High-tech Grunderfonds and Constantia New Business continue to support Neural Concept’s mission of setting a new standard in the simulation industry with its disruptive Deep-Learning algorithm. With additional funding, the startup also announced a new advisory board.
Neural Concept developed the first 3D Deep Learning Software dedicated to Computer-Assisted Engineering and Design. The company’s core technology involves 3D convolutional networks that learn to predict the output of physical simulations or experiments based on the input of shape’s geometrical properties. They can be used as complements to the traditional numerical simulation and experimental methods to alleviate the need for actual simulations or experiments along the conception pipeline. This dramatically accelerates and reduces the cost of the design process. Various companies, including Airbus, Bosch, Nvidia, SenseFly, Safran, and ESA, already use the technology.
The startup has secured seed-extension capital from Constantia New Business and High-Tech Grunderfonds to support the next growth stage. The proceeds will also enable fine-tuning its products towards the sector of automotive suppliers. The two investors already led the seed-funding 18 months ago.
Formation of a new advisory board
In concert with this fundraising, the company is announcing a new Advisory Board, which complements its existing Board of Directors. The new members, Evrard Van Zuylen (Co-founder and Managing Director of darts-ip) and Roberto Schettler (CEO of Realtime Technology), bring significant experience in founding, growing and managing successful B2B software companies in the Machine Learning and Engineering Design spaces.
"Neural Concept has initiated a new world of simulation! Deep learning will not only speed up and democratize simulation across all fields of design and engineering, but I am also convinced that it will finally enable iterative design for better products at a lower cost. Instead of seeing it as a vision only, companies can bring this to life with Neural Concepts software products," said Schettler.
“These two announcements are two major steps for Neural Concept. We are delighted to receive the continued trust of our investors. Furthermore, we are more than proud to onboard such visionary leaders as Evrard and Roberto. They bring very complementary experiences and skills. The first months of joint work proved that they could transmit their immense value to our relatively young management team. The right alchemy seems to have been found to build solid grounds for our future,” Pierre Baquй, Co-founder and CEO, Neural Concept.
For the coming year, Neural concept will work towards its goal of strengthening the position of its software as the go-to solution for any company wanting to redefine how quickly new and better designs can be put in production. In particular for automotive suppliers.
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