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AI effectively predicts machinery malfunctions. Neuron Soundware has received support in the form of millions of euros.

With the assistance of AI, they can predict machinery malfunctions. The technology company Neuron Soundware has secured funding of seven million euros from the EU Horizon and the Czech TAČR programs EU Horizon and the Czech TAČR programs.

The company Neuron Soundware utilizes artificial intelligence to assist in diagnosing potential malfunctions in manufacturing equipment, thereby preventing more serious failures.

Simultaneously, it optimizes manufacturing processes and enhances production quality through machine data processing. The company made a mark in the Czech market as early as 2016 when it won the Vodafone Idea of the Year competition. Now, NSW has received support both from the EU Horizon program and the Technological Agency of the Czech Republic, totaling 7 million euros for further development.

The funds were allocated based on the assessment of the IoT potential of the computing unit and the unique technology for detecting mechanical faults using neural networks for end customers. The company succeeded as the sole Czech project among 1,092 applicants in the European Commission’s EIC program, which focuses on innovative deep-tech companies.

“Thanks to this support, the company will acquire resources for further technological development of both our nEdge hardware unit. We expect computation performance up to a thousand times greater using the latest AI-accelerated chips, and the development of the entire nGuard analytical platform. The subsidy will enable further improvement in the capability of AI to predict machinery malfunctions and further scaling of the service worldwide. We are very pleased that our project succeeded in the pan-European competition of over a thousand projects. The combination of IoT devices and AI is demanding in terms of development, but undoubtedly, it will revolutionize manufacturing processes worldwide,” states CEO and founder of the company, Pavel Konečný.

Sound Beyond Gold

Technology based on the analysis of the entire acoustic sound spectrum is now being utilized across continents. Thanks to its easy installation and subsequent data evaluation, customers in the USA, Malaysia, Japan, other Asian countries, and throughout Europe are adopting it. Moreover, there is a growing demand emerging from Latin America. Due to the versatility of Neuron Soundware’s technology, which is precisely based on AI-driven sound data processing, the company now optimizes operations for a wide range of machines. This includes energy devices, transportation systems, production lines in the automotive industry, as well as machining tools, robots, welders, and 3D printers.

The company, currently expanding its team, has previously been honored with numerous European and global awards and has been ranked among the top 5 in the world in several of them. Examples include being named a Top 5 Innovator in the IoT domain worldwide and winning the Best European Innovation in Manufacturing award. Additionally, the company secured first place in the Idea of the Year startup competition in 2016.

“It’s incredibly satisfying to see how Idea of the Year participants evolve and succeed. Neuron Soundware is among the projects that have the potential to assist companies at a global level and have a tremendous impact on preventing disruptions in critical industrial equipment. That’s why I’m pleased that they’ve managed to secure further funding through EU Horizon technology grants and the Technological Agency of the Czech Republic,” says Idea of the Year founder, Martin Kešner.

14.04.2023| BusinessInfo.cz