Public announcements or press releases from Neural Concept or the EV manufacturer, industry news

Swiss Startup Neural Concept Raises USD27 Million to Cut EV Design Time to 18 Months

Jun 4, 2024, 06:33 AM

Swiss startup Neural Concept has raised USD27 million to accelerate the design process for electric vehicles (EVs). The funding aims to reduce the EV design time to just 18 months. Neural Concept, which originated from EPFL, uses machine learning-powered 3D product design software to achieve these advancements. The investment round was led by Forestay Capital, D.E. Shaw Group, Alven Capital, and High-Tech Gründerfonds (HTGF). The company plans to use the funds to further accelerate its global growth. This development was covered in a TechCrunch article by Mike Butcher.