Neural Concept, a Lausanne, Switzerland-based provider of an engineering intelligence platform that transforms product design with 3D Deep Learning, raised $27M in Series B funding.
The round was led by Forestay Capital, with participation from the D. E. Shaw group and existing investors Alven, CNB Capital, HTGF, and Aster Group.
The company intends to use the funds to consolidate its technology position in the field, as well as to accelerate its global recruitment and growth to meet customer demand across Europe, Asia-Pacific, and the US.
Led by CEO Pierre Baqué, Neural Concept specializes in 3D Deep Learning for product engineering teams in the Automotive, Micro-electronics, Aerospace, and Energy industries. The platform combines its proprietary technology with data analysis, MLOps, and application deployment capabilities to make engineering intelligence central to the product simulation and development processes, to improve collaboration across data-science, simulation, and design teams to enhance and accelerate innovation.
More than 60 Original Equipment Manufacturers including Airbus, Bosch, General Electric, Subaru – and four out of ten Formula 1 racing teams – use its platform to place engineering intelligence inside their product development process.
Commenting on the news, Pierre Baqué said: “The world is facing unprecedented global challenges that urgently require innovative engineering solutions. Engineering teams are under enormous pressure to deliver smarter, safer, and more sustainable products faster – but to do this requires a fundamentally new approach. Neural Concept allows Original Equipment Manufacturers to place leading-edge 3D Deep Learning and Generative AI right at the heart of their product development – improving collaboration and processes while helping identify innovative solutions. We are delighted to work with our new investors Forestay Capital and the D. E. Shaw group and all of our existing investors to take the company to the next level. This $27 million Series B funding round will allow us to build on our strong commercial success and help more OEMs around the world harness the full potential of Engineering Intelligence to deliver better products faster.”
FinSMEs
04/06/2024