehicles to customers
Insurance companies
Offering premium incentive through safer driving with SaverOne protection.
Vehicle manufacturers
Integrating SaverOne’s Distracted Driving Protection technology is in development.
Major Milestones
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To fuel their growth initiatives, Volcon successfully closed a $700,000 underwritten public offering. This financial milestone provided essential funds for their strategic plans and expansion efforts.
Protecting pedestrians…
SVRE is also developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.
THE CHALLENGE: VRU SAFETY
Vulnerable-Road-Users (VRUs): pedestrians and cyclists are ‘glued’ to their smartphones. VRUs are estimated to be 70% of the death cases in urban accidents, and almost 40% of them are pedestrians.
Safety risks of pedestrian crossing points with reduced visibility are high.
The challenge increases due to adverse weather conditions & Non-Line-of Sight (NLoS) – where performance of Radar, Lidar and Camera is degraded. These things provide vehicle situational awareness.
SVRE’s technology enhances the performance of the sensor team (Camera, Lidar and Radar) through its superior abilities to deal with the NLoS, adverse weather conditions and low visibility in a way that no other sensor can.
- It is the only sensor that detects if the VRU is distracted by his smartphone.
- It alerts the driver / ADAS in real-time about the estimated time-to-collision.
- It does not need an application on the VRU’s smartphone for the detection.
The technology currently OVERCOMES current sensor’ limitations as seen below:
In summary…
SaverOne Ltd. (NASDAQ: SVRE) is offering a winning solution to a growing problem.
There are many ways that one can become distracted while driving. A driver’s mind may wander to the problems they have to face that day. They may reach for something in the passenger’s seat or look at something on the side of the road. Perhaps worst of all, they may try to read or send a text message, which causes them to take their thoughts, eyes, and hands away from the task of driving.
Mikusova, Miroslava, Joanna Wachnicka, and Joanna Zukowska. "Research on the Use of Mobile Devices and Headphones on Pedestrian Crossings—Pilot Case Study from Slovakia." Safety 7.1 (2021): 17
The distracted driving phenomenon is considered one of the main causes of road accidents in the world.
According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870B each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving.
SVRE’s technology is game-changing, as it specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation), without user intervention or consent, creating a safer driving environment.
There is clear potential ahead for this quietly trading NASDAQ company and long-term growth looks optimistic!
SVRE has set out to solve a global problem and over the coming months is anticipated to effectively demonstrate the full capabilities of its technology as it aims for global expansion. Now is a pivotal time to have the company on your radar!
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