Paris, France-based inventor of the world’s most advanced neuromorphic vision systems, Prophesee closed its Series C round at EUR 50 million. The company announced the closure on September 23, 2022. Prophesee received a new investment from Prosperity7 Ventures. Besides Sinovation Ventures and Xiaomi, the company is backed by a strong group of international investors from North America, Europe and Japan. The group includes investors such as Intel Capital, Robert Bosch Venture Capital, 360 Capital, iBionext, and the European Investment Bank.
Since its inception in 2014, the company’s total funding now amounts to USD 127 million. Prophesee now counts under the EU’s most well-funded fabless semiconductor startup.
Purpose of Investment for Prophesee
With the latest proceeds from Series C, the company has plans to fuel the development and commercialization of its hardware and software products.
It also seeks to explore new and emerging market opportunities. Prophesee further intends to scale across key ecosystems in semiconductors, industrial, robotics, IoT and mobile devices.
What the co-founder has to say
Luca Verre, co-founder and CEO of Prophesee, said, “Gaining the support of such a substantial investment as Prosperity7 adds another globally-focused backer that has a long-term vision and understanding of the requirements to achieve success with a deep tech semiconductor investment. Their support is a testament to the progress achieved and the potential that lies ahead for Prophesee. We appreciate the rigour which they, and all our investors, have used in evaluating our technology and business model and are confident their commitment to a long-term relationship will be mutually beneficial.”
What the investor has to add
Aysar Tayeb, the Executive Managing Director at Prosperity7, said, “Prophesee is leading the development of a very unique solution that has the potential to revolutionize and transform the way motion is captured and processed. The company has established itself as a clear leader in applying neuromorphic methods to computer vision with its revolutionary event-based Metavision® sensing and processing approach. With its fundamentally differentiated AI-driven sensor solution, its demonstrated track record with global leaders such as Sony, and its fast-growing ecosystem of more than 5,000 developers using its technology, we believe Prophesee is well-positioned to enable paradigm-shift innovation that brings new levels of safety, efficiency and sustainability to various market segments, including smartphones, automotive, AR/VR and industrial automation. Prophesee and its unique team hit the criteria we constantly search for in startup companies with truly disruptive, life-changing technologies.”
About the company
Founders Bernard Gilly, Christoph Posch, Luca Verre, and Ryad Benosman launched Prophesee in 2014. The France-based company is the innovator of advanced neuromorphic vision systems. The company currently employs over 100 visionary engineers. Besides, it holds more than 50 international patents.
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