Neural Concept, a Swiss-based AI software company, has secured $27 million in a Series B financing round led by Forestay Capital, with participation from the D. E. Shaw Group and existing investors. The company, founded in 2018 as a spin-off from the Swiss Federal Institute of Technology in Lausanne (EPFL), aims to significantly reduce the development time of electric vehicles (EVs) from four years to just 18 months.
Pierre Baqué, co-founder and CEO of Neural Concept, highlighted the impact of their platform on design processes, stating, “Our software will suggest some improvements on how to make it more efficient because the software is aware of the property of the materials.” This capability allows for faster and more efficient development cycles, crucial for automakers seeking to compete in the rapidly evolving EV market.
With more than 60 OEMs already utilizing Neural Concept’s platform, including major players like Airbus, Bosch, General Electric, and several Formula 1 teams, the company is poised for further growth. Deborah Pittet from Forestay Capital praised Neural Concept’s advancements, 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.”
The funding will enable Neural Concept to expand its technological leadership and accelerate global recruitment efforts to meet increasing demand across Europe, Asia-Pacific, and the US. This development signifies a major step forward in the automotive industry’s transition to electric vehicles, driving innovation and efficiency in vehicle design and development.
