Forcite’s smart helmet - launched last year - is now being mass-produced, having been the only smart helmet to pass ECE 22.05 safety accreditation pre-testing.
Atlas Advisors Australia and Uniseed participated in a post-sales funding round of $1.2 million to finalise production lines for a roll out of the product in Australia.
Forcite has now announced it will be opening a Series A investment round later this year to scale up in European and United States markets - as well as conducting further research and development into in-bike computer vision and LiDAR systems that link with the helmet.
Executive Chairman of Atlas Advisors Australia Guy Hedley said it was a unique opportunity for investors in a $35 billion marketplace.
“Foreign investors via the Business Innovation and Investment Program are playing a critical role in supporting the Australian economy, pouring money into venture capital and seed stage companies,” Hedley said.
“This is helping Australian grown companies to drive innovation and create intellectual property for new market-leading products.”
Chief Executive Officer of Uniseed, Dr Peter Devine said investing in start-ups like Forcite was positioning Australia at the forefront of disruptive technological developments including in industries like motoring.
“We are building the next generation of local companies that will go onto to become regional and global market leaders generating more employment and value opportunities for our nation,” Dr Devine said.
Forcite Chief Executive Officer Alfred Boyadgis said Forcite will deliver to market the “world’s first” smart helmet for motorcyclists.
“Our smart helmets have a unique system that can give advanced alerts much like K.I.T.T. from Knight Rider as well as communications and camera systems integrated into one complete unit,” Boyadgis said.
“We are now developing on building human-machine interfaces with top motorcycle manufacturers which we plan to exhibit at EICMA 2020."
Forcite’s smart helmet is designed to deliver road alerts and visual and audio turn-by-turn navigation without a phone, enabling riders to see or predict things before they happen to avoid danger, and also automatically records dashcam footage of multiple lanes without distracting the rider.