Deep tech company Neurolabs has closed a $7.8m Series A funding round, led by pan-European venture capital firm Nauta.
The investment is set to accelerate Neurolabs’ mission to transform how consumer packaged goods (CPG) brands capture and act on in-store data.
The round had participation from existing investors including LAUNCHub, Lunar Ventures and Techstart and marks the company’s third funding round; bringing total investment to over $12m.
“This funding accelerates our vision: applying synthetic data and Visual AI to solve the $800bn problem of inefficiencies in CPG supply chains,” said Paul Pop, co-founder and chief executive of Neurolabs.
“We’re growing our computer vision engineering team and deepening our commercial footprint across the UK, European and US markets. Our platform is already a new benchmark for retail image recognition – this investment enables us to scale that impact globally.”