Neurala plans to use the funds to scale its AI platform and expand applications in industrial manufacturing. Here are the top-line bullets you need to know.
Neurala, a vision AI software developer, has raised $12M in a Series B with participation from Zebra Ventures, Pelion Venture Partners, 360 Capital Partners, and IDInvest Partners, among others.
How’s the company performing?
- Boston-based Neurala’s Vision Inspection Automation (VIA) software solution help manufacturers improve quality inspection processes. The company recently launched “Neurala Europe,” a subsidiary in Trieste, Italy.
- The company works alongside several OEMs such as Investors IMA, IHI Logistics & Machinery, and FLIR among others.
Why does the market matter?
- The AI in the manufacturing market is projected to grow at a CAGR of 57.2% and reach a value of $ 16.7B by 2026, according to Markets and Markets.
- Growing AI adoption and the evolution of industrial IoT have contributed to the industry’s growth.