Paris, February 21st, 2018 – iBionext Growth Fund, an investment fund dedicated to building, supporting and financing the innovative companies of the iBionext start-up studio, today announced the strengthening of its stake in Prophesee (formerly Chronocam), a year after its Series B round. In less than three years, and with the support of iBionext, its largest shareholder, the company raised $ 40 million.
Co-founded and seeded by iBionext in 2014, Prophesee has designed the first artificial vision system, inspired from the biological model, creating a new paradigm for capturing and processing visual data, to meet the requirements of new generation systems. The products and solutions of the Prophesee platform, which replicate the functioning mechanism of the human eye and brain, have many industrial applications, including automotive, robotics and IoT, areas where the challenges are enormous and highly competitive.
Bernard Gilly, President and co-Founder of iBionext commented: “We are strengthening our financial participation at a key moment for the company, as it needs resources to massively grow and establish its competitive advantages. Thanks to its disruptive technology, Prophesee has the potential to become a true success story internationally. By remaining the main shareholder, iBionext provides Prophesee with sustainable and solid support in the next crucial stages of its development. “
Luca Verre, CEO of Prophesee, explains: “The confidence that iBionext Growth Fund has placed in us is a tremendous accelerator for growth: In less than two years, we have rapidly expanded our teams of experts and started marketing our products. This context greatly facilitates our access to leading investors, allowing us to target key markets such as the United States and Asia very soon. “
Created in September 2015, iBionext is a management company and a start-up studio dedicated to the development of innovative start-ups in healthcare. This initiative, launched by Bernard Gilly in 2012, aims to transform technological breakthrough ideas into leading innovative start-ups in the fields of HealthTech and related industrial applications. All these companies are grouped on a single site named the “Passage de l’Innovation” in Paris, France.
Since 2012, 8 companies where created within the iBionext ecosystem – Pixium Vision (Euronext: PIX), GenSight Biologics (Euronext: SIGHT), Gecko Biomedical, ChronoCam, ChronoLife, BrainEver, Tilak Healthcare and Brainiac. iBionext and its companies have raised over 360 million euros in capital (of which € 90 million raised by iBionext Growth Fund). 7 clinical trials are currently underway worldwide and 190 experienced professionals have joined these companies.
iBionext Growth Fund was created in 2016 to finance the growth of new companies selected within the iBionext network.
Prophesee (formerly Chronocam) was founded within iBionext Start-up Studio (Paris) in 2014 by Ryad Benosman, Bernard Gilly, Christoph Posch and Luca Verre. The quartet brings a strong combination of experience in image sensing neuromorphic computing, VLSI design, entrepreneurship and business development.
Mimicking the human eye and brain, the company’s unique event-based method selects only the most useful and relevant elements of a scene, reducing the power, latency and data processing requirements imposed by traditional frame-based systems
Prophesee’s sensors and camera systems open vast new potential in areas such as autonomous vehicles, industrial automation, IoT, security and surveillance, and AR/VR. Its solutions improve safety, reliability efficiency and user experiences across a broad range of use models.
Prophesee is based Passage de l’innovation in Paris, with local offices in Japan and USA, is driven by a team of 60 visionary and global engineers, holds more than 20 international patents and is backed by leading international investors including 360 Capital Partners, Supernova Invest, iBionext, Intel Capital, Renault Group, and Robert Bosch Venture Capital. More information can be found at www.prophesee.ai.
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