Propheseea Paris, France-based inventor of advanced neuromorphic vision systems, completed a €50m Series C round of funding.
Prosperity7 ventures and initial Series C investors Sinovation Ventures and Xiaomi joined a group of international investors from North America, Europe and Japan that includes Intel Capital, Robert Bosch Venture Capital, 360 Capital, iBionext, and the European Investment Bank.
The company, which has raised a total of $127M since its founding in 2014, intends to use the funds to accelerate the development and commercialization of its hardware and software products, as well as to address new and emerging market opportunities and further scale across key ecosystems in semiconductors, industrial, robotics, IoT and mobile devices.
Led by Luca Verre, co-founder and CEO, Prophesee is the inventor of advanced neuromorphic vision systems which leverage patented Metavision® sensors and algorithms mimic how the human eye and brain work to improve efficiency in areas such as autonomous vehicles, industrial automation, IoT , security and surveillance, and AR/VR.
The company has gained market traction with key partners around the world who are incorporating its technology into sophisticated vision systems for use cases in smartphones, AR/VR headsets, factory automation and maintenance, science and health research. Its partnership with Sony has resulted in a next generation HD vision sensor that combines Sony’s CMOS image sensor technology with Prophesee’s unique event-based Metavision® sensing technology. It has established commercial partnership with leading machine vision suppliers such as Lucid, Framos, Imago and Century Arks, and its open-source model for accessing its software and development tools has enabled a community of 5,000+ developers using the technology in new and innovative ways .
Prophesee, which is based in Paris, with local offices in Grenoble, Shanghai, Tokyo and Silicon Valley, holds more than 50 international patents.