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| - Today, Neurala, the leader in vision AI software, announced the launch of its European subsidiary, Neurala Europe, based in Italy. By establishing a presence in Europe, Neurala is advancing its efforts in the industrial space, bolstering on-the-ground expertise and support for its European partners, VARs and manufacturing customers as the industry increasingly prioritizes AI and automation as a part of Industry 4.0 initiatives. Backed by Friulia S.p.A., an investment firm based in Trieste, Italy, and AddValue, an investment firm based in Milan, Italy, the new subsidiary will solidify Neurala's global footprint and position the company as a catalyst for growth of industrial and manufacturing innovation outside of the United States. Neurala is already working with global strategic partners, including IMA Group, Antares Vision, FLIR Systems and IHI Logistics and Machinery, as well as several European systems integrators. "As the world begins to reopen, manufacturers need cost-effective solutions that can be easily deployed and can scale to meet fluctuating consumer demands that have become the norm over the last year," said Max Versace, CEO and co-founder of Neurala. "This new venture will enable Neurala to address that need by working closely with local partners and our team on the ground to bring vision AI onto industrial machines, cameras, and production lines." "In many ways, this is a homecoming for me, and for Neurala," Versace continued. "I was born and raised in the Friuli region and have always had a connection to Italy. Naturally, I am thrilled to officially extend the bridge between Italy and the United States. With the launch of Neurala Europe, my hope is that we are able to marry Neurala's AI expertise with Europe's drive for industrial innovation." "As one of Neurala's strategic partners, we have seen firsthand the impact of the company's vision AI software and innovation in the industrial space," said Dario Rea, Director of Corporate Research & Innovation, IMA Group. "The addition of a European subsidiary will put Neurala on the ground, in Europe, so that they can continue to develop relationships with local partners and distributors, making them even more competitive at a global scale, and increasing their ability to share this game-changing technology with key players in Europe and beyond." As part of the Neurala Europe launch, the company will hire sales, software engineering and research personnel based out of Italy, to help meet the growing demand for AI in manufacturing and visual inspections. Neurala Europe will be managed by Versace and by Daniel Glasser, Neurala's VP of Client Operations, who will join the Board of Neurala Europe and oversee day-to-day operations. About Neurala Neurala is a pioneer in vision AI software. On a mission to make AI more applicable and useful in real-world applications, Neurala helps industrial companies improve their quality inspection process, with technology that dramatically reduces the time, cost and skills required to build and maintain production-quality custom vision AI solutions. Founded in 2006, Neurala's research team invented Lifelong-DNN? (L-DNN) technology, which lowers the data requirements for AI model development and enables continuous learning in the cloud or at the edge. Neurala is headquartered in Boston, MA with a European subsidiary in Trieste, Italy. Follow Neurala on Twitter (@Neurala) and on Facebook, YouTube and LinkedIn. For more information about Neurala's AI software, request a demo. View source version on businesswire.com: Contact Hailey Melamut March Communications neurala@marchcomms.com 617-960-9856 © 2021 Business Wire, Inc. Disclaimer: This material is not an AFP editorial material, and AFP shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person/entity mentioned in the text of the release.
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