ast year, Neurolabs was awarded the title of Best Innovation Startup in the How To Web event in Bucharest. Fast forward a few months, and the same startup was able to secure a big investment that’s meant to serve their expansion.
Neurolabs is a machine learning startup that’s building an object recognition software.
“Neurolabs is pioneering the use of synthetically generated data to develop object recognition models in a drastically cheaper and faster way than the traditional approach, pushing the accuracy beyond-human levels.”
They use 3D models to generate virtual data, which is then used to train deep learning models. Basically, they use the power of machine learning and 3D models to create easier and cheaper object recognition.
And they’ve been doing well for themselves so far. Their system can be used to power:
- Autonomous checkout lines in stores
- Localisation and controls in Robotics
- Utensils inventory in healthcare
- Crop grading and sorting in agriculture
- Quality control in manufacturing
- Sorting systems for recycling
They have offices in Cluj-Napoca and Edinburgh, and they’re ready to expand even more. In this round of investments, Lunar Ventures, Techstars Ventures and 7percent pledged the 1 million euros to help Neurolabs grow.
“I want to thank our team for the work they output so that we could be here today. Like all companies, we’ve faced a lot of struggles when the pandemic hit, but we were able to overcome all challenges thanks to the involvement of each and every colleague. From now on, we’ll be supported by a large group of investors that truly understand the vision behind our technology.” - Paul Pop, Neurolabs CEO.
And it does look like they found the best people to help support Neurolabs’ mission.
“We are technical investors, partnering with technical founders, who are building at the intersection of DeepTech and software. Our mission is to help you turn your sci-fi ideas into working products.” - Lunar Ventures
But what Neurolabs is building…
Is part of a much larger tech revolution, going on for a few years now.
And we can expect a lot from it, so let’s delve deeper.
What is Machine Learning?
Machine learning is all around you.
Netflix uses it to recommend shows.
Youtube and Facebook use it to build their feeds.
Basically all tech giants employ some sort of machine learning solution for their customer-facing interface.
But how does it work?
Machine learning algorithms use statistics to find patterns in massive sets of data. Using those findings, which no human could dream of manually analyzing in a life-time, machine learning software can draw conclusions about users and objects, in certain parameters.
The best part?
Those sets of data don’t have to be numbers in a spreadsheet. Machine learning can work with words, images, clicks, and in the case of Neurolabs, with synthetic models.
The reason for machine learning’s success is the fact that it allows us to see beyond human comprehension.
Think about all the interactions you have on Facebook in a year: all the likes, shares, the content you lingered on but didn’t quite interact with…
And multiply that by 2.6 billion.
That’s the power of Machine learning.
That’s what Neurolabs is harnessing.