Hungarian capital fund invests in Czech AI start-up

Czech start-up Neuron Soundware has received 5.75 million euros in investment from Enter Tomorrow Europe, a Hungarian capital fund operated by Lead Ventures and supported by MOL and Eximbank.

Neuron Soundware is one of the first companies in the CEE region that provides AI-based solutions for several industries. Its software analyses the sounds made by industrial machines and can detect even the smallest of changes or unusual noises, indicating that the equipment is faulty or in need of maintenance.

“We know exactly how pumps, gearboxes, cylinders, electromotors, or compressors should sound,” said Pavel Konečný, founder and CEO of Neuron Soundware.

“The sounds of all regular components of a machine are stored in a database. But that is not enough, our artificial intelligence software is able to distinguish problem noises from regular process hum and surrounding sounds, giving the customer the certainty that the machine will not pull off any unpleasant surprises,” he added.

“Start-ups from Central Europe, which have already been tested, have great potential to break through in global markets,” added Oszkár Világi, MOL Group’s Chief Innovation Officer. “As part of our strategy, we are looking for innovative solutions that can increase the effectiveness of technical processes in industrial services. Like our recent entry into Slovak GA Drilling, our entry into Czech Neuron Soundware is an example of a successful connection of small start-ups with a strong international company for further growth.”

Lead Ventures now aims to support start-ups with innovative ideas all over the CEE region, assisting them to take their products or services to the global market.