Prophesee closes €50M C Series round with new investment from Prosperity7 to drive commercialization of revolutionary neuromorphic vision technology; Becomes EU's most well-funded fabless semiconductor startup
Summary
"Gaining the support of such a substantial investor as Prosperity7 adds another globally-focused backer that has a long-term vision and understanding of the requirements to achieve success with a deep tech semiconductor investment. We appreciate the rigor which they, and all our investors, have used in evaluating our technology and business model and are confident their commitment to a long-term relationship will be mutually beneficial," said Luca Verre, co-founder and CEO of Prophesee.The round builds further momentum for Prophesee in accelerating the development and commercialization of its next generation hardware and software products, as well as position it to address new and emerging market opportunities and further scale the company. With its fundamentally differentiated AI-driven sensor solution, its demonstrated track record with global leaders such as Sony, and its fast-growing ecosystem of more than 5,000 developers using its 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." By utilizing neuromorphic techniques to mimic the way that human brain and eye work, Prophesees event-based Metavision technology significantly reduces the amount of data needed to capture information. Prophesees patented Metavision\xae sensors and algorithms mimic how the human eye and brain work to dramatically improve efficiency in areas such as autonomous vehicles, industrial automation, IoT, security and surveillance, and AR/VR.