Neural Concept, the leading Engineering Intelligence platform that revolutionizes product design through 3D Deep Learning, has successfully raised $27 million in a Series B funding round. Led by Forestay Capital, this round also saw participation from the D. E. Shaw group, along with existing investors Alven, CNB Capital, HTGF, and Aster Group. This follows the company’s previous $9 million Series A round in March 2022 and $2 million Seed round in 2020. The newly acquired funds will be used to strengthen Neural Concept’s technological leadership and accelerate its global recruitment and growth to meet increasing customer demand across Europe, Asia-Pacific, and the US.
Manufacturers worldwide are facing immense challenges. The demand for enhanced performance, safety, and sustainability is rising, while pressures to reduce costs and quicken innovation are intensifying. Neural Concept addresses these issues by enabling engineering teams to develop superior products more rapidly using AI.
Founded in 2018 and based in Lausanne, Switzerland, Neural Concept employs over 60 people across Switzerland, Germany, and the US. The company leads in 3D Deep Learning for product engineering teams in the Automotive, Micro-electronics, Aerospace, and Energy sectors. More than 60 Original Equipment Manufacturers, including Airbus, Bosch, General Electric, Subaru, and four out of ten Formula 1 racing teams, depend on Neural Concept’s platform to integrate Engineering Intelligence into their product development processes.
The platform combines Neural Concept’s proprietary technology with advanced data analysis, MLOps, and application deployment capabilities to make Engineering Intelligence central to product simulation and development. It significantly enhances collaboration among data science, simulation, and design teams, thereby boosting innovation. Neural Concept has demonstrated the ability to reduce end-to-end product development times by up to 75%, speed up product simulation by up to 10 times, and improve product characteristics such as efficiency, safety, speed, and aerodynamics by up to 30%.
This Series B funding announcement follows a recent technical collaboration with NVIDIA, enabling Neural Concept to optimize the performance of physics-driven deep learning models on NVIDIA GPUs and CUDA software, and jointly push the boundaries of the field.
Deborah Pittet, Senior Principal at lead investor Forestay Capital, said, “Neural Concept has pioneered 3D Deep Learning – the cutting edge of AI – and shown incredible traction and results with customers across various industries globally. We are thrilled to partner with the company’s visionary team and lead this significant Series B round, which will accelerate its global growth and transform the way engineering companies develop and design products.”
Jean Nations from the D. E. Shaw group commented, “We are excited to join Neural Concept on this journey and support its growth. We believe Neural Concept can significantly accelerate product engineering teams in bringing products to market, as evidenced by the numerous global manufacturers already using its innovative platform. This funding positions Neural Concept to extend Engineering Intelligence to many more companies.”
Pierre Baqué, Co-founder and CEO of Neural Concept, stated, “The world faces unprecedented global challenges that urgently require innovative engineering solutions. Engineering teams are under immense pressure to deliver smarter, safer, and more sustainable products faster – requiring a fundamentally new approach. Neural Concept empowers Original Equipment Manufacturers to place cutting-edge 3D Deep Learning and Generative AI at the core of their product development, enhancing collaboration and processes while identifying innovative solutions. We are excited to partner with our new investors, Forestay Capital and the D. E. Shaw group, and all our existing investors to elevate the company further. This $27 million Series B funding round will enable us to build on our commercial success and help more OEMs globally harness the full potential of Engineering Intelligence to deliver superior products faster.”
Watch the video to learn more about Neural Concept and Engineering Intelligence:
