Summary
– Switzerland-based Neural Concept raised $27 million in a Series B funding round
– Funding was led by Forestay Capital with participation from D. E. Shaw, Alven, CNB Capital, HTGF, and Aster Group
– The company plans to use the funds to develop technology and accelerate global recruitment and growth
– Their AI-based platform can reduce product development times and improve product characteristics by up to 30%
– The platform is being used by product engineering teams in industries like automotive, aerospace, and energy, including at companies like Airbus and General Electric.
Article
Neural Concept, a Switzerland-based company focusing on engineering intelligence using 3D deep learning for product design, recently closed a Series B funding round of $27 million. Forestay Capital led the round, with participation from D. E. Shaw, Alven, CNB Capital, HTGF, and Aster Group, among others. This comes after the company’s previous Series A round of $9 million in March 2022 and a $2 million seed round in 2020. The new funding will be used to further develop the company’s technology and fuel global recruitment efforts to meet increasing customer demand in markets across Europe, Asia-Pacific, and the US.
The AI-based platform developed by Neural Concept integrates their cutting-edge technology with data analysis, machine learning operations (MLOps), and application deployment capabilities. This combination aims to reduce product development timelines, speed up product simulation processes, and enhance product characteristics such as efficiency, safety, speed, and aerodynamics by up to 30%. These advancements have the potential to revolutionize how product engineering is conducted in industries like automotive, micro-electronics, aerospace, and energy. Notably, over 60 original equipment manufacturers (OEMs) including Airbus, Bosch, General Electric, and Subaru already utilize Neural Concept’s platform in their engineering workflows.
Neural Concept’s technology has garnered praise from industry experts for its ability to significantly accelerate the product development lifecycle and streamline the path to market for engineering teams. As companies seek to innovate and bring new products to consumers faster than ever, tools like Neural Concept’s platform can provide a competitive edge by enabling faster, more efficient design iterations and simulations. The company’s focus on enhancing engineering intelligence through deep learning and AI-driven processes positions it as a key player in the advancement of product design and innovation across various sectors.
The funding round led by Forestay Capital and D. E. Shaw reflects investor confidence in Neural Concept’s vision and potential for growth in the rapidly evolving landscape of engineering and design technologies. By securing significant financial backing, the company can continue to invest in its technology, expand its global presence, and meet the increasing demands of customers worldwide. With the promise of improved product development outcomes and enhanced engineering capabilities, Neural Concept is well-positioned to make a lasting impact on how products are designed, tested, and optimized for performance in diverse industries.
As Neural Concept looks to accelerate its global expansion and technology development efforts, the latest funding round serves as a critical milestone in the company’s journey towards becoming a leading provider of engineering intelligence solutions. By leveraging the power of 3D deep learning, data analysis, and machine learning operations, Neural Concept aims to empower engineering teams across industries to achieve faster time-to-market, more efficient design processes, and improved product performance. With a robust customer base that includes some of the world’s largest OEMs, the company is poised for continued success and innovation in the competitive field of product design and development.
Overall, Neural Concept’s successful Series B funding round underscores the growing importance of AI-driven technologies in revolutionizing traditional engineering practices and enhancing product design processes. By harnessing the power of deep learning and machine intelligence, the company is at the forefront of a new era in engineering innovation, enabling companies to achieve significant advancements in product development efficiency, performance optimization, and market competitiveness. With strong investor backing and a proven track record of delivering value to leading OEMs, Neural Concept is well-positioned to drive further growth and innovation in the evolving landscape of engineering intelligence solutions.
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