Breakthrough in Brain-Computer Interface Industry: Precision Neuroscience and Borui Kang Secure New Funding Rounds

Smart Medical Device Network NewsRecently, Neuracle Technology (Changzhou) Co., Ltd. ("Neuracle") completed its D-round financing. Not long ago, Precision, a competitor of Musk's brain-computer interface company, also completed a $93 million financing.

Data shows that Neuracle, founded in November 2011, has a core team from the Neuroengineering Laboratory of Tsinghua University, which is among the global Top 5 in brain-computer intelligence, as well as experts in the medical market specializing in clinical neurology. It is one of the leading enterprises in China's brain-computer interface field.

Neuracle is a high-tech enterprise that focuses on the research, development, production, sales, and technical services of brain-computer interface systems and related equipment, with its core being the self-innovated "brain-computer interface" technology. Relying on Tsinghua University's self-innovated, internationally leading brain-computer interface technology, the company is committed to providing professional and comprehensive solutions for innovative neuroscience research as well as clinical neurological disease diagnosis, treatment, and rehabilitation research. The company’s main clients include prestigious institutions such as Tsinghua University, the Chinese Academy of Sciences, Beijing Normal University, Beihang University, Zhejiang University, University of Science and Technology of China, Shanghai Jiao Tong University, Xi'an Jiaotong University, Nankai University, Nanjing University, and medical institutions like Peking University Third Hospital, Xuanwu Hospital, Huashan Hospital, 301 Hospital, China Rehabilitation Research Center, and Tsinghua Changgung Hospital.

After years of dedicated efforts in the brain-computer interface field, the company has accumulated extensive technical expertise and experience in equipment development, earning numerous accolades. To date, the company has obtained 17 technical patents and 9 software copyrights, as well as a medical device production license, medical device registration certificate, and multiple high-tech product recognition certificates. It has successively undertaken or participated in the National Key Technology R&D Program during the 12th Five-Year Plan—"Research on Weak Signal Acquisition Technology and Product Development for Brain-Computer Interfaces"—and the 13th Five-Year Plan’s key project under the Ministry of Science and Technology—"Key Technologies and Clinical Application Research on Neuromodulation and Intelligent Rehabilitation for Alzheimer's Disease." The company has been the co-organizer and official designated equipment supplier for the World Robot Contest—Brain-Computer Interface Competition for three consecutive terms, providing technical support to ensure the smooth running of the event!

According to Neuracle: "The company's products can be widely used in scientific research fields such as neuroscience, psychology, human factors engineering, kinesiology, and management, as well as in clinical medical fields such as diagnosis, treatment, and rehabilitation of neurological diseases. The research and development achievements and technical strength have been widely recognized by experts in the fields of neural engineering and clinical medicine both in China and internationally."

It is reported that Neuracle's current products include: NeuroHUB wearable multi-modal research platform, NeuSenW wireless EEG system, NSD wireless dry electrode EEG system, wireless surface EMG and other brain science series products, and NeuStim transcranial electrical stimulation system, 32-channel high-precision transcranial electrical stimulator and other neuromodulation series products.

Precision Neuroscience is an American brain-computer interface company aimed at helping paralyzed patients use neural signals to operate digital devices. The company's full-stack brain-computer interface platform consists of microelectrode arrays, proprietary microelectronics, and advanced machine learning software.

According to Bloomberg, Precision Neuroscience plans to raise $100 million. It has already raised $93 million, with a valuation of approximately $500 million.

This round of financing has provided Precision with more financial support, enabling it to compete with companies like Neuralink and Science. To date, Neuralink has raised over $685 million, while Science has secured $150 million in funding.

Precision's device is called the "Layer 7 Cortical Interface," inspired by the six-layer structure of the cerebral cortex, representing a compromise between invasive and non-invasive brain-computer interface technologies. The device requires a craniotomy but does not penetrate deep into the brain tissue; instead, it is placed on the surface of the brain. Precision stated that this approach avoids damage to brain tissue. In contrast, devices from companies like Neuralink need to be placed within the brain tissue.

Currently, Precision's device has not yet received regulatory approval but is currently in testing. The company has implanted its device in several patients, but only temporarily during surgery, and the primary goal of the surgery was to achieve other therapeutic objectives, such as removing brain tumors.

Moreover, Precision has applied to the U.S. Food and Drug Administration (FDA) for approval of a version of its device for temporary monitoring in hospital settings and expressed hope that it could reach the market next year. This device will provide a revenue stream for the startup. Meanwhile, Precision is also developing another device: a permanent implant for treating paralysis.