Micronet secures order for 5,000 units of its SmartCam product

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Micronet Ltd. said Feb. 1 it has secured a purchase order of 5,000 SmartCam units, valued at approximately $1.5 million, from an undisclosed telematics service provider based in North America.

This deal is MICT’s largest order of its SmartCam product since launch in August 2020 and is expected to lead to significant volumes of additional orders in the coming months, according to Micronet parent MICT Inc., based in Montvale.

The order follows a pilot trial and an initial 1,000-unit order for Micronet’s SmartCam product, which integrates advanced software and artificial intelligence functionality to serve one of the fastest-growing segments of the global telematics market.

“This first and substantial follow-on order, so soon after the launch and pilot of the innovative SmartCam product, underlines its compelling attributes and the significant potential scope of market demand. Today’s important milestone also justifies the investment we have made in Micronet to date,” stated Darren Mercer, CEO of MICT in a prepared statement.

SmartCam is an all-in-one video telematics device with the ability to integrate and analyze a wide range of data received from multiple sensors. An open and powerful Android platform, ruggedized, integrated, and ready-to-go smart camera supporting complete telematics features designed for in-vehicle use. SmartCam integrates driver-facing cameras, road facing cameras, vehicle mechanical and operating data, vehicle location, and a powerful telematics on-board computer, enabling local processing of AI and image processing algorithms.