Photoneo raises one of the largest seed rounds in Central Europe

Bratislava, September 15^th, 2015 – Photoneo, a Slovak-based pioneer in the field of 3D object sensing, has secured one of the largest seed rounds recorded in Central Europe. The EUR 2.1 MM investment is led by Prague-based venture capital firm Credo Ventures with participation of several notable co-investors including the investment arm of RSJ, one of the largest algorithmic trading companies in the world, co-founder of ESET Miroslav Trnka, Avast’s co-founders Eduard Kučera and Pavel Baudiš, CEO of Ximea Max Larin and founder of FINVIZ Juraj Ďuriš.

Photoneo has developed a unique, patented method of 3D object sensing, which allows the firm to produce 3D cameras with the highest resolution at frame rates up to 60 FPS.  Such high performance of resolution and speed in a single camera allow Photoneo to deliver its revolutionary 3D technology to any company that produce or assemble products using automated production lines or robots. Photoneo is already testing its technology with companies in wide range of industries including automotive, logistics, air travel or medical devices.

Jan Žižka, CEO of Photoneo says: ”The newly raised capital will allow our company to finish the image sensor chip thanks to which our camera will operate at full resolution at higher speeds. Additionally, we plan to strengthen our team on both technical and sales side to accommodate the large spectrum of use cases our potential customers are seeking to accommodate”.

“Photoneo is a testament to the fact that Central Europe can indeed deliver revolutionizing technologies that change how industries operate on a global scale. This assumption is at the core of the investment thesis of our second fund, which is doubling down on its investment activity in Slovakia and across the entire Central European region” says Andrej Kiska, partner at Credo Ventures.

For press inquiries please contact

Ján Žižka, CEO & Co-Founder, Photoneo, +421 903 610 677, zizka@photoneo.com

About Credo Ventures

Based in Prague, Czech Republic Credo Ventures is one of the largest venture capital firms focusing on early stage startups in Central Europe. With over EUR 50 M in assets under management, Credo focuses on seed and Series A investments in the fields of Internet, IT and Health. Credo Ventures believes in ability to take Central European companies from zero to success on a global scale. The fund builds upon its strong international relationships; its Advisory Board is headed by technology visionary and investor Esther Dyson and its capital is comprised of solely private investments of more than 30 successful global technology entrepreneurs from Central Europe.

For more information, please visit www.credoventures.com

About Photoneo

Photoneo is a machine vision startup based in Slovakia with a team of visionaries and talented engineers. With our patented technology of advanced 3D vision cameras, we are setting the new benchmark of smart vision systems. We are cooperating with leading industrial suppliers to deliver outstanding sensoric performance to drive the future autonomous systems ranging from collaborative robots, drones, self-driving vehicles to unbeatable face-recognition and enhancing human vision in augmented reality applications.

For more information, please visit www.photoneo.com