Chronocam raises $15 million to bring vision sensors to automotive and IoT
Chronocam, a French developer of innovative vision sensors and systems for applications in all fields of machine vision, is planning to develop and commercialise its biologically-inspired vision sensing and processing technology thanks to a $15 million (£12.3m) series B finance round.
The funding round was led by Intel Capital, along with iBionext, Robert Bosch Venture Capital GmbH, 360 Capital, CEAi and Renault Group.
The company’s deep expertise in computer vision technology, sensor design and neuromorphic computer mimics the human brain. This method uses innovative data capture techniques to greatly improve performance, dynamic range and power efficiency of cameras in a wide range of applications.
Luca Verre, CEO and co-founder of Chronocam, said: “Conventional computer vision approaches are not well-suited to the requirements of a new generation of vision-enabled systems. For example, 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.”
Wendell Brooks, senior vice president at Intel and president of Intel Capital, said: “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.
“Connected machines can quickly and accurately visualize their environment and act on that data in real time, for example, bringing the potential to protect lives with safer roads. We look forward to helping Chronocam bring the next generation of smart machine vision systems to market,” Brooks added.
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