Machine vision startup Chronocam raises $15 million from Intel Capital and others

Paris-based Chronocam has raised $15 million in a series B round led by Intel Capital to further develop and commercialise its machine vision sensors and expand into the US and Asia.

The round was announced today at Intel Capital Global Summit. iBionext, Robert Bosch Venture Capital, 360 Capital, CEA Investissement, and Renault Group also participated in the round.

Chronocam says its computer vision technology, “which mimics the human brain”, gathers data to improve the performance, range, and power efficiency of cameras in various use cases. It describes its tech as biologically-inspired.

Sensing systems need to be faster to meet the demand of new technologies, commented Chronocam CEO Luca Verre.

“For example, autonomous vehicles require faster sensing systems which can operate in a wider variety of ambient conditions,” he said. “In the IoT segment, power budgets, bandwidth requirements and integration within sensor networks make today’s vision technologies impractical and ineffective.”

“The world is becoming increasingly connected and intelligent. And computer vision is a key enabler of this trend, particularly for the automotive industry and Internet of Things,” added Wendell Brooks, president of Intel Capital.