11 December 2019:
Outsight has raised $20 million in Seed Funding. The funding round was led by Demeter Partners, SPDG (the holding company of the Périer-D’Ieteren family) and the BNP Paribas bank (through its Energy Transition Capital investment line dedicated to start-ups).
Faurecia,with whom Outsight has recently announced a collaboration on Automotive applications, has also invested through Faurecia Ventures along with the international high-technology group Safran.
Cedric Hutchings, CEO and co-founder of Outsight, said, “By combining contrarian software and hardware approaches from day one, we bring Situation Awareness to new levels of performance and integration, and thus accelerating the deployment of this critical capability for any AI that interacts with the real world.”
Raul Bravo, President co-founder of Outsight, said, “Our 3D Semantic Camera is not only a new device but a change of paradigm where Situation Awareness becomes plug&play for the first time: we’re creating a new category of solutions that will unleash tremendous business value. We’re proud of having the support of such solid and knowledgeable investors that share our ambition.”
Laura Wirsztel, Investment Director at BNP Paribas, said, “With Outsight, we finally found a cost efficient and scalable 3D perception solution enabling a significant breakthrough beyond what LiDARs and 2D Cameras can deliver. Beyond the immediate ADAS applications, Outsight’s technological solution will be a key enabler in the emergence of autonomous vehicles that we see as shared and electric in the future. This investment is in line with our strategy to invest in start-ups that can play a role in the reshaping of tomorrow’s sustainable mobility and accelerate the energy transition.”
Maureen Le Baud, Investment Director at Demeter, said, “At Demeter, we perceive that the immediate market potential for Outsight’s solution in Smart Monitoring is very significant. 3D real-time perception is unlocking a full range of new services, increasing security while respecting the GDPR framework.”
Frantz Lohier, CTO of Faurecia Clarion Electronics, said, “Faurecia is pleased to invest in Outsight; their unique expertise in sensing and processing technologies with point-cloud classification is notably complementing Faurecia Clarion Electronics leadership and it will help us to develop the next advanced generation of ADAS systems.”
(Image – Outsight)