HTGF and Consantia Industries have pumped funding into EPFL spinout Neural Concept, which believes its deep learning technology will reduce lead times for manufacturers of physical goods.
Neural Concept, a Switzerland-based computer-assisted engineering and design software creator spun out of École polytechnique fédérale de Lausanne (EPFL), has attracted a seven-figure euro (€1m = $1.1m) sum in a round backed by public-private partnership High-Tech Gründerfonds.
The round also featured Constantia New Business, the investment arm of industrial conglomerate Constantia Industries.
Founded in 2018 as a spinout from EPFL’s computer vision laboratory, Neural Concept has created a computer-assisted engineering and design software platform that relies on deep learning algorithms to simulate the aerodynamic performance of physical goods in the naval, aerospace, additive manufacturing and energy segments.
Manufacturers use both computer-assisted engineering and computer-assisted design to map out the optimal structure and physical profile for the goods they plan to produce.
As such, Neural Concept’s deep learning capabilities should help clients enhance product performance and reduce the lead times of each development cycle. The capital will go towards expanding Neural Concept’s operations as it attempts to extend the reach of its business.
Neural Concept’s co-founders include Pascal Fua, professor and head at EPFL’s computer vision lab, François Fleuret, the lead for machine learning at EPFL’s L’Idiap lab, which is an affiliate of the independent nonprofit Idiap Research Institute.
Pierre Baqué, a PhD graduate of EPFL who leads Neural as chief executive, also helped start the company, together with Timur Bagautdinov, another PhD graduate who now acts as chief technology officer.
