Neural Concept, a Lausanne, Switzerland-based Engineering Intelligence platform, has raised $27 million in Series B funding.
Investors
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.
Founded in 2018, Forestay is an early-growth stage tech fund and part of B-FLEXION, an entrepreneurial private investment firm. 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.
Neural Concept Use of Funds
The company will use the funds to accelerate its global recruitment and growth to meet strong customer demand across Europe, Asia-Pacific, and the US.
About Neural Concept
Neural Concept provides an Engineering Intelligence platform that transforms product design using 3D Deep Learning. The company leverages AI to help engineering teams develop better products efficiently and quickly. Founded in 2018 and headquartered in Lausanne, Switzerland, Neural Concept serves various industries including automotive, microelectronics, aerospace, and energy. The platform is trusted by over 60 Original Equipment Manufacturers (OEMs) globally, including major names like Airbus, Bosch, General Electric, and Subaru.
Funding Details
Company: Neural Concept SA
Raised: $27.0M
Round: Series B
Funding Month: June 2024
Lead Investors: Forestay Capital
Additional Investors: D. E. Shaw Group, Alven, CNB Capital, HTGF, Aster Group
Company Website: https://www.neuralconcept.com/
Software Category: Engineering AI
Source: https://www.businesswire.com/news/home/20240531755430/en