Through its engineering intelligence platform, Neural Concept provides 3D deep learning for product engineering teams in the automotive, micro-electronics, aerospace, and energy industries. The company recently raised $27 million in a Series B funding round. (Graphic: Business Wire)
More than 60 OEMs rely on Neural Concept’s platform, said to reduce end-to-end product development times by up to 75 percent.
LAUSANNE, Switzerland—For manufacturers globally, the need for improved performance, safety, and sustainability is increasing while pressure to reduce costs and accelerate innovation continues to rise. Neural Concept, the developer of an engineering intelligence platform that is said to transform product design with 3D deep learning, is working to solve these challenges by empowering engineering teams to develop better products faster using artificial intelligence (AI), the company said in a release.
Through its platform, Neural Concept provides 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 10 Formula 1 racing teams are reported to rely on Neural Concept’s platform to “place engineering intelligence at the heart of their product development process,” according to the release.
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 is said to dramatically improve collaboration across data-science, simulation, and design teams to enhance and accelerate innovation.
“Neural Concept is proven to reduce end-to-end product development times by up to 75 percent; accelerate product simulation by up to 10 times; and improve product characteristics, including efficiency, safety, speed, and aerodynamics, by up to 30 percent,” the company said in the release.
In June, Neural Concept reported that it raised $27 million in a Series B funding round, led by Forestay Capital. The D. E. Shaw group and existing investors Alven, CNB Capital, HTGF, and Aster Group also participated. Neural Concepts said the funds will be used to consolidate the company’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 U.S.”
The Series B funding 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, the release 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,” said Deborah Pittet, senior principal at lead investor Forestay Capital, in the release. “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.”
Neural Concept Co-founder and CEO Pierre Baqué 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.”