London-based startup Neurolabs, which uses synthetic data to power computer vision for automated object recognition, has raised $7.8 million in a Series A funding round led by Nauta, with support from LAUNCHub, Lunar Ventures, and Techstart, as Vestbee was told.
- Established in 2018 by Patric Fulop, Paul Pop, and Remus Pop, Neurolabs develops synthetic image datasets and computer vision models for object recognition in the Consumer Packaged Goods (CPG) industry.
- The company builds 3D representations of products and generates synthetic images under varied conditions to train its visual recognition systems.
- These models are used in field operations, where users capture shelf images with mobile devices. The system processes the images to detect products, verify their placement, and compare them against reference layouts. It then outputs structured shelf data, reducing the need for manual audits.
Details of the deal
- The Series A round was led by Nauta, a London-based venture capital firm managing over €550 million in assets, supporting B2B companies in sectors such as retail tech, revenue tech, fintech, insurtech, productivity, health tech, enterprise software, dev tools and infrastructure, AI/ML and data, security and privacy, and deep tech.
"This commercial traction, combined with the strength of the technology and the team, has really impressed everyone at Nauta. We're excited to back Neurolabs at this pivotal stage," General Partner at Nauta, Carles Ferrer, commented in a press release.
- The fresh funding will enable the startup to expand its engineering team, grow its presence in the UK, Europe, and the US, and scale its platform globally.
"This funding accelerates our vision: applying synthetic data and Visual AI to solve the $800 billion problem of inefficiencies in CPG supply chains, We're growing our computer vision engineering team and deepening our commercial footprint across the UK, European and US markets," claims Paul Pop, co-founder and CEO of Neurolabs.
