Neurala, a Boston-based software company that focuses on making robots, drones, consumer electronics, toys and smart devices more intelligent, has closed $14 million in Series A funding.
The round was led by Pelion Venture Partners and included participation from Sherpa Capital, Motorola Solutions Venture Capital, 360 Capital Partners, Draper Associates Investments, SK Ventures, and Idinvest Partners through its Electranova Capital II Fund and in partnership with Ecomobility Ventures. Both 360 Capital Partners and Draper Associates also provided seed funding.
Neurala, developer of The Neurala Brain and the Selfie Dronie flight app, says its customers include Teal Drones and Parrot.
Neurala’s neural network software uses a bio-inspired approach to mimic the way the human brain learns and analyzes its environment. This software enables a variety of smart products, including drones, to learn, adapt and interact in real time, the company explains.
With The Neurala Brain, toys can learn to identify their owners, security cameras can identify specific threats, drones can learn how to diagnose problems at the tops of cell towers, and self-driving cars can be safer and learn to avoid obstacles.
“The Neurala Brain was designed from the beginning to transform industries,” says Massimiliano “Max” Versace, co-founder and CEO of Neurala. “Bio-inspired brainpower can be built right into drones, cars, toys, cameras and other devices found in the home so that they can learn, see and act. This is essential for applications like drones and self-driving cars, where reaction time is critical and where you can’t always get fast network access.”