Neural Concept, a provider of deep learning software for 3D product design of machines at Airbus, Bosch, General Electric, Subaru and F1, has raised a $27M round on top of its previously raised $11M.
The funding will be used for hiring in leadership roles and to strengthen international offices.
This news follows the recent unveiling of a close technical collaboration with NVIDIA, which aims to refine the performance of physics-driven deep learning models on NVIDIA GPUs and CUDA software.
Founded in 2018 and headquartered in Lausanne, Switzerland, Neural Concept has more than 60 employees across Switzerland, Germany, and the US, and is the leader in 3D Deep Learning for product engineering teams in the Automotive, Micro-electronics, Aerospace, and Energy industries. More than 60 Original Equipment Manufacturers including Airbus, Bosch, General Electric, Subaru – and four out of ten Formula 1 racing teams – rely on Neural Concept’s platform to place Engineering Intelligence at the heart of their product development process.
Deborah Pittet, Senior Principal at lead investor Forestay Capital said, “Neural Concept has pioneered 3D Deep Learning – the leading-edge of AI – and demonstrated phenomenal traction and results with customers in various industries around the world.Â
“We are thrilled to be partnering with the company’s world-class visionary team and lead this significant Series B, which will accelerate its global growth and reshape the way engineering companies around the world develop and design products.â€
Jean Nations at the D. E. Shaw group said, “We are excited to embark on this journey with Neural Concept and to support its growth. We believe Neural Concept can be a powerful accelerant for product engineering teams bringing products to market, as demonstrated by the dozens of global manufacturers already utilizing its innovative platform. This funding helps position Neural Concept to extend Engineering Intelligence to many more.â€
Source: Read MoreÂ
