BOSTON--()--Neurala's 2024 was a year defined by strong growth in revenue, new strategic partnerships, and technical and product innovation. As the global AI in computer vision market is expected to grow to $95 billion by 2027, Neurala continues to lead the way thanks to its technology leadership and the ability to solve real-world challenges through its patented edge AI technology.

“This has been a year of leadership consolidation and growth in partnerships. The launch of Cascade in our Neurala VIA flagship product has advanced the capabilities of edge AI and reinforced our commitment to empowering developers and manufacturers worldwide. It was also a year of growth on the revenue side thanks to trusted and leading partners, and we look ahead to 2025 with confidence: Neurala will continue to shape the future of AI and create lasting impact across industries,” said Massimiliano Versace, CEO of Neurala.

Strong growth in revenues and partnerships

Neurala’s growth in 2024 has been very strong, doubling its annual revenue with a 107% year-over-year increase, a reflection of both the strong market adoption of our AI vision solutions and successful execution of our go-to-market strategy, particularly in the manufacturing and industrial sectors where our Cascade and VIA platforms have gained significant traction. Established (Sony Semiconductor Solutions) and new (Lattice Semiconductor) partnership have enabled Neurala to expand the adoption of edge AI technologies. Leveraging Lattice’s low-power FPGA technology, this partnership aims at accelerating the delivery of scalable, energy-efficient, and privacy-conscious AI solutions​​.

AI breakthroughs and product innovations

At Vision Stuttgart, Neurala unveiled Cascade, a revolutionary feature that simplifies and optimizes AI model deployment for real-time edge applications. Cascade allows manufacturers to create complex inspection workflows, seamlessly combining multiple AI models – a committee of AI experts, if you will - while maintaining the efficiency and ease of use of Neurala’s VIA software.

At its core, Neurala’s patented L-DNN technology leads the industry, minimizing resource requirements and supporting edge-based AI processing, and enabling sustainable AI deployments. This approach reduces energy consumption, aligning with global environmental priorities​​, and enables customers to implement advanced AI directly at the compute Edge, where data is generated, and inspections are needed.

In 2024, Neurala’s Director of Research and Development, Aishwary Jagetia, was honored at the National Scientists Roundtable Conference (NSRTC) 2024 for his pioneering contributions to AI research. This accolade underscores Neurala's commitment to advancing the field of artificial intelligence​.

Looking ahead to 2025

Building on a record-breaking 2024, Neurala will continue to lead the next wave of AI innovation. With a focus on delivering adaptable, efficient, and privacy-respecting AI solutions, Neurala will drive growth of AI deployment in Manufacturing, where efficiency, quality and sustainability are key drivers for the industry.

About Neurala:

Founded in 2006, Neurala is a pioneer in vision AI software, driving innovation to make AI more applicable and beneficial in real-world applications. Neurala aids industrial companies in enhancing their quality inspection processes, offering technology that significantly reduces the time, cost, and expertise required to develop and maintain high-quality custom vision AI solutions. Neurala's research team invented Lifelong-DNN™ (L-DNN) technology, which minimizes the data requirements for AI model development and enables continuous learning in the cloud or at the edge. Today, Neurala's technology is deployed globally across various industries, including industrial, drone, robotics, and smart devices.

Stay informed about Neurala's latest developments by following us on Twitter (@Neurala), Facebook, YouTube, and LinkedIn, or subscribe to our blog. For a deeper insight into Neurala’s vision AI software, we invite you to request a virtual demo.