Robert Bosch Venture Capital participates in 15 million Dollar funding round of Chronocam led by Intel Capital
Developer of biologically-inspired vision sensors
- Investment to help productize innovative biologically-inspired computer vision technology
- Robert Bosch Venture Capital continues support of company after Series A investment in 2015
- Investment extends portfolio of innovative start-ups in the field of robotics and autonomous vehicles
Stuttgart, Germany – Robert Bosch Venture Capital, the corporate venture capital company of the Bosch Group, participates in the 15 million Dollar Series B investment round of Chronocam SA. This investment comes about 18 months after Robert Bosch Venture Capital led the Series A round of Chronocam in 2015. The Paris based start-up company is the innovation leader of biologically-inspired vision sensors and computer vision solutions. The new funding comes from lead investor Intel Capital, along with iBionext, 360 Capital, Renault-Nissan Group, as well as the investors of Chronocam’s previous Series A round, CEAi and Robert Bosch Venture Capital.
Chronocam to accelerate product development
Chronocam will use the investment 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 sensing and processing technology. “Chronocam’s novel biologically-inspired vision sensor has disruption potential in many technology fields, that are of relevance to Bosch, such as autonomous vehicles, robotics, and IoT”, says Dr. Ingo Ramesohl, managing director of Robert Bosch Venture Capital. "As one of the original Series A investors of Chronocam, we are happy to continue our support of the company. Since our first investment last year, the team has achieved significant technology and customer milestones. With the support of this strong syndicate the company is well positioned to continue the development of their unique technology and reach a leadership position in one of the most important and fast growing market segments”, adds Gad Toren, Investment Partner at Robert Bosch Venture Capital. The investment extends the Robert Bosch Venture Capital portfolio of innovative start-ups enabling robotics and autonomous vehicles, such as ADASWorks and robart.
Company well positioned to capitalize significant market opportunity
“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,” says 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 are well-positioned to capitalize on this significant market opportunity; and we appreciate the confidence demonstrated by our investors as we roll out our technology to an increasing number of customers.”
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.
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