TMCnet News
iBionext Growth Fund Initiates Its First Investment in Chronocam in a 15M$ Series B RoundiBionext Growth Fund, a new venture capital fund launched in early 2016, which builds, accompanies and leads the financing of disruptive healthcare startups, today announced a first investment in a 15M$ Series B financing in Chronocam. Chronocam was co-founded and seeded by its Chairman Bernard Gilly and the iBionext team in 2014, after a maturation phase of 18 months. Located within the "Passage of innovation" in Paris, Chronocam will continue to leverage the support of the iBionext network throughout its development. Alexia Perouse, CEO & Managing Partner of iBionext commented: "Initiated within our ecosystem two years ago, Chronocam is the fourth game-changing startup created and actively supported by iBionext. We have been looking very closely at the development of the company and were convinced about its potential for market disruption since the beginning. We are excited to witness the progress Chronocam has made so far and to invest massively in this new phase of growth." The funds raised will be used by Chronocam to continue building a world-class team to accelerate product development and commercialize its computer visio 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 technology. The Chronocam method uses innovative data capture techniques to greatly improve performance, dynamic range and power efficiency of cameras in a wide range of applications. "Conventional computer vision approaches are not well-suited to the requirements of a new generation of vision-enabled systems: 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," said 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 appreciate the confidence demonstrated by our investors as we roll out our technology to an increasing number of customers."
About Chronocam
About iBionext View source version on businesswire.com: http://www.businesswire.com/news/home/20161024006225/en/ |
