Neural Concept SA, a Lausanne, Switzerland-based provider of cloud-based simulation software dedicated to Computer Assisted Engineering and Design, raised a seven-digit funding round.
Backers included Constantia New Business and HTGF.
The company intends to use the funds to continue to expand operations and its business reach.
Founded in the spring of 2018, Neural Concept provides a deep learning cloud-based simulation software solution dedicated to Computer Assisted Engineering and Design. The software allows clients to speed up development cycles, enhance product performance and reduce computational costs.
The startup is a spin-off from EPFL’s computer vision laboratory where the founding team developed the fundamental technology. The company has also been supported by the Venture Kick support scheme.
It is led by CEO Pierre Baqué, who holds a PhD in Artificial Intelligence from EPFL (Lausanne) and graduated from Ecole Polytechnique (Paris), and CTO Timur Bagautdinov, who holds a PhD in Artificial Intelligence from EPFL.
Prof. Pascal Fua, head of the EPFL Computer Vision Lab (CVLab), and Dr. François Fleuret, head of the Machine learning group at IDIAP research institute and deep learning lecturer at EPFL, are also founding members of Neural Concept.