Business Wire

Engineering AI Platform Neural Concept Raises $27 Million Series B to Further Accelerate Global Growth

Share

Neural Concept, the leading Engineering Intelligence platform that transforms product design with 3D Deep Learning, has announced that it has raised $27 million in a Series B funding round. The round was led by Forestay Capital, with the D. E. Shaw group and existing investors Alven, CNB Capital, HTGF, and Aster Group also participating. This round follows the company’s $9 million Series A round in March 2022 and $2 million Seed round in 2020. Funds raised in this latest round will be used to consolidate Neural Concept’s technology leadership in the field, as well as to accelerate its global recruitment and growth to meet strong customer demand across Europe, Asia-Pacific, and the US.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240531755430/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Neural Concept, the leading Engineering Intelligence platform that transforms product design with 3D Deep Learning, has raised $27 million in a Series B funding round. The round was led by Forestay Capital, with the D. E. Shaw group and existing investors Alven, CNB Capital, HTGF, and Aster Group also participating. (Graphic: Business Wire)

Manufacturers globally are facing unprecedented challenges. The need for improved performance, safety, and sustainability is increasing, while pressure to reduce costs and accelerate innovation continues to rise. Neural Concept solves these challenges by empowering engineering teams to develop better products faster using AI.

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.

The platform combines Neural Concept’s proprietary technology with unique data analysis, MLOps, and application deployment capabilities to make Engineering Intelligence central to the product simulation and development processes. It dramatically improves collaboration across data-science, simulation, and design teams in order to enhance and accelerate innovation. Neural Concept is proven to reduce end-to-end product development times by up to 75%; accelerate product simulation by up to 10x; and improve product characteristics, including efficiency, safety, speed, and aerodynamics, by up to 30%.

The Series B funding news follows the recent unveiling of a close technical collaboration with NVIDIA, allowing Neural Concept to optimize performance of physics-driven deep learning models on NVIDIA GPUs and CUDA software and to jointly push the frontiers of the field.

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. 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.

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.”

Pierre Baqué, Co-founder and CEO at Neural Concept 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.”

Watch the video to learn more about Neural Concept and Engineering Intelligence:

*video embed*

Editors Notes

About Neural Concept: www.neuralconcept.com

Founded in 2018, Neural Concept provides a leading end-to-end platform which places 3D AI at the center of the product development process to revolutionize the way engineers conceptualize, design, and validate products with Engineering Intelligence. The company – which was spun out from the Swiss Federal Institute of Technology in Lausanne (EPFL) and is backed by world renowned investors including Forestay Capital, the D. E. Shaw group, Alven, CNB Capital, HTGF, and Aster Group – works with 40% of the largest European and Asian OEMs and 25% of the world’s top 100 tier-1 suppliers.

About Forestay Capital: www.forestay.vc

Founded in 2018, Forestay is an early-growth stage tech fund and part of B-FLEXION, an entrepreneurial private investment firm founded by Ernesto Bertarelli. Forestay invests in visionary teams reaching growth inflection points and partners with them to create future category leaders. The fund supports start-ups with investments between $10M and $20M in Europe, Israel, and opportunistically on the East Coast of the US.

About The D. E. Shaw Group:www.deshaw.com

The D. E. Shaw group is a global investment and technology development firm with more than $60 billion in investment capital as of March 1, 2024, and offices in North America, Europe, and Asia. Since the D. E. Shaw group’s founding in 1988, the firm has earned a reputation for successful investing based on innovation, careful risk management, and the quality and depth of its staff. The D. E. Shaw group has a significant presence in the world's capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For media interviews and assets, contact Olly Cooper, ThoughtLDR: neuralconcept@thoughtldr.com / olly@thoughtldr.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Armis Named ‘Outperformer’ and ‘Leader’ in GigaOm Radar Report for Operational Technology Security for Second Consecutive Year24.6.2024 18:15:00 EEST | Press release

Armis, the asset intelligence cybersecurity company, today announced that it has been named a Leader and Outperformer in the 2024 GigaOm Radar Report for Operational Technology (OT) Security. This is the second year running is recognized as a Leader in the field of OT Security, cementing its status as a mature platform solution providing proactive end-to-end security for cross-vertical organizations looking for a cohesive approach to OT Security management. Armis scored multiple 5/5 perfect scores showcasing Armis’ customer-centric vision to deliver OT security built on deep asset context, proactive threat intelligence and total vulnerability management. From cost and ease of use to scalability and flexibility and certification, Armis was recognized for being built for smooth deployment in OT environments. “The on-going development of the Armis Centrix™ platform has enabled us to offer complete end to end OT security management from complete visibility, vulnerability remediation and ma

H.I.G. Capital Raises $1.3 Billion for Infrastructure Fund24.6.2024 16:30:00 EEST | Press release

H.I.G. Capital (“H.I.G.” or “the Firm”), a leading global alternative asset management firm with $64 billion of capital under management, is pleased to announce the closing of H.I.G. Infrastructure Partners (the “Fund”). The Fund closed with aggregate capital commitments of approximately $1.3 billion.1 H.I.G. Infrastructure Partners seeks to make control-oriented, infrastructure equity investments focused on the middle market segment, leveraging H.I.G.’s focus on the middle market and its operational value creation expertise. To date, across North America and Europe, the Fund has made seven investments, two of which are expected to close in Q3 2024. Sami Mnaymneh and Tony Tamer, Co-Founders of H.I.G., commented, “We greatly appreciate the strong support from our investors for our Infrastructure strategy. Their confidence in our investment approach to infrastructure underscores the power of the Firm’s platform and our ability to generate strong returns through value creation in the unde

Grid Dynamics Releases a GenAI Toolkit to Enhance Developer Productivity24.6.2024 16:15:00 EEST | Press release

Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) (Grid Dynamics), a leading provider of technology consulting, platform and product engineering, AI, and advanced analytics services, unveils its AI for Developer Productivity Toolkit. This toolkit provides specialized applications for common software development scenarios including application modernization, functional test automation, and cloud deployment observability. These purpose-built tools enable development teams to solve corresponding problems faster and more efficiently than general-purpose coding LLMs and copilots. This release includes three new tools to address three in-demand use cases across Grid Dynamics’ client base. The first tool, AI Application Modernization, performs architectural analysis of legacy applications, generates detailed specifications for the target technology stack, and implements these specifications in the code. The second tool, AI Test Automation, enables end-to-end functional test generation by analyzing

Adtran and Iridium strengthen PNT resilience in Europe and Asia-Pacific with Satellite Time and Location technology24.6.2024 15:00:00 EEST | Press release

Adtran, in partnership with Iridium Communications Inc. (NASDAQ: IRDM), today announced the European and Asia-Pacific launch of its synchronization solutions featuring Iridium® Satellite Time and Location (STL) technology, a significant step in countering growing threats to Global Navigation Satellite Systems (GNSS). Adtran’s OSA 5405-S PTP compact grandmaster clock with STL capabilities and its OSA 5400 STL module are now available to timing network operators in Western Europe, major countries in Eastern Europe, Turkey, and parts of Asia-Pacific, including the majority of Southeast Asia, Japan and South Korea. The solutions enhance the resilience and reliability of critical infrastructure, such as 5G networks, defense systems and many more. Leveraging low-Earth orbit (LEO) satellites to deliver precise and secure positioning, navigation and timing (PNT) services, the devices ensure continuous synchronization even in environments where GNSS is compromised. As a certified Iridium partne

New Report Exposes the “Dark Underworld” of Illegal Tobacco Trade in Canada, France, the Philippines and the United Kingdom24.6.2024 13:00:00 EEST | Press release

The new study Fighting the Dark Underworld: How the illegal trade in tobacco threatens to overwhelm us, by Intrinsic Insight and commissioned by JTI, sheds new light on the pervasiveness of organized crime within global society, focusing on four countries with high levels of illicit tobacco trade: Canada, France, Philippines, and the United Kingdom. The report, released today, examines the “dark underworld” and how unstable geo-political environments, fragile economies and a lack of serious deterrents creates the ideal conditions for a surge in criminal activity and increased profits for criminal networks. The report highlights key indicators – found across the four countries – that are allowing illegal trade to flourish. “A combination of factors ranging from poor border controls and ineffective penalties to corruption, excessive taxation and legislation, are contributing to both the increase in demand for illicit products while making it easier for criminals to grow substantial crimi

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye