The French startup Outsight has today announced raising €18 million in seed funding. This is the largest seed funding raised in Europe in 2019, tied with Nivaura. The round was led by Demeter Partners, SPDG and the BNP Paribas bank.
Outsight, founded in 2019, has developed the first 3D Semantic Camera, a unique device that can simultaneously perceive and understand the environment in 3D, including the detection of the material composition of objects.
The multi-billion-dollar ‘smart monitoring’ market is currently dominated by 2D-based video solutions (CCTV Cameras and 2D Video analytics), and is rapidly evolving. 3D sensing technology will bring unique value to this market and unleash new applications.
Outsight’s technology is the very first of its kind to provide ‘Full Situation Awareness’ in a single device. Its 3D Semantic Camera is a mass-producible, “all in one solution” with the ability to simultaneously perceive, localize and comprehend the environment from hundreds of meters.
The company currently has two families of products: a 3D Smart Monitoring solution for wide-area premises such as airports, malls, and venues, and a specific version for Vehicles, such as cars and off-road mobile robots.
In its vehicle version, this sensor will provide new levels of safety and reliability for currently man-controlled machines such as Level 1- 3 ADAS (Advanced Driving Assistance Systems), construction/mining equipment, planes and more. The technology is set to accelerate the emergence of fully automated Smart Machines such as Level 4- 5 self-driving cars, robots, drones and autonomous flying taxis, among others.
“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”, said Raul Bravo, President co-founder of Outsight.
“With Outsight, we finally found a cost-efficient 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 startups that can play a role in the reshaping of tomorrow’s sustainable mobility and accelerate the energy transition”, said Laura Wirsztel, Investment Director at BNP Paribas.