Romanian startup Neurolabs completes $1.1 million funding round

Neurolabs, an early-stage Computer Vision startup, has completed a $1.1  million pre-seed funding round led by Lunar Ventures and Techstart Ventures alongside with participation from 7percent Ventures, ID4 Ventures, Charles Songhurst, and Andreas Wiese. Neurolabs has raised a total of $1.3M in funding over 3 rounds, Crunchbase reports.

Neurolabs was established in September 2018 by a technical team of computer scientists and mathematicians, among them:  the CEO Paul Pop, CTO Patric Fulop, and COO Remus Pop. Their company builds a Computer Vision platform allowing users to build custom image recognition algorithms using 3D models. The company’s vision is simple: democratize Computer Vision by breaking down the barriers to adoption.

Neurolabs is an early-stage Computer Vision start-up, establishing the use of synthetically generated data to develop object recognition models in a drastically cheaper and faster way than the traditional approach. So, the raised funds will be spent on further development.

Paul Pop, Neurolabs’ CEO, said:

“I want to thank our team for the hard work they’ve put in to get us where we are today. Like most companies, we’ve hit a rough patch at the start of the pandemic and we wouldn’t have made it without each and every individual contribution. From this day forward, we’ll be backed by a great group of investors that understand at a deep level the vision behind our technology.”