Neurons has secured over €6 million in one of Denmark’s largest seed round deals. The startup is shaping the consumer insight space through a blend of neuroscience knowledge and AI tech.
Understanding consumers is fundamental to sales and marketing teams worldwide. Knowing the target audience, and then being able to tailor strategies that can win over clients is a sales and marketing team’s bread and butter. It’s crucial for customer success and business development as well – without happy customers, businesses aren’t so happy either.
Neurons Inc has been shaping this space since 2013. Instead of simply understanding the customer and their wants and needs, Neurons enables businesses to predict consumer behaviour using AI and neuroscience.
The funding
Today, the Danish startup has announced a seed investment of over €6 million – an impressive number given that globally seed rounds tend to be around the €5 million mark.
Fairpoint Capital joined Vækstfonden and Finance Zealand to make up this investment.
Filip 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 behaviours in a matter of seconds will revolutionize the way brands do business for many years to come.”
Pioneering consumer prediction
Operating since 2013, Neurons has been a forerunner in the consumer prediction space. The startup applies neuroscience tools and insights to help =businesses understand both unconscious and conscious responses of consumers – giving actionable insight into consumer attention, focus, cognitive responses and engagement. All of this is provided with a reported 95% accuracy in a matter of seconds.
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’ AI models are built and constantly updated using their leading consumer neuroscience database and because of this, reflect market trends. The Danish team has been leading the consumer insight space by blending the power of neuroscience and AI – supplying more accurate consumer data at a fraction of the cost and at a rapid pace.
Plans to scale
Neurons has been providing its pioneering tech to Fortune 500 companies such as Google, Coca Cola, Mercedes, Capital One, and Ikea since its launch. The company is committed to bringing the product to the mass market by integrating its technology into many platforms including Adobe, Chrome and Figma, as well as establishing strategic partnerships.
In the upcoming months, the Neurons team plan to break new ground by releasing sentiment AI software to enable companies to predict not only what customers will look at, but also how they will feel.
The investment will fuel these plans as well as be used to attract new talent. The startup aims to scale up to around 200 employees and generate a sizable increase in ARR by 2025.
Jacob 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.”
