Symbionics Secures RMB 30 Million in Series Angel Funding Led by Kunlun Capital to Advance Flexible Brain-Computer Interface Technology

VCBeat learned第一时间 that on October 24, brain-computer interface startup Symbionics announced the completion of an angel round of financing worth 30 million yuan, exclusively invested by Kunlun Capital.

Symbionics focuses on the development of flexible brain-computer interface devices and was founded in 2023, exactly 50 years after the concept of "Brain-Computer Interfaces" was formally introduced in 1973. In its early stages, the development of brain-computer interfaces was relatively slow due to technical limitations. In recent years, with continuous advancements in materials science and nanotechnology, a new generation of brain-computer interfaces that can truly connect carbon-based lifeforms with silicon-based devices, enabling direct communication between the two and expanding the boundaries of human brain capabilities, has become a reality.

Brain-computer interfaces have broad application prospects in multiple fields such as healthcare, rehabilitation, and entertainment. In the medical field, brain-computer interfaces can be used for neural prosthetics and neuromodulation, helping individuals with disabilities and neurological disorders regain the ability to live normal lives. In the entertainment sector, brain-computer interfaces can be applied to technologies like virtual reality and the metaverse, providing consumers with a more realistic immersive experience. Additionally, brain-computer interfaces hold significant potential in areas such as military, education, industry, and security.

According to the signal acquisition pathway, brain-computer interfaces (BCIs) can be divided into two major categories: non-invasive and invasive BCIs. Non-invasive BCIs, due to their relatively mature technology and earlier development, have reached a bottleneck in signal resolution because they are limited by natural anatomical barriers such as the meninges and skull. The earliest clinical practice of invasive BCIs utilized rigid Utah electrodes developed in the 1990s. Over nearly 12 years of clinical practice, these rigid Utah electrodes demonstrated various possibilities for BCIs but also exposed several drawbacks of rigid electrodes, such as immune rejection and signal drift, which have hindered BCIs from truly meeting downstream demands. Neural electrodes are key components that need to be implanted long-term into the human brain in the entire BCI system. Ideal neural electrodes must be capable of collecting high-quality neural signals stably over the long term. Symbionics' flexible electrode technology has currently achieved the long-term stable collection of high-quality, single-cell resolution neural signals, perfectly evading immune rejection in living organisms. Implanted electrodes exhibit extremely high biocompatibility and neurointerface stability, solving many problems associated with traditional rigid electrodes.

In September 2021, the Ministry of Science and Technology launched China's Brain Project, which covers 59 research fields and directions, including the study of flexible brain-computer interfaces. This field of research has received strong national support and promotion, demonstrating China's determination and investment in the area of flexible brain-computer interfaces. According to data from the international market research firm IMARC Groupe, the global brain-computer interface market size reached $1.5 billion in 2021, while the market size of China’s brain-computer interface industry was only about 1 billion yuan, accounting for less than 10% of the global market. The domestic brain-computer interface market still has enormous room for development. Currently, the global brain-computer interface market is gradually expanding, and it is expected to reach $3.3 billion by 2027, indicating broad market potential.

Symbionics' Chief Scientist, Dai Xiaochuan, and CTO, Gao Teng, have been deeply engaged in the field of flexible neural electrodes for many years. They are pioneers in neuromorphic electrodes, laying a solid foundation for key underlying technologies in brain-computer interfaces. They studied under Charles M. Lieber, a professor at Harvard University and a foundational figure in the global fields of nanomaterials and bioelectronics, as well as a member of four academies. After returning to China, these two scientists established independent laboratories at Tsinghua University and the Chinese Academy of Sciences, respectively, focusing on the continuous research, development, and translation of brain-computer interface technology for both brain science research and clinical applications. Core members of Symbionics’ founding team graduated from world-leading universities such as Harvard University, MIT, and Columbia University.

Symbionics CEO Wu ShuSymbionics stated: "Brain-computer interface is a technology with tremendous potential, not only offering entirely new treatment options for various diseases in the medical field but also envisioning a future where it creates a more seamless form of human-computer interaction. Symbionics is at the global forefront in the key technology research and development and products of brain-computer interfaces. We highly appreciate Kunlun Capital for sharing our vision of changing the world through brain-computer interface technology, and we thank them for their strong recognition of the Symbionics team."

Kunlun CapitalStated: "Starting from improving the quality of life for disabled patients, brain-computer interfaces ultimately have the opportunity to change the paradigm of human-machine interaction. As a key technology with significant strategic value, the development of brain-computer interfaces requires a team that stands at the forefront of global science and technology while being able to implement practices locally. The Symbionics team comes from top-tier laboratories in the field and has achieved local implementation in a short period of time. In the long race of brain-computer interface development, Kunlun Capital is optimistic about the team's continuous innovation capabilities."

The funds from this round of financing will be mainly used for team expansion, basic platform construction, technical product finalization, and the promotion of flexible brain-computer interface technology development, bringing more convenience and benefits to humanity.

Kunlun Capital, founded in 2015, focuses on investing in technology innovation-driven enterprises. As an investment firm led by entrepreneurs still actively engaged on the front lines of business, Kunlun Capital centers on user value, pays attention to cutting-edge technological innovations, and emphasizes investments in leading companies within niche markets. In recent years, Kunlun Capital has been deeply involved in the medical field, seeking industry partners dedicated to addressing unmet clinical needs, and has successively invested in outstanding companies such as NeoX Biotech, Keya Medical, EdiGene, Cytek (NASDAQ:CTKB), Huida Gene, OEBIOTECH (SH:688238), Ocean NanoTech, Leapcell Biosciences, Prime Medicine, Yudao Bio, Danyuan Medical, CellOrigin Bio, Grail Bio, Huanma Bio, Xinsi Technology, and Hexa Pharm.