Switzerland-based Neural Concept, which is developing an engineering intelligence using 3D deep learning for product design, has raised $27 million in a Series B funding round.
The round was led by Forestay Capital. Investment and technology development firm D. E. Shaw and existing investors Alven, CNB Capital, HTGF and Aster Group also participated.
The round follows the company’s $9-million Series A round in March 2022 and $2-million seed round in 2020. The company plans to use the funds raised in the latest round to develop its technology and accelerate its global recruitment and growth to meet customer demand across Europe, Asia-Pacific and the US.
The AI-based platform combines Neural Concept’s technology with data analysis, machine learning operations (MLOps) and application deployment capabilities to reduce product development times, accelerate product simulation and improve product characteristics—including efficiency, safety, speed, and aerodynamics—by up to 30%, according to the company.
The platform is used by product engineering teams in the automotive, micro-electronics, aerospace and energy industries, including at more than 60 OEMs such as Airbus, Bosch, General Electric and Subaru.
“Neural Concept can be a powerful accelerant for product engineering teams bringing products to market,” said Jean Nations, Senior VP at D. E. Shaw.
Source: Neural Concept
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