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Swiss Startup Neural Concept Raises $27M

The promise of efficiency and accelerated innovation, Neural Concept is poised to transform industries across the board
June 4, 2024

As competition from Chinese rivals heats up and the electric vehicle (EV) market faces challenges, major U.S. and European automakers are on a mission to slash production costs of EVs, aiming to match the affordability and profit margins of internal combustion engine (ICE) cars. To achieve this, they must streamline and accelerate the vehicle design process.

Enter Neural Concept, a company born out of the Swiss Federal Institute of Technology in Lausanne (EPFL), which recently secured $27 million in a Series B funding round. Their goal? To harness the power of AI to address this critical industry pain point.

In essence, Neural Concept empowers designers to predict how components will perform even before they are manufactured. Gone are the days of merely conceptualizing a design; now, it's imperative to understand how a component will function within the larger context, such as an engine. This is where Neural Concept's platform shines.

Utilizing deep learning within a 3D environment, Neural Concept merges data analysis with machine learning to dramatically accelerate development times by up to 75% and boost product simulation speeds by as much as 10 times.

While initially focused on automotive applications, Neural Concept's technology has vast potential across various sectors, including microelectronics, aerospace, and energy. By offering a sophisticated solution to enhance design efficiency, Neural Concept is poised to revolutionize multiple industries, helping companies innovate faster and stay ahead of the curve.

Already, Neural Concept's platform is making waves, with a client roster that includes industry heavyweights like Airbus, Bosch, General Electric, Mubea, Subaru, and four Formula 1 racing teams. The company is also collaborating with NVIDIA to optimize their GPUs and CUDA software, further enhancing their capabilities.

Led by Forestay Capital, Neural Concept's Series B round saw participation from existing investors Alven, Constantia New Business, HTGF, and Aster Group. This funding injection, following a successful Series A and seed round, will fuel the company's growth, facilitating recruitment efforts and expansion into Europe, APAC, and the U.S.

Deborah Pittet, senior principal at Forestay Capital, expressed confidence in Neural Concept's pioneering work, stating, "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."

With AI-driven innovation at its core, Neural Concept is poised to redefine the design landscape, accelerating the development of next-generation vehicles and driving technological progress across industries.

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