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Friday, September 29, 2023

Danish consumer neuroscience startup Neurons Inc pulls one of the largest global seed rounds

Located in Copenhagen, Neurons Inc has raised over €6 million in a seed round joined by Fairpoint Capital, Vækstfonden, and Finance Zealand. This is one of the largest seed round deals on a global base. The startup applies neuroscience tools and insights to help businesses better understand unconscious and conscious responses. Since 2013, it has been offering its services to Fortune-500 companies such as Google, Coca-Cola, Mercedes, Capital One, and Ikea. The investment will help the company through strengthening its current position in software prediction services and the search for new talents to do so. Neurons is planning to scale up the company to 200 employees and expecting a sizeable increase in annual recurring revenue by 2025.

By using state-of-the-art technology, and inventing new solutions, Neurons aims to provide the best practice for gaining insight into consumers’ minds and behaviors. What makes their technology unique is that they update their databases from time to time to be able to follow the market trends and offer up-to-date practices to the customers. It harnesses the power of neuroscience and AI to provide companies with software that allows them to test customer responses at the touch of a button, instantaneously supplying more accurate consumer data than deep dive research, for a fraction of the cost. Right now, the startup’s technology is whispering to companies what their customers will look at when they see the product or the content. Neurons sets its eyes on a new ground that enables companies to predict not only what they will look at, but also how they will feel by releasing another software.

Neurons Inc, Thomas Zoega Ramsøy Thomas Zoega Ramsøy, Neurons Inc CEO and founder, said: “Throughout history we’ve dabbled in trying to predict human behaviour, with crystal balls and oracles, but this new combination of neuroscience and AI actually makes it possible, and with a high degree of accuracy. This seed investment allows us to scale our predictive tools and take something that is extremely complex like the brain, and AI and give it to customers in the palm of their hand. In doing so, we’re giving companies the power to create, market and sell the products and services they already know their customers want. No one else is actually doing this; predicting people’s behaviour within seconds.”

Neurons Inc, Fairpoint Capital, Filip PeterssonFilip Petersson, Fairpoint Capital, Investment Director, said: “We are focused on investing in amazing deep tech and making it accessible to the global market, so the decision to partner with Neurons was an easy one, even in these challenging economic times. We are thrilled to be playing a part in bringing something truly ground-breaking to businesses the world over. The ability to predict customer behaviors in a matter of seconds will revolutionise the way brands do business for many years to come.”

Neurons Inc, Vækstfonden, Jacob Bratting PedersenJacob Bratting Pedersen, Partner at VF Direct Investment said: “We believe Neurons has the team required for scaling their unique AI technology globally. Both independently and in partnerships with leading imaging and video focused companies. Neurons make the technology available to the mass market, which in the current challenging economic environment means giving companies who might otherwise reduce spending on consumer research the opportunity to discover more about their customers, for less. We are proud to support them on their mission to scale up their business and offer something that as yet, no one else is able to.”

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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