Seeing Machines jumps 25pc

 
Steve Dinneen
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UK tech firm Seeing Machines saw its shares rocket 25 per cent yesterday after Toshiba said it would use its facial recognition technology in its new 3D laptop.

Japanese tech giant Toshiba is leading the way in glasses-free 3D laptops, which track users’ eyes to calibrate its display.

Seeing Machines will receive a royalty for every laptop sold with its FaceAPI technology as part of the deal.

The market hopes this major contract win could be the first in a string of lucrative deals in the pipeline for Seeing Machines.

The company, which has a market cap of £10.2m, also uses its eye and facial feature tracking systems for the consumer electronics, scientific and driver safety markets.

Seeing Machines chief executive Ken Kroeger said: “We believe this launch is the first of many and will provide strong impetus for growth of the FaceAPI business particularly in the consumer electronics market.

“FaceAPI is uniquely able to provide face tracking with the required accuracy and reliability, using a standard camera, and without being overly demanding of the computer’s processor. This is only the beginning of a new era in Glasses-free 3D.”