Prophesee raises €50 million from China, Saudi Arabia
Event-based vision sensing pioneer Prophesee SA, has raised €50 million including money from China’s Sinovation and Xiaomi and Prosperity7 from Saudi Arabia.
These funders join international investors from North America, Europe and Japan that include Intel Capital, Robert Bosch Venture Capital, 360 Capital, iBionext, and the European Investment Bank.
This brings the total raised by Prophesee to €127 million since the company’s formation as Chronocam in 2014.
Prosperity7 Ventures is a subsidiary of Saudi Aramco. Prophesee said it would use the money to develop business across a broad front including semiconductors, industrial, robotics, IoT and mobile devices.
Prophesee has developed an asynchronous pixel sensor technology that can be event-driven and much more energy efficient for machine vision applications, than full-frame CMOS image sensors. This Metavision technology reduces the amount of data needed to capture information. This reduces latency, and supports robustness to challenging lighting conditions, energy efficiency, and low data rate.
In a statement issued by Prophesee Aysar Tayeb, the executive managing director at Prosperity7, said that Prophesee has more than 5,000 developers using its technology, partly through cooperation with Sony.
Its partnership with Sony has resulted in a high-definition vision sensor that combines Sony’s CMOS image sensor technology with Prophesee’s Metavision sensing 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,” said Tayeb.
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