[FW Radar] Smart Me Up develops facial recognition for connected objects
Founded by Loïc Lecerf, Steven Durand and Hervé Marchet in February 2012, Smart Me Up develops facial recognition technology.
More details with Loïc Lecerf, CEO of Smart Me Up.
FrenchWeb: What needs does your service meet?
Loïc Lecerf, CEO of Smart Me Up: The technology that we have developed with the researchers of Smart Me Up is a breakthrough technology, which makes it possible to bring vision to an electronic system in a manner similar to humans.
More specifically, this technology makes it possible to detect, track and analyze a target object in a target context.
It allows, for example, a car to detect pedestrians, bicycles, cars; a drone to detect pests or people on the ground; a train to detect objects or people on the track; to a production line to track the elements and proper operation.
What’s your value proposition?
What makes the value of our technology is the ability to embed the vision and learn independently.
Embedded vision brings intelligence to lightweight systems that don’t require expensive processors. But also, as the image is analyzed directly on the processor, it is not kept by the system or transferred to a server. It disappears instantly, which makes it possible to respect image rights and privacy.
The capacity for self-learning does not exist in competition. It allows you to independently learn a specific model for each of the cameras according to its context or the target object. This allows us to achieve high performance analysis capabilities.
Who are the users of your solutions?
Manufacturers who want to make their products intelligent thanks to vision, in particular in the automotive, smart city or factory 4.0 sectors.
Who are your competitors?
Our competitors have solutions based on the power of GPU processors which are very expensive and difficult to embed, unlike us. In addition, the self-learning capacity that we have patented allows us to specifically meet all needs with minimal effort.
What is your development plan?
We have finalized our prototype camera incorporating our technology. This prototype allows any manufacturer to very simply test the technology and instantly estimate the innovation potential for their product.
We are currently more than 20 in the team, mainly PhDs and engineers. We did a 2.4 million fundraising round last year with 6 of the 20 French super angels (Xavier Niel, Jacques-Antoine Granjon, Jean-David Blanc, Xavier Gury, Cyril Grislain, Thierry Vandewalle, ..), which propelled us into this new dynamic. We expect a series A between 7 and 10 million euros in the second half of 2017 to start the commercialization of our technology on a large scale and to position ourselves internationally, in particular on the east coast of the United States.
What are your challenges?
We are positioned in a growing market where everything needs to be done. This is why we want to go very quickly in order to take a leading position in the on-board vision.
In 2017, we are making our technology available to major manufacturers to assess the potential for their product.
In 2018, the technology is being integrated and marketed to as many people as possible, in France and internationally.
This translates into an estimated turnover of 10 million euros within 3 years and 100 million euros within 6 years.
We have doubled our team every year since the creation and we intend to continue at least at this pace! That is to say about 200 within 3 years and a thousand within 6 years.
Founders: Loïc Lecerf, Steven Durand and Hervé Marchet
Creation date : february 2012
Fundraising : 2.4 million in funding with BPI and angels: Xavier Niel, Jacques-Antoine Granjon, Jean-David Blanc, Xavier Gury, Cyril Grislain, Thierry Vandewalle, Pierre-Eric Leibovici …
Seat : Grenoble
Read also: Artificial intelligence: SmartMeUp raises 2 million euros to read your face