The latest funding brings the total raised to date by Prophesee to $68 million. The lead investor was the European Investment Bank, and included existing investors iBionext, 360 Capital Partners, Intel Capital, Robert Bosch Venture Capital and Supernova Invest.
Prophesee launched an event-based image sensor recently along with a slight pivot of the company's target use cases away from automotive and towards industrial applications (see Prophesee steers event-based vision sensor towards industrial applications ).
The money raised in the latest round will be used, in part, to develop a version of the image sensor aimed at automotive and consumer markets, including autonomous driving and ADAS as well as uses in VR/AR and IoT, the company said.
"Our event-based approach to vision sensing and processing has resonated well with our customers in the automotive, industrial and IoT sectors, and the technology continues to achieve impressive results in benchmarking and initial industrialization engagements. This latest round of financing will help us move rapidly from these successes to broader market adoption," said Luca Verre, co-founder and CEO of Prophesee.
In Prophesee's Metavision sensors, each pixel is independent and asynchronous is only activated if it senses a change in the scene. This reduces power, latency and data processing compared with traditional frame-based image sensors. It also allows higher dynamic range in lighting and for extremely high frame rates when events are happening.
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