Neurolabs secures £2.8m seed investment led by LAUNCHub Ventures to scale operations.
The seed round was led by LAUNCHub Ventures with participation from Lunar Ventures, Techstart, and 7% Ventures.
Neurolabs builds enterprise image recognition software that uses synthetic data to help consumer goods brands monitor retail inventory. The company operates from London and was established by computer scientists.
Edinburgh-based synthetic computer vision startup Neurolabs has secured £2.8m in a seed financing round led by Southeastern Europe specialist fund LAUNCHub Ventures. The capital injection also drew participation from Berlin-based Lunar Ventures, Techstart, and London's 7% Ventures.
Neurolabs intends to channel the fresh funds into scaling its operational capacity and broadening its product application range for consumer packaged goods sectors. The company has spent over two years perfecting its generative synthetic data process and currently counts French retailer Auchan among its clients.
From the founder
"We are amassing the largest 3D product repository in retail, aiming to reach over 100,000 products this year. The sky’s the limit: a streamlined process of adding any existing product to our database in minutes is in place,"
Paul Pop
CEO at Neurolabs
Investor perspective
"It’s obvious that synthetic data is the most efficient way to train your algorithms and quickly develop computer vision applications,"
Stan Sirakov
General Partner, LAUNCHub Ventures
Use of funds
- 01Scale operations
Investors
Categories
About the company
Neurolabs
Neurolabs provides visual artificial intelligence technology for consumer goods supply chains.