Investee Company – Vision IQ/Poseidon Technologies (France)
Investee Company Business Type – Develops next generation computer vision technologies
Type of Financing – Expansion
Equity Providers – Air Liquid Ventures, Pre-IPO.net, CDC Innovation Partners, Credit Lyonnais Asset Management, NeSBIC Cte and Apollo Invest.
Equity Leader (Individual) – Philippe Viennot
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – euro17 million
Total Deal Value – euro17 million
Other Advisors – N/A
Comments – Air Liquide Ventures have led a euro17 million investment round in Vision IQ/ Poseidon Technologies. Air Liquide were joined in this round by Pre-IPO.net (Group Banque du Louvre), and first round investors CDC Innovation Partners, Credit Lyonnais Asset Management, NeSBIC Cte and Apollo Invest.
Vision IQ/ Poseidon Technologies develop next generation computer vision technologies. The companies objective is to “teach computers to see”, to develop technology that is capable of making decisions in real-time based on what they see.
The company have already developed the Poseidon? System which is the world’s first computer aided drowning detection system. It is a surveillance system that analyzes, in real time, the trajectories of the swimmers and alerts lifeguards if there is a potential acident. This system has already saved one life in Ancenis, France.
Philippe Viennot, investment manager at Air Liquide Ventures, commented, ” Vision IQ/Poseidon Technologies convinced us of their ability to transform their technological advance into a product that addresses the needs of the market.”
Vision IQ/ Poseidon Technologies plan to use this financing to accelerate the international commercialisation of the Poseidon? System and to market two new applications by the end of the year.
Jerome Meniere, CEO of Vision IQ/ Poseidon Technologies said, “The success of this round of funding is a strong confirmation of the market potential of our computer vision technologies, particularly given the current state of the financial markets.”