Deep learning neural networks platform and software startup Neurala recently announced that it had closed a $14 million Series A venture funding round led by Pelion Venture Partners. Additional participants in the Series A included Sherpa Capital, Motorola Solutions Venture Capital and 360 Capital Partners, among others. This latest round brings Neurala’s to-date funding to $16 million.
Ben Lambert, senior associate of Pelion Venture Partners, was quoted as saying, “Neurala’s executives have a deep technology background and have been leading development efforts in this industry since 2006. As a result, the company is far ahead of its competitors and is at the forefront of the deep learning and computer vision space.”
Neurala’s main product, the Neurala Brain, is a deep learning artificial intelligence platform used in smart consumer products, including toys, cameras, drones and self-driving cars. The Neurala Brain was formulated on technology that was originally developed for use by NASA and the U.S. Air Force.
The technology Neurala has developed is reported to have been developed based on how the human brain works and processes information — allowing products to learn autonomously and provide actionable information from their cameras and sensors in real time.
Neurala plans use to use the Series A capital to accelerate service to its growing customer base as well as continue to innovate in the areas of built-in intelligence and autonomous behavior for consumer products.
Massimiliano “Max” Versace, cofounder and CEO of Neurala, was quoted as saying, “The Neurala Brain was designed from the beginning to transform industries. Bio-inspired brainpower can be built right into drones, cars, toys, cameras and other devices found in the home so that they can learn, see and act. This is essential for applications like drones and self-driving cars, where reaction time is critical and where you can’t always get fast network access.”