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Source: https://sifted.eu/articles/startups-went-bust-2024
French deeptech Prophesee developed advanced ‘neuromorphic’ computer vision technology — meaning that it aimed to imitate the structure and function of the human brain and eye. In May 2024, it announced that its technology, which is mostly intended for smartphone cameras, was available in US tech giant AMD’s products. However, in October [2024], the company, which had raised €126m in total, filed for insolvency and entered judicial recovery. It told French publication Les Echos that its next round of fundraising had taken longer than expected.[Update Jan 29 4:30pm Pacific Time] A statement from the company:
Dear All,
The company has entered a judicial recovery procedure at the end of 2024 due to a delay in our fundraising process, which we are now in the final stages of completing with both existing and new investors.
Despite this, our operations continue as normal. My team and I remain fully committed to delivering best in class event-based sensors and solutions to our customers and partners.
Thank you for your continued support.
Cheers,
Luca Verre
CEO & Co-founder
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