Prophesee, the machine vision startup formerly known as Chronocam, has raised $19 million in initial funding for its Series B round led by an unnamed investor from the electronics industry with participation from 360 Capital Partners, Supernova Invest, iBionext, Intel Capital, Renault Group, and Robert Bosch Venture Capital.
The Paris-based startup’s machine vision technology, which mimics the human eye and brain and processes up to 100,000 frames per second, allows cameras and sensors to pick up on details in fast moving or challenging environments. It is being applied in use cases like robotics, autonomous vehicles, and IoT.
“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 prototyping exercises,” said CEO Luca Verre.
The new round of funding will be used to accelerate its development and going to market.
“Having the backing of our original investors, plus a world leader in electronics and consumer devices, further strengthens our strategy and will help Prophesee win the many market opportunities we are seeing,” he said.
The company intends to raise further funding for this Series B round.