Neural Analytics said it reeled in a $10 million Series A round it plans to use on a clinical trial of its device for detecting traumatic brain injuries.
Los Angeles-based Neural Analytics said participants included new backers JSR Limited and Taiyu Capital, a subsidiary of TigerMed. A seed round last year brought in $3 million, the company said.
“Neural Analytics is very pleased to complete this financing, and we welcome JSR Limited and Taiyu to our multinational syndicate of top tier investors,” co-founder & CEO Leo Petrossian said in prepared remarks. “This remarkable level of interest and significant capitalization demonstrates high confidence in our team and the excitement around the launch of our clinical trials early next year.”
The Neural Analytics device is designed to measure, assess and track traumatic brain injuries using transcranial doppler measurements to determine brain blood flow activity, according to the company’s website.