Vision IQ / Poseidon Technologies Secures 17M euros / $15M in New Funding for Its Vision IQ(TM) Project 'Teaching Computers to See'

Air Liquide Ventures, and Pre-IPO.net join existing investors



Apr 19, 2001, 01:00 ET from Vision IQ / Poseidon Technologies

    BOULOGNE, France and BEVERLY, Mass., April 19 /PRNewswire/ -- Vision IQ /
 Poseidon Technologies, a leading developer of next generation computer vision
 technologies, announced today that it has received 17M euros / $15M in
 financing in its second round of equity investment, led by Air Liquide
 Ventures.  Pre-IPO.net (Group Banque du Louvre) also participated in this
 round of financing joining previous investors including CDC Innovation
 Partners, Credit Lyonnais Asset Management, NeSBIC CTe, and Apollo Invest, who
 reaffirmed their support for the company.
     Vision IQ / Poseidon Technologies' has baptized its project to build a new
 generation of computer vision technologies "Vision IQ.(TM)"  The objective of
 the project is to "teach computers to see" resulting in a new generation of
 Smart Vision(TM) products.  Based on proprietary "Video Artificial
 Intelligence" technologies, these new products will be capable of making
 decisions in real-time based on what they see.
     "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," said Jerome Meniere, Vision IQ /
 Poseidon Technologies CEO.  "With this round of financing, we will be able to
 accelerate the international commercialization of our first Computer Aided
 Surveillance product and bring two new applications to market between now and
 the end of the year."
     Supported by partnerships with leading academic research laboratories,
 Vision IQ / Poseidon Technologies has developed breakthrough computer vision
 technologies.  These technologies have proven their worth by powering the
 company's first product, the Poseidon(TM) System, the world's first computer-
 aided surveillance system that helps prevent drowning accidents in
 professionally run aquatics facilities.  Sold in Europe and North America,
 this system responds to the needs of over 200,000 facilities around the world,
 a market estimated at over $10 billion.
     On November 28, 2000, at one of its first installations in Ancenis,
 France, this system saved the life of an 18-year-old young man, confirming for
 aquatics professionals the value of the technology and its imminent status of
 a "standard of care."
     Vision IQ / Poseidon Technologies convinced us of their ability to
 transform their technological advance into a product that addresses the needs
 of the market," emphasized Philippe Viennot of Air Liquide Ventures.  "This
 first application gives us the confidence to address other "Smart Vision"
 applications, for example the industrial markets that we know well."
     "The challenge of teaching a computer to see in the aquatics environment
 has pushed our technology much more than we could have ever done in the
 laboratory," said Frederique Guichard, the company's Chief Scientist.  "Now we
 have the basis of applications of computer vision in natural lighting
 conditions that we could have only dreamed of up to now."
 
     Air Liquide Ventures is a 40 million euros venture capital fund.
 Established in 2000 by the Air Liquide Group, it provides value added
 financing for start-ups and emerging growth companies that create new
 information technology services, with the goal of extending the products and
 services Air Liquide can offer to its industrial and healthcare customers.
 Investments of Air Liquide Ventures include Asterop, Miriad Technologies,
 Capsule Technologie, and InfoRay.  Find out more at
 http://www.airliquideventures.com
 
     Air Liquide is a global provider of industrial and medical gases and
 related services. By staying at the vanguard of technological leadership, Air
 Liquide provides its customers all over the world with new products, services
 and solutions. Founded in 1902, Air Liquide has 125 subsidiaries in 60
 countries and employs more than 30,000 people. Total sales in 2000 totaled 8.1
 billion euros with sales outside of France accounting for 77%. Air Liquide is
 listed on the Paris Stock Exchange and is a member of the CAC 40 Index
 (Euroclear 12 007).  For more information see: http://www.airliquide.com
 
     Pre-IPO.net is a firm that includes private and institutional investors
 brought together by the Banque du Louvre.  The firm makes later stage
 investments in companies in the high technology sector.  The Banque du Louvre
 is a private investment bank for large institutional and private investors.
 
     For more information on Vision IQ / Poseidon Technologies' other
 investors:
 
      CDC-Innovation: http://www.cdcinnov.com
      Credit Lyonnais Asset Management: http://www.clamdirect.com
      NeSBIC CTe Fund: http://www.nesbic.com
      Apollo Invest: http://www.apolloinvest.com
 
 
     Vision IQ / Poseidon Technologies was founded in 1995 by its current CEO,
 Jerome Meniere.  A French start-up, the company specializes in the development
 of computer vision technologies and Smart Vision(TM) applications.  The
 company has over 40 employees and has launched activities in France, the
 United States, the Netherlands and Great Britain.
     Vision IQ / Poseidon Technologies has developed breakthrough computer
 vision technologies.  In addition its own research team, the company has
 leveraged close partnerships with academic research and leading applied
 mathematics laboratories including the INRIA, CEREMADE, CNRS, and Ecole
 Normale Superieure.  The company focuses on computer vision for Scene Analysis
 and Computer Assisted Surveillance.  For more information visit
 http://visioniq.com
 
     The Poseidon System
     Vision IQ / Poseidon Technologies markets the world's first computer aided
 drowning detection system.  Already installed in pools in Europe and North
 America, the Poseidon(TM) System is a computer aided surveillance system that
 consists of a network of cameras that constantly survey the pool, and an
 expert system that analyzes, in real-time, the trajectories of the swimmers
 and alerts lifeguards in the first seconds of a potential accident.  The
 Poseidon System is expected to become a world wide security standard for
 public aquatics facilities.  The company currently has no known competitor for
 this product.  For more information: http://www.poseidon-tech.com
 
 

SOURCE Vision IQ / Poseidon Technologies
    BOULOGNE, France and BEVERLY, Mass., April 19 /PRNewswire/ -- Vision IQ /
 Poseidon Technologies, a leading developer of next generation computer vision
 technologies, announced today that it has received 17M euros / $15M in
 financing in its second round of equity investment, led by Air Liquide
 Ventures.  Pre-IPO.net (Group Banque du Louvre) also participated in this
 round of financing joining previous investors including CDC Innovation
 Partners, Credit Lyonnais Asset Management, NeSBIC CTe, and Apollo Invest, who
 reaffirmed their support for the company.
     Vision IQ / Poseidon Technologies' has baptized its project to build a new
 generation of computer vision technologies "Vision IQ.(TM)"  The objective of
 the project is to "teach computers to see" resulting in a new generation of
 Smart Vision(TM) products.  Based on proprietary "Video Artificial
 Intelligence" technologies, these new products will be capable of making
 decisions in real-time based on what they see.
     "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," said Jerome Meniere, Vision IQ /
 Poseidon Technologies CEO.  "With this round of financing, we will be able to
 accelerate the international commercialization of our first Computer Aided
 Surveillance product and bring two new applications to market between now and
 the end of the year."
     Supported by partnerships with leading academic research laboratories,
 Vision IQ / Poseidon Technologies has developed breakthrough computer vision
 technologies.  These technologies have proven their worth by powering the
 company's first product, the Poseidon(TM) System, the world's first computer-
 aided surveillance system that helps prevent drowning accidents in
 professionally run aquatics facilities.  Sold in Europe and North America,
 this system responds to the needs of over 200,000 facilities around the world,
 a market estimated at over $10 billion.
     On November 28, 2000, at one of its first installations in Ancenis,
 France, this system saved the life of an 18-year-old young man, confirming for
 aquatics professionals the value of the technology and its imminent status of
 a "standard of care."
     Vision IQ / Poseidon Technologies convinced us of their ability to
 transform their technological advance into a product that addresses the needs
 of the market," emphasized Philippe Viennot of Air Liquide Ventures.  "This
 first application gives us the confidence to address other "Smart Vision"
 applications, for example the industrial markets that we know well."
     "The challenge of teaching a computer to see in the aquatics environment
 has pushed our technology much more than we could have ever done in the
 laboratory," said Frederique Guichard, the company's Chief Scientist.  "Now we
 have the basis of applications of computer vision in natural lighting
 conditions that we could have only dreamed of up to now."
 
     Air Liquide Ventures is a 40 million euros venture capital fund.
 Established in 2000 by the Air Liquide Group, it provides value added
 financing for start-ups and emerging growth companies that create new
 information technology services, with the goal of extending the products and
 services Air Liquide can offer to its industrial and healthcare customers.
 Investments of Air Liquide Ventures include Asterop, Miriad Technologies,
 Capsule Technologie, and InfoRay.  Find out more at
 http://www.airliquideventures.com
 
     Air Liquide is a global provider of industrial and medical gases and
 related services. By staying at the vanguard of technological leadership, Air
 Liquide provides its customers all over the world with new products, services
 and solutions. Founded in 1902, Air Liquide has 125 subsidiaries in 60
 countries and employs more than 30,000 people. Total sales in 2000 totaled 8.1
 billion euros with sales outside of France accounting for 77%. Air Liquide is
 listed on the Paris Stock Exchange and is a member of the CAC 40 Index
 (Euroclear 12 007).  For more information see: http://www.airliquide.com
 
     Pre-IPO.net is a firm that includes private and institutional investors
 brought together by the Banque du Louvre.  The firm makes later stage
 investments in companies in the high technology sector.  The Banque du Louvre
 is a private investment bank for large institutional and private investors.
 
     For more information on Vision IQ / Poseidon Technologies' other
 investors:
 
      CDC-Innovation: http://www.cdcinnov.com
      Credit Lyonnais Asset Management: http://www.clamdirect.com
      NeSBIC CTe Fund: http://www.nesbic.com
      Apollo Invest: http://www.apolloinvest.com
 
 
     Vision IQ / Poseidon Technologies was founded in 1995 by its current CEO,
 Jerome Meniere.  A French start-up, the company specializes in the development
 of computer vision technologies and Smart Vision(TM) applications.  The
 company has over 40 employees and has launched activities in France, the
 United States, the Netherlands and Great Britain.
     Vision IQ / Poseidon Technologies has developed breakthrough computer
 vision technologies.  In addition its own research team, the company has
 leveraged close partnerships with academic research and leading applied
 mathematics laboratories including the INRIA, CEREMADE, CNRS, and Ecole
 Normale Superieure.  The company focuses on computer vision for Scene Analysis
 and Computer Assisted Surveillance.  For more information visit
 http://visioniq.com
 
     The Poseidon System
     Vision IQ / Poseidon Technologies markets the world's first computer aided
 drowning detection system.  Already installed in pools in Europe and North
 America, the Poseidon(TM) System is a computer aided surveillance system that
 consists of a network of cameras that constantly survey the pool, and an
 expert system that analyzes, in real-time, the trajectories of the swimmers
 and alerts lifeguards in the first seconds of a potential accident.  The
 Poseidon System is expected to become a world wide security standard for
 public aquatics facilities.  The company currently has no known competitor for
 this product.  For more information: http://www.poseidon-tech.com
 
 SOURCE  Vision IQ / Poseidon Technologies