SenSen Networks Ltd (ASX:SNS) founder, executive chairman and CEO Subhash Challa has increased his shareholding by purchasing 90,186 shares.
Challa increased his stake through his holding in Challa Superannuation Fund.
Growing revenue
SenSen and its systems integrator partner ATT Systems Group were recently awarded a Singapore Government contract aimed at deterring illegal curbside parking and preventing traffic congestion.
The partners were successful in their tender for the Operation and Maintenance of Closed-Circuit Television (CCTV) Enforcement Camera System.
SenSen’s AI and video analytics software was selected as the crucial software base of the system which will be implemented at various locations designated as Enforcement Zones where offending vehicles are captured on camera.
The company will earn S$1.15 million (~A$1.24 million) as Software as a Service revenue (SaaS) over the five-year term of the contract, with an upfront payment of S$150,000 (~A$160,000) expected this month.
