The Withers tech team has assisted Neurolaboratories Ltd, a start-up based in the UK and Romania bringing AI technology to the retail sector, on a £2.7m seed investment round with four investors.
Neurolabs’ ReShelf Go product allows retailers to monitor their stock through CGI Computer Vision models. These can be used to present data sets which highlight stock keeping issues and allow stores to manage their product needs. Neurolabs was founded in 2018 to develop systems that would utilise machine learning to continually adapt to real world retail requirements.
The seed round investors were led by Launchhub Ventures, alongside Lunar Ventures, 7percent Ventures and Techstart.
Sarah Melaney, partner in Withers tech, comments: “Technology is really transforming how retailers market and manage their products, and Neurolabs’ solutions offer extremely powerful visualisation and data capture tools. This seed round will enable the team to keep investing and building on their systems to improve on effectiveness and increase their reach into the retail market.”
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Sarah, working alongside associate Charlotte Berendt and trainee Kate Heywood.