Prophesee SA, formerly known as Chronocam, has raised $28 million (approx €25 million) in funding, bringing its total funding to date to $68 million (approx €61 million).
This funding round was led by European Investment Bank, along with existing investors, including as iBionext, 360 Capital Partners, Robert Bosch Venture Capital, and Supernova Invest as well as undisclosed investors.
Luca Verre, co-founder, and CEO of Prophesee said:
Our event-based approach to vision sensing and processing has resonated well with our customers in the automotive, industrial, and IoT sectors, and the technology continues to achieve impressive results in benchmarking and initial industrialization engagements. This latest round of financing will help us move rapidly from these successes to broader market adoption. Our agreement with the EIB gives us a flexible and practical way to access capital we need and having the backing of our original investors further strengthens our ability to take advantage of the market opportunities we see in critical sectors.
Developing Metavision sensor!
Based out of Paris, the company intends to use the funding to develop and commercialise the Metavision sensor and its neuromorphic algorithm innovations that provide high performance and predictive maintenance applications in industry 4.0.
Machine vision sensors inspired by biological eyes!
Founded in 2014, the company developed a breakthrough “Event-Based” approach to machine vision that allows for significant latency, reductions of power, and data processing requirements imposed by traditional frame-based systems.
Mimic’s human eye and brain!
Prophesee’s patented neuromorphic-based sensors and algorithms mimic how the human eye and brain work to improve efficiency in areas – industrial automation, autonomous vehicles, IoT, security and surveillance, and AR/VR.
Achieve much higher dynamic ranges!
Talking about the Metavision sensors, every single pixel is independent, asynchronous, and only activates itself if it senses a change in the scene, a movement.
Notably, it enables sensors to achieve much higher dynamic ranges (>120dB). It allows cost-efficient sensors and systems to record events that would otherwise require conventional cameras to run at 10,000 images/second and more.
Bernard Gilly of iBionext, Chairman, said:
Prophesee continues to execute on its strategy to deliver truly disruptive and game-changing innovation to the world of machine vision. Rooted in several years of development and strengthened with key commercial partners, the company is now poised to achieve much wider industrial penetration. Together with the existing investors, the strong support of the EIB gives the company the resources needed for its growth and makes us even more confident in its success.
Main image credit: Prophesee
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