SaverOne 2014 Ltd (NASDAQ: $SVRE) is a publicly traded Israeli tech startup which develops advanced road safety solutions. The company’s proprietary technology for preventing driver distraction reduces driving accidents, making our roads safer for everyone.
The company’s first commercial product – an In-Cabin Driver Distraction Prevention Solution (DDPS) branded as the SaverOne system, identifies and locates mobile phones within the vehicle and restricts the use of distracting mobile applications exclusively to the phone only located in the driver’s seat.
SaverOne’s product portfolio caters to two primary automotive segments. In the after-market segment, it protects existing cars, trucks, and buses, while in the OEM segment, SaverOne’s Distracted Driving Protection technology will be integrated into the vehicle assembly line.
About the SaverOne System
SaverOne’s system is integrated into vehicles to address the pervasive issue of driver distraction arising from the use of distracting mobile applications while driving.
This behavior poses a significant threat to the safety of both drivers and passengers and is recognized as a leading cause of road accidents globally.
The annual economic toll of road accidents in the United States alone, as reported by the National Highway Traffic Safety Administration, reaches approximately $870 billion, excluding the costs associated with severe injuries or fatalities. It is estimated that a quarter of these accidents are linked to the use of mobile phones while driving.
SaverOne’s technology is designed to identify the driver’s area within the vehicle and proactively restrict access to distracting phone applications, such as messaging, without requiring user intervention or consent. Meanwhile, essential functions like navigation remain accessible.
This implementation aims to cultivate a safer driving environment, mitigating the risks associated with mobile phone usage and contributing to the reduction of road accidents.
SVRE: Restoring Focus Behind The Wheel In A World Full Of Distractions
If you operate a vehicle, chances are you’ve engaged in this behavior despite numerous public service announcements advising against it. Despite being aware of the risks, when a text message appears on your screen – say, “Hey, where are u?” – you dismiss the warnings, reach for your phone, and promptly reply with a “On my way” on your mobile device. It seems harmless, right? Everyone does it, and sending the text only takes a mere 5 seconds.
However, the real danger lies in the fact that vehicles move at high speeds, road and weather conditions change, drivers are unpredictable, pedestrians are present, and a multitude of other variables come into play.
According to the National Highway Traffic Safety Administration (NHTSA), a vehicle traveling at 55 mph will cover the length of a football field in those 5 seconds while your attention is diverted to sending that “On my way” text.
Despite considerable safety enhancements incorporated into vehicles in the U.S. over the last two decades, such as forward collision warnings, emergency braking, lane departure warnings, blind spot detection, backup cameras, etc., the grim reality is that nearly 43,000 people lost their lives in traffic accidents in the U.S. in 2022, marking a 30% increase from 2013.
Experts agree that there isn’t a single straightforward explanation for this paradox where vehicles are becoming safer, yet traffic fatalities are on the rise.
Some of the increase can be attributed to sheer numbers, as the U.S. population has grown by 5.4% over the past decade, and the number of registered vehicles has surged by over 16.8% during the same period.
However, a notable rise in what the NHTSA terms “dangerous driving behaviors” – such as speeding, impaired driving, and failure to wear a seatbelt – is also contributing to the upward trend in traffic fatalities.
Another primary factor contributing to the surge in traffic accidents and fatalities is the widespread adoption of smartphones. In 2013, slightly over half of all Americans owned a smartphone (56%), but this ownership rate had surged to 85% by 2022.
If we exclude the very young and the oldest generations to estimate the “driving population,” it becomes evident that nearly all drivers in the U.S. now possess a smartphone.
Financial Results:
In the first half of 2023, SaverOne 2014 Ltd reported a sharp +286% jump in year-over-year revenues; as 4,300 systems have been ordered by customers as of August 29, 2023. The number of installed systems grew to 3,000 as of August 29, 2023, which is up from 1,750 installed units as of March 31, 2023. The company also announced that it is successfully executing on its land-and-expand strategy by broadening initial penetrations locally to full fleets, as well as initial wins internationally including pilot projects in the United States, Europe and the Gulf region.
Notable Press Releases:
- SaverOne Announces First Strategic Pilot in Italy with Tecne Autostrade – November 20, 2023
- SaverOne Advances its Global Sales Strategy and Appoints European Distributor – October 30, 2023
- SaverOne Affirms that it has not Experienced any Disruption to its Business Operations in Israel – October 11, 2023
- SaverOne Expand its Cooperation with Cemex: Launches First European Pilot with Cemex in Spain – September 6, 2023
- SaverOne and IVECO Plan to Advance Collaboration Later This Year – June 28,2023
- SaverOne’s Largest Ever Order: Electra Afikim to Install the SaverOne System Across its Entire Bus Fleet of ∼1,200 Vehicles – March 8, 2023
Initial Public Offering & Financing:
A little over a year ago, in June 2022, the company closed on its initial public offering (IPO) of 2.94 million units at a price of $4.13 per unit raising roughly $13 million in gross proceeds.
In December 2022, the company completed a private placement of 0.8 million American Depositary Shares (ADSs) at $1.854 per ADS raising roughly $1.5 million in gross proceeds.
Technical Analysis
SaverOne 2014 Ltd is currently trading for 30-cents per share, representing a 93% discount from the IPO Price. The market cap of the company is incredibly small at the moment, being valued at only $2.28 Million. Considering the oversold circumstances, there may, literally, never be a better opportunity to pick up shares of NASDAQ: $SVRE at a lower price.
[Click The $SVRE Chart Above To View On Yahoo! Finance]
Final Thoughts
The National Highway Traffic Safety Administration (NHTSA) has recently outlined three crucial criteria for addressing the issue of distracted driving related to cell phones:
1. The solution must be able to differentiate between the driver’s area of the vehicle and the rest of the vehicle, allowing for passenger use of cell phones.
2. It should not rely on the driver’s cooperation.
3. It should provide selective blocking or permissions for cell phone applications.
SaverOne’s In-Cabin Driver Distraction Prevention Solution (DDPS) was developed with these criteria in mind. The system automatically activates when a phone, with the app installed, is in proximity to the driver, making it a significant selling point compared to other alternatives in the market.
The fact that SaverOne’s solution specifically targets cell phone signals around the driver’s seat, without affecting passenger cell phones, could be a noteworthy differentiator in the consumer vehicle market.
Our experts believe that we have discovered a rare opportunity in a Global Industry with NASDAQ: $SVRE.
Please take some time and check out the SaverOne Corporate Presentation that was released in September 2023.
The upside potential presented by $SVRE is massive, and traders should be ready to capitalize on what could turn into an extremely profitable rebound in the stock’s price.
That being said, we ask that you continue your research, and add $SVRE to the top of your watchlist for the week to come.
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