General Equity Holdings led the financing round, which brings the company to $155 million in total capital raised. B Capital, Duquesne Family Office, the investment firm of Stanley F. Druckenmiller and Steadview Capital participated. The company says its round makes it one of the best-funded companies in the growing BCI industry.
An SEC filing earlier this fall said the company had brought in at least $93 million in the Series C round.
Precision Neuroscience plans to use the funds to expand its team, advance its clinical research efforts and refine future versions of its AI-powered brain implant. The company’s Layer 7 thin-film BCI features 1,024 electrodes embedded in a flexible film that conforms to the brain surface. The film comes in at one-fifth the thickness of a human hair.
This device aims to help users with severe paralysis operate digital devices, like computers and smartphones, using their thoughts.
“We’re beginning by addressing some of the most debilitating disorders—severe spinal cord injury, stroke, ALS—and our goal is to develop a product that is safe enough, and scalable enough, to treat a broad range of neurological conditions,” Michael Mager, co-founder and CEO, said. “This funding brings us one step closer to that vision.”
The likes of Neuralink, Synchron and many more are also vying to bring technology like this to market. Many of these companies have featured on various MassDevice lists of BCI and neurotech companies you need to know in recent years:
