Neurala, Emerging Leader in AI Technology, Closes Record-Breaking Year With Continued Growth and New Accolades
One of Boston’s Most Disruptive AI Tech Companies Doubled the Number of Customers, Tripled the Number of Employees and Raised $14M in 2017
BOSTON—January 24, 2018—Deep learning neural networks company Neurala today announced a record-breaking year that included a well-publicized $14 million Series A funding round, significant customer and talent gains, local and global expansion, multiple industry award wins, and increased technological offerings in the drone, autonomous vehicle, security and inspection spaces.
Neurala is the company behind The Neurala Brain—deep learning neural network software that makes smart products like cameras, robots and drones more autonomous and useful. Neurala uses a bio-inspired approach to mimic the way the human brain learns and analyzes its environment. Unlike traditional AI companies whose solutions are designed for supercomputers connected to the internet, Neurala’s first project was for NASA for autonomous planetary exploration, so the company’s deep learning neural networks (DNN) had to be lightweight and perform in real time without ground intervention. Neurala’s DNN software can operate locally “on the edge” and features patent-pending edge-learning technology, called Lifelong-DNN.
“Neurala began as a deeply academic, research-focused company and—in the last year especially—has transformed into a customer-focused product company ready to transform industries,” said Massimiliano “Max” Versace, co-founder and CEO of Neurala. “2018 will be the year for learning on the edge and building a super brain. We are excited to be leading the charge and look forward to our continued growth and to providing opportunities for Boston’s AI talent.”
In 2017, Neurala continued its tremendous growth and celebrated many notable milestones:
- Raised $14 million in Series A funding
- Added important new employees in engineering, marketing and sales, doubling the AI engineering team and tripling the total number of employees
- Moved into a new 8,000-square-foot headquarters in Boston
- Opened a satellite office in Silicon Valley
- Doubled the number of customers, adding Motorola Solutions as an investor and customer, as well as Flex, Aerialtronics and more
- Released significant new capabilities, including patented edge learning technology, Lifelong-DNN
- Gave thought leadership talks at AI World, InterDrone, AUVSI, GTC, Forrester and TechCrunch
- Named one of the 100 most disruptive companies in the world by Disruptor Daily
- Named one of the top 100 AI companies by CB Insights
- Named one of the top 10 most innovative and promising digital initiatives by Netexplo in partnership with UNESCO
- Won a Defense Innovation Summit TechConnect Defense Innovation Award
- Co-founder and COO Heather Ames Versace named a top woman in cloud innovation by CloudNOW
- Nominated for Softech INTL’s Cognitive Computing, AI & Robotics Award and placed as a finalist in awards from MassTLC “Cutting Edge Technology of the Year,” BostInno “50 on Fire,” Timmy Awards “Best Technology Workplaces for Diversity,” and BostonFest “Coolest Company”
“Neurala caught my attention early on as a company whose versatility and flexibility would position it for great success,” said Shervin Sabripour, CTO of Motorola Solutions. “The Neurala team has the unique ability to stretch their technology past the status quo and produce highly competitive, high-end solutions.”
Neurala, Inc. developed The Neurala Brain—deep learning neural network software that makes smart products like robots, drones and smart cameras more autonomous, engaging and useful. Neurala provides customized solutions ranging from high-end applications to inexpensive everyday consumer products. With the Neurala Brains for Bots Software Development Kit (SDK) and an ordinary camera, products can learn people and objects, recognize them in a video stream, find them in the video, and track them as they move. The Neurala Brain is based on technology originally developed for NASA and the U.S. Air Force. Follow Neurala on Twitter at @Neurala and on Facebook, YouTube and LinkedIn.