Neural Concept’s AI technology is revolutionizing electric vehicle development with $27 million in funding, gaining the attention of industry leaders like Airbus and Bosch.

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As competition from Chinese manufacturers intensifies and the electric vehicle (EV) market stalls, major U.S. and European auto companies are urgently seeking ways to reduce the cost of producing EVs.

Their goal is to match the price tags and profit margins of traditional internal combustion engine (ICE) cars.

To achieve this, they must streamline and accelerate the design process.

Neural Concept: Pioneering AI in EV Design

A groundbreaking company, Neural Concept, has emerged as a key player in addressing this challenge.

Spun out from the Swiss Federal Institute of Technology in Lausanne (EPFL), Neural Concept has secured $27 million in a Series B funding round.

The company’s mission is to apply artificial intelligence (AI) to revolutionize the design and development of EV components.

Transforming Design with AI

Neural Concept leverages deep learning in a 3D environment, combining data analysis with machine learning to dramatically speed development times.

Their platform can reduce product simulation times by up to 10 times and accelerate overall development by up to 75%.

This technology is pivotal for the automotive industry and has applications in micro-electronics, aerospace, and energy sectors.

Pierre Baqué, co-founder and CEO of Neural Concept, elaborated on the platform’s capabilities:

“Let us say I have a design for a battery, and I would like it to perform better to increase its thermal efficiency. Our software will suggest improvements, making it more efficient because it understands the properties of the materials.”

Real-World Applications and Industry Collaborations

Neural Concept’s innovative technology is already in use by major industry players such as Airbus, Bosch, General Electric, Mubea, Subaru, and several Formula 1 racing teams.

Additionally, the company is collaborating with NVIDIA to optimize its GPUs and CUDA software, further enhancing the platform’s performance.

Baqué believes that Neural Concept’s platform could reduce the development time of an EV from four years to just 18 months, a significant breakthrough in the industry.

Strategic Funding and Expansion Plans

Forestay Capital led the Series B funding round, which included participation from existing investors Alven, Constantia New Business, HTGF, Aster Group, and D.E. Shaw Group.

This follows a $9 million Series A in March 2022 and a $2 million seed round in 2020. The new funds will recruit talent and expand Neural Concept’s operations into Europe, APAC, and the U.S.

Deborah Pittet, senior principal at Forestay Capital, said in a statement:

“Neural Concept has pioneered 3D Deep Learning—the leading edge of AI—and demonstrated phenomenal traction and results with customers in various industries worldwide.”

Facing Industry Giants

Neural Concept faces competition from larger component simulation companies like ANSYS, which is also venturing into the deep learning space.

However, Neural Concept’s innovative approach and rapid development capabilities provide a competitive edge, positioning the company as a leader in this emerging field.