Neurolabs Secures $7.8M to Revolutionize Retail Image Recognition

London-based deeptech startup Neurolabs announced the successful raise of $7.8 million in Series A funding to enhance its Image Recognition as a Service (IRaaS) platform. Led by Nauta Capital with support from LAUNCHub, Lunar Ventures, and Techstart Ventures, this financing highlights growing investor confidence in Neurolabs' ability to transform in-store retail operations. Founded in Edinburgh in 2018, Neurolabs leverages computer vision and synthetic data generation to offer consumer packaged goods (CPG) brands a cost-effective, scalable solution to traditional manual audits by instantly analyzing shelf images taken by field teams. Emphasizing the potential for synthetic data to efficiently train AI models, Neurolabs has cut operational costs by 32% and reduced onboarding time by 93% for clients, including notable beverage companies. With the new funding, Neurolabs aims to deepen its market reach in the UK, Europe, and the US, addressing inefficiencies in CPG supply chains worth an estimated $800 billion. Carles Ferrer from Nauta praised the startup’s innovative application of AI and synthetic data in retail, foreseeing substantial growth and scaling opportunities. To date, Neurolabs has raised over $12 million, continuing to target CPG giants and emerging technology platforms.