MarketWired, BusinessWire: Chronocam SA announces it has raised $15M in Series B round led by Intel Capital, along with iBionext, Robert Bosch Venture Capital GmbH, 360 Capital, CEAi and Renault Group.
Chronocam will use the investment to continue building a world-class team 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.
“Conventional computer vision approaches are not well-suited to the requirements of a new generation of vision-enabled systems,” said Luca Verre, CEO and co-founder of Chronocam. “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.
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.”