- Establishes New Business Unit Led by Industry Veterans
- Sets a New Paradigm for Automotive Sensing Solutions
- Augments indie’s Product Offerings and Creates New Opportunities with Tier 1 Customers
ALISO VIEJO, Calif.–(BUSINESS WIRE)–$INDI #indiesemi–indie Semiconductor, Inc. (Nasdaq: INDI), an Autotech solutions innovator, has created a dedicated business unit focused exclusively on high quality perception-enabled, vision processing solutions to address the majority of usage cases for advanced driver-assistance systems (ADAS)-enabled vehicles. Ramesh Singh, an industry veteran, is leading indie’s new VisionQ business unit, which is supported by an exceptional team that together has already successfully brought millions of silicon, software and system solutions to the vision processing market over the last two decades. The group’s combined development capabilities, expertise in building large scale vision businesses and vast relationships worldwide position indie to deliver best-in-class sensing platforms for ADAS applications.
“Adding Ramesh and his team to the indie family represents a major step toward realizing our vision of becoming the leading semiconductor and software level solutions provider for multiple sensor modalities,” said Donald McClymont, co-founder and CEO of indie Semiconductor. “We plan to leverage their capabilities to create revolutionary devices with the lowest cost, power and form factor – redefining perception vision processing.”
“Joining indie allows our team to accelerate the adoption of an open software perception stack and create scalable designs that are power and performance optimized,” said Ramesh Singh, executive vice president and general manager of indie’s VisionQ business unit. “We are excited to bring our wealth of industry experience, deep understanding of the entire imaging ecosystem, strategic image sensoring partnerships and industrialization expertise under indie’s umbrella to deliver fully functional, differentiated solutions for our automotive customers.”
Enabling complex camera solutions with artificial intelligence (AI) functions are rapidly being adopted by major Tier 1s and OEMs as a way of bringing intelligence to solve difficult sensing problems. As the requirements for these compute functions increase, the integration within the power profile and the form-factor becomes even more challenging. Integrating the AI algorithms and sensing functions into the numerous automotive cameras requires intelligent edge-compute vision processing in practically every product to solve the varying levels of computational processing. indie believes ADAS solutions that integrate the perception stack (by fusing advanced sensing algorithms across vision, radar and LiDAR) will drive adoption of safety features being mandated globally.
According to Yole Development market research, the automotive camera market alone is expected to reach $7.7 billion by 2022, up from $2.2 billion in 2016, a compounded annual growth rate of approximately 24 percent, while the overall sensing market (camera, radar, LiDAR and ultrasound) is expected to reach $19 billion, up from $8 billion during the same time period.
About indie
indie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms. We focus on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms we rely on every day. We are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs around the world. Headquartered in Aliso Viejo, CA, indie has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; San Francisco and San Jose, CA; Budapest, Hungary; Dresden, Germany; Edinburgh, Scotland; Haifa, Israel and several locations throughout China.
Please visit us at www.indiesemi.com to learn more.
Safe Harbor Statement
This communication contains “forward-looking statements” (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements include, but are not limited to, statements regarding the potential of our new business unit, our future business and financial performance and prospects, and other statements identified by words such as “will likely result,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “plan,” “project,” “outlook,” “should,” “could,” “may” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results included in such forward-looking statements. In addition to the factors previously disclosed in our registration statement on Form S-1 (SEC File No. 333-257629) and in our other public reports we file with the SEC (including those identified under “Risk Factors” therein), the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: the impact of the COVID-19 pandemic; our reliance on contract manufacturing and outsourced supply chain and the availability of semiconductors and manufacturing capacity; competitive products and pricing pressures; our ability to win competitive bid selection processes and achieve additional design wins; the impact of any acquisitions we may make; our ability to develop, market and gain acceptance for new and enhanced products and expand into new technologies and markets; trade restrictions and trade tensions; and political and economic instability in our target markets. indie cautions that the foregoing list of factors is not exclusive.
All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements made in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law.
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