A new round brings Prophesee close to $100m in total funds raised to date and aims to help the company crack the critical China market.

China’s economy is roaring back to pre-pandemic levels and has considerable growth potential. For any European company, entering the Chinese market and implementing its business strategy can be a long and perilous process, unless you are inducted by artificial intelligence (AI) guru Kai-Fu Lee.

“It is the recognition of the work that has been done and it is perhaps the beginning of a new phase with new objectives, with each time the challenge of having to progress both on product development and on commercial development,” said Luca Verre, co-founder and CEO of Prophesee, in an interview with EE Times Europe.

7 years, $100 million

The amount of the investissement was not disclosed, but a quick calculation provides the answer. In 2019, Prophesee indeed raised €25 million ($28 million) in funding, bringing the total to $68 million since its creation in 2014, and Verre said, “We’re getting very close to a total investment of $100 million.”

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