Seed28 February 2022

NeuralSpace secures £1.2m in seed funding to expand its natural language processing platform

The seed round was led by Merus Capital with participation from APX, Techstars, Verissimo, and angel investors.

£1.2MSeed

NeuralSpace develops voice and text artificial intelligence models tailored for locally spoken and low-resource languages across Asia and Africa. Its platform provides developers with modular natural language processing tools that operate without requiring machine learning expertise.

NeuralSpace has secured £1.2m in a seed funding round led by Merus Capital to expand its natural language processing platform. The capital will support the company as it scales its developer toolkit and introduces new speech models for numerous local languages. Additional backing for the round came from APX, Techstars, Verissimo, and a selection of angel investors.

The London-based company offers a no-code platform designed to help developers implement features such as natural language understanding, machine translation, and speech recognition without needing prior machine learning experience. David Rangel of Merus Capital has joined the company board as part of the investment.

From the founder

"training latest deep learning models accurately on very small data sets, which any local, low-resource language usually suffers from, is a very challenging task because models are usually designed to perform well in English with terabytes of available text and speech data but not in languages with a few hundred megabytes of data."

Felix Laumann

CEO at NeuralSpace

Investor perspective

"As more and more people around the globe get access to online services, everything from e-commerce to financial services, they will want to be served and supported in their native languages. NeuralSpace is in a position to be the key provider of NLP technologies for all these underserved languages, services and populations."

David Rangel

General Partner, Merus Capital