Neurolabs Secures £6m for Visual AI Retail Transformation
Deal News | Apr 23, 2025 | Business Cloud
London-based deep-tech company Neurolabs has successfully raised £5.9 million in a Series A funding round led by Nauta, bringing their total funds raised to over £9 million. Neurolabs aims to redefine the retail execution space by offering enterprise-level Image Recognition as a Service (IRaaS), utilizing visual AI to transform the manner in which consumer packaged goods (CPG) brands capture and utilize in-store data. The innovation has demonstrated substantial improvements for CPG brands, notably reducing operational costs by up to 32% and drastically decreasing product onboarding time by 93%. This latest funding will enable Neurolabs to accelerate its vision of applying synthetic data and visual AI to tackle inefficiencies within CPG supply chains, estimated at $800 billion. Their platform already sets a new standard for retail image recognition, and the investment will help the company strengthen its commercial presence in the UK, Europe, and the US. Paul Pop, CEO of Neurolabs, emphasizes the company's growth in its computer vision engineering team and its expanded global impact, supported by Nauta's endorsement of the company's technological prowess and commercial successes.
Sectors
- DeepTech
- Consumer Packaged Goods (CPG)
- Retail Technology
- Artificial Intelligence
Geography
- United Kingdom – Neurolabs is based in London, UK, and is focusing some of its efforts on enhancing its commercial footprint in the UK market.
- Europe – Neurolabs is planning to expand its impact across various European markets with this new funding.
- United States – The funding will also aid Neurolabs in deepening its presence and expanding its commercial operations in the US market.
Industry
- DeepTech – Neurolabs operates in the DeepTech sector, focusing on advanced technologies such as visual AI and image recognition to solve real-world problems for CPG brands.
- Consumer Packaged Goods (CPG) – The applications of Neurolabs' technology notably target the Consumer Packaged Goods industry, aiming to improve operational efficiencies and data utilization within this sector.
- Retail Technology – Neurolabs provides innovative technology solutions tailored for the retail sector, enhancing inventory management and data insights through image recognition AI.
- Artificial Intelligence – The core of Neurolabs' service is based on artificial intelligence, particularly focusing on image recognition technology with synthetic data integrations.
Financials
- £5.9 million – Amount raised by Neurolabs in its Series A funding round led by Nauta.
- £9 million – Total funding raised by Neurolabs to date, including the latest investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Neurolabs | Target Company | Company | A London-based DeepTech firm specializing in enterprise-level Image Recognition as a Service (IRaaS). |
| Nauta | Investor | Company | A venture capital firm leading the £5.9m Series A funding round for Neurolabs. |
| Paul Pop | Co-founder and CEO, Neurolabs | People | CEO of Neurolabs, guiding the company's vision to scale its visual AI solutions globally. |
| Innovate UK | Grant Provider | Government | Supported Neurolabs with a grant to develop a quantum testbed. |
| Carles Ferrer | General Partner, Nauta | People | A General Partner at Nauta, who expressed excitement about backing Neurolabs' technological advancements. |