The Israeli startup, which graduated from the UpWest Labs accelerator, receives a seed investment with plans to further develop its technology
Others that participated in the funding include SingTel Innov8 Ventures, Pitango Venture Capital, TriplePoint Ventures and angel investors Ben Narain and Isaac Applebaum.
The funds will be used to further develop Neura’s technology, which enables connected devices to offer a responsive and personal user experience by understanding an individual’s patterns and behaviors. The graduate of Silicon Valley accelerator UpWest Labs also acts as a connection between devices, locations, people and the web, allowing devices to better communicate with one another.
Internet of Things
“Currently, devices available within the marketplace don’t correspond to their owners or to one another, with zero contextual understanding and adaptive learning abilities,” Gilad Meiri, CEO of Neura, said in a statement. “This funding will allow our team to finally develop the solution in which devices are empowered with intelligence and cooperate to understand the human element behind behavioral patterns.”
The Internet of Things is expected to grow to 26 billion units by 2020, according to IT research firm Gartner Inc. The McKinsey Institute, for its part, predicts that the global worth of the Internet of Things will be $6.2 trillion by 2025. Neura, therefore, is looking to create solutions that help devices communicate, correlate data and intuitively adapt to users’ needs. Neura creates intuitive and intelligent experiences between people and their connected environments.