Vision AI software company Neurala will base its European subsidiary in Italy, with an aim to establish a presence in Europe and advance its efforts in the industrial sector.
Backed by Friulia, an investment firm based in Trieste, and AddValue, an investment firm based in Milan, the new subsidiary will be the AI company’s base outside of the U.S.
“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 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.”
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.
Global strategic partners, including IMA Group, Antares Vision, FLIR Systems and IHI Logistics and Machinery, as well as several European systems integrators.
Dario Rea, director of corporate research & innovation at IMA Group, said: “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.”