2022 Recap of Neurocle

Neurocle, a deep learning vision software company, unveiled its achievements and New Year's resolutions for 2022.

In 2022, Neurocle had a year of challenge and growth through continuous product advancement and aggressive new market development. In particular, they actively expanded their overseas business based on product competitiveness proven by major companies and medical institutions nationally and internationally, recording sales growth three times compared to last year.

◇ Continuous product advancements met needs at industrial sites

Neurocle focused on upgrading its products and technologies with two product updates this year. Released this November, Neuro-T and Neuro-R v3.1 are results of actively reflecting the voices of industry customers. v3.1 was developed with a focus on the convenience of utilizing multiple models and managing data and models. New features improved the utility of the software, such as the ▲ Inference Center (a space where you can design a deep learning project and evaluate models), the ▲ Rotation Model (a model that automatically rotates images to their proper orientation), and the ▲ Tag & Flag (a feature to tag images and flag models/label sets into different categories).

◇ Auto Deep Learning delivered competitive advantage for Korea's leading corporations

As leading corporations also recognize Neurocle's unrivaled technological competitiveness, they have Hyundai Motor, Renault Korea Motors, LG, and SK as customers. Neurocle's differentiated competitiveness lies in their own technology, Auto Deep Learning Algorithm. The Auto Deep Learning Algorithm is a function that automatically optimizes the parameters necessary for optimal model training, so users can create an optimized model with just a few clicks. Since even users unfamiliar with deep learning can use it without coding, users appreciate the lower entry barrier to a deep learning project and the reduced resources. Another strength of Neurocle products is that model performance is comparable to or higher than that of global competitors. A customer expressed disappointment in products from global competitors, which led to a lengthy trial and error process for several months. In the end, the customer switched to using Neurocle software, which quickly delivered the desired product quality by generating high-performance models.

◇ World-class overseas exhibitions led to European and American customer acquisition

Based on the solid portfolio built in Korea, Neurocle made remarkable achievements in overseas businesses this year. Active participation in overseas business was one of the ways Neurocle achieved this goal. In October, Neurocle participated in the world-class machine vision exhibition VISION 2022 in Germany and The Vision Show in the United States. There, Neurocle conducted a "vision tour" for potential customers wanting to adopt deep learning technology. The tour introduced pharmaceutical and manufacturing use cases in which Neurocle technology demonstrated outstanding performance. The concept of "No-code, GUI-based deep learning vision software that is easy to use for non-experts" was well received by overseas buyers, leading to post-exhibition business deals. Neurocle secured partnerships with companies in the United States, France, Spain, Switzerland, Ireland, and Norway. As a result, Neurocle has entered 14 countries in Europe and Asia, emerging as a major player in the global deep learning software market.

▲ Neurocle CEO Hongsuk Lee leads Vision Tour at VISION 2022

◇ Domestic and foreign awards recognized Neurocle as an emerging star in the global AI industry

Neurocle also proved its rapid growth through various awards at home and abroad.

In June, Neurocle won the Bronze Award at the Innovators Award hosted by Vision System Design at AUTOMATE 2022, the largest automation exhibition in North America held in Detroit. Vision Systems Design is a trusted global media company in the machine vision industry, annually hosting the Innovators Awards program to commemorate and promote innovative technologies and products in machine vision and imaging.

In November, Neurocle was honored with the Minister of Culture, Sports and Tourism Award (Excellence Award) at the Challenge! K-Startup 2022. Challenge! K-Startup 2022 is the largest startup competition in Korea operated by 11 government ministries, including the Ministry of SMEs and Startups. Neurocle succeeded in advancing to the King of Kings—the final 20 teams from a pool of 5,420—and won 70 million won in prize money.

▲K-Startup 2022 King of Kings taking a picture with Young Lee, Minister of SME and Startups

Not only that, Neurocle won the Korea Challenge Encouragement Award at Try Everything 2022, a global startup festival for promising startups, large and medium-sized companies, investors, and accelerators. They also proved their bright prospects as a global startup through their nomination as the only Asian startup in the TOP 10 Finalist in The Cowen Startup Challenge held by COWEN.

Neurocle CEO Hongsuk Lee said, "2022 was a year of various challenges to move to the next stage we envisioned." He added, "In the new year, we will prepare for our next steps through continuous technology and product upgrades while implementing diversified overseas market targeting. We will continue to make efforts to secure a firm advantage in the global deep learning software market."