Intel Capital, 360 Capital Parners, CEA Investissement, Renault-Nissan, and Robert Bosch Venture Capital also participated.
Paris, October 24th 2016 – iBionext Growth Fund, a new venture capital fund launched in early 2016, which builds, accompanies and leads the financing of disruptive healthcare startups, today announced a first investment in a 15M$ Series B financing in Chronocam.
Chronocam was co-founded and seeded by its Chairman Bernard Gilly and the iBionext team in 2014, after a maturation phase of 18 months. Located within the “Passage of innovation” in Paris, Chronocam will continue to leverage the support of the iBionext network throughout its development.
Alexia Perouse, CEO & Managing Partner of iBionext commented: “Initiated within our ecosystem two years ago, Chronocam is the fourth game-changing startup created and actively supported by iBionext. We have been looking very closely at the development of the company and were convinced about its potential for market disruption since the beginning. We are excited to witness the progress Chronocam has made so far and to invest massively in this new phase of growth.”
The funds raised will be used by Chronocam to continue building a world-class team to accelerate product development and commercialize its computer vision sensing and processing technology. The funding will also allow the company to expand into key markets, including the US and Asia.
Chronocam’s proprietary approach leverages the company’s deep expertise in vision technology, sensor design and neuromorphic computing, which has led to several patents for its CMOS technology. The Chronocam method uses innovative data capture techniques to greatly improve performance, dynamic range and power efficiency of cameras in a wide range of applications.
“Conventional computer vision approaches are not well-suited to the requirements of a new generation of vision-enabled systems: autonomous vehicles require faster sensing systems which can operate in a wider variety of ambient conditions; in the IoT segment, power budgets, bandwidth requirements and integration within sensor networks make today’s vision technologies impractical and ineffective,” said Luca Verre, Co-founder and CEO of Chronocam. “Chronocam’s unique bio-inspired technology introduces a new paradigm in capturing and processing visual data, and addresses the most pressing market challenges head-on. We appreciate the confidence demonstrated by our investors as we roll out our technology to an increasing number of customers.”
About Chronocam
Chronocam is developing a unique, bio-inspired and self-adapting approach to the need for visual sensing and processing in autonomous vehicles, connected devices, security and surveillance systems. Its innovative vision sensors and systems replicate the functioning of the human eye and address the limitations of conventional vision sensors by enabling real time sensing of the relevant dynamic scene context and acquiring only what is necessary. The result is that Chronocam’s vision solutions set a new benchmark for computer vision performance with unprecedented speed, dynamic range, sensor level video compression and power efficiency, at the same time. Based in Paris, Chronocam is a venture backed company with investors including 360 Capital, CEA Investissement, iBionext, Intel Capital, Renault-Nissan Group, and Robert Bosch Venture Capital. For more information : http://www.chronocam.com
About iBionext
Created in 2015, iBionext is a management company dedicated to the development of innovative healthcare start-ups. This initiative, launched as a network of start-ups by Bernard Gilly in 2012, aims to transform disruptive scientific ideas into innovative start-ups in the fields of biotech, medtech and connected medical devices. The start-ups are all located in a single site named “Passage de l’Innovation” in Paris, France.
Since 2012, the iBionext network has participated in the creation of seven companies – Pixium Vision (Euronext: PIX) GenSight Biologics (Euronext: SIGHT), Gecko Biomedical, Chronocam, ChronoLife, BrainEver, Tilak Healthcare – and raised over 250M€ (including 46M€ from iBionext Growth Fund). Six clinical trials are currently underway in the world and 127 collaborators specialized in various sectors have joined these companies.
iBionext Growth Fund was created in 2016 to fund and build new companies selected from the iBionext network.
For more information: https://www.ibionext.com
Contact iBionext: contact@ibionext.com +331.76.21.47.50
Press contact: Annie-Florence Loyer afloyer@newcap.fr 06.88.20.35.59 01.44.71.00.12