NeuralSpace, a London, UK-based SaaS platform offering natural language processing (NLP) APIs to engineers, raised $1.7 million in a seed round, this funding round valued NeuralSpace at $11 million.
The round was led by Merus Capital, other investors include APX (the joint venture arm of Porsche and Axel Springer), Verissimo, and several impactful angels.
NeuralSpace is looking for researchers and UX developers who can help users integrate a voice-command system, automated summarization, or sentiment analysis with the click of a button.
Company: NeuralSpace, Inc.
Raised: $1.7M
Round: Seed Round
Funding Month: February 2022
Lead Investors: Merus Capital
Additional Investors: APX and Verissimo
Company Website: https://www.neuralspace.ai/
Software Category: No-Code NLP Platform
About the Company: Founded in 2019 and bootstrapped for the first 10 months, NeuralSpace is a Software as a Service (SaaS) platform which offers developers a suite of APIs for Natural Language Processing (NLP) that you can use without having any Machine Learning (ML) or Data Science knowledge. NeuralSpace started with the vision to create a platform that could take humanity a step further in bridging the massive language gap that is prevalent around the world and prevents many from accessing vital services or education. NeuralSpace combines several methods to work around the lack of data for low-resource languages. These include transfer learning and combining the datasets of multiple related languages. The platform currently supports 87 languages. It also offers language-agnostic models that developers can use for languages not as yet supported. The company currently generates USD 100,000 ARR and has a graduated subscription model. Its 19-person team, scattered across the globe, is headquartered in London.
Source: https://slator.com/api-platform-neuralspace-raises-usd-1-7m-in-seed-round/