NeuralSpace raised £1.2 million in a funding round led by US investor Merus Capital

NeuralSpace, a London, UK-based software startup working on a machine learning technology used as chatbots to respond to human text and speech, announced completing a seed funding round closed at £1.2 million ($1.5 million).

The money was raised from investors led by the US-based VC Merus Capital, and joined by APX and Verissimo Ventures.

NeuralSpace, founded in 2019 by Ayushman Dash, CEO Felix Laumann, Kumar Shridhar, is building a SAAS platform which offers developers a suite of APIs for Natural Language Processing (NLP) that can be used without having any Machine Learning (ML) or Data Science knowledge. The company says it created an NLP architecture that works effectively on smaller than usual datasets. It is offering an NLP platform that has already been trained in 89 different languages and can be used without machine learning expertise. Its technology is also being made widely available through a freemium model that allows application developers to access a free version of the platform, with a wider feature set available through a paid subscription.

NeuralSpace was founded in Germany and is headquartered in the US, with most employees based in India, the home country of co-founders Ayushman Dash and Kumar Shridhar. Felix Laumann is based in the UK.