BrainUp Secures Nearly RMB 100 Million in Funding, Advances Domestic Brain-Computer Interface from Concept to Reality

36Kr has learned that the brain-computer interface company “BrainUp"BrainUp recently completed a financing round of nearly RMB 100 million, with investors including the Jinan Biotech Medical Industry Development Fund of Funds and several market-based investment institutions. BrainUp is a leading brain-computer interaction enterprise based on neural network algorithms, which has been consistently followed by 36Kr."

In the Booming Field of Brain-Computer Interfaces, Domestic Foundational Technologies Achieve Breakthroughs

In Silicon Valley, across the ocean, Elon Musk, long known as the “Silicon Valley High-Speed Rail Hero,” showcased his company Neuralink’s latest generation of brain-computer interface (BCI) products at this year’s launch event, using three pigs to demonstrate the technology. With a coin-sized implantable chip and an automated surgical device capable of implanting the chip, he ushered in a new era of “mind-controlled” interaction.

BrainUp is one of the few domestic companies willing to “tackle the hardest challenges.” BrainUp stated, “There are also people in China who are building their enterprises with an eye toward the future of humanity.” The company noted that, whereas typical technology firms usually focus on developing a single product or pursuing a specific research topic, BrainUp has been addressing high-barrier foundational technologies. Over the past 18 months, starting from the base of the industry chain and integrating neuroscience research, it has reestablished and redefined the R&D process for brain–computer interaction (BCI) product applications. In doing so, it has developed relevant electrode materials, sensing circuits, signal conversion and computation circuits, signal-processing algorithms, and recognition models, as well as constructed an ultra-large-scale dataset of electroencephalographic (EEG) biosignals.

Currently, BrainUp has achieved systematic and breakthrough progress. Through various research collaborations with Tsinghua University and partnerships with multiple Grade A tertiary hospitals, it has successfully established a self-developed brain data computing platform. This platform is developed by Tsinghua UniversityArtificial Intelligence Research InstituteAcademician Zhang Bo, the President, serves as the Chief Technical Expert. During its application, the technology has garnered significant attention and promotion from Professor Shi Yuanchun and Professor Liu Yongjin, internationally renowned scholars in human-computer interaction research at Tsinghua University.

It is particularly worth emphasizing that, under the guidance of Academician Zhang Bo, BrainUp has led the development of a brain data computing platform, which is an open platform provided free of charge to downstream enterprises. Previously, domestic EEG research and development heavily relied on imports, with the upstream technology sector monopolized by foreign products. In terms of hardware, Texas Instruments (TI) from the United States captured the majority of the global market share; in terms of software platforms, OpenBCI from the United States dominated the global market. However, due to changes in the international landscape, domestic EEG research and development can no longer depend on imported products, making the urgent need for Chinese-made alternatives evident.

Therefore, the Brain Data Computing Platform developed by BrainUp is an open platform with significant social value. In the development of this project, BrainUp, as a market-oriented enterprise, did not pursue short-term profitability; instead, it invested substantial human resources and capital into achieving breakthroughs in brain-computer interface technology and building the platform. This platform helps ensure the stability and security of the electroencephalography (EEG) field in China, thereby driving the development of the entire industry.

In its future development, BrainUp will successively engage in deep collaborations with multiple domestic integrated circuit and chip institutions to advance the transition of its core brain-computer interface (BCI) chips from independent R&D to in-house manufacturing, thereby establishing robust R&D and production capabilities for core hardware. Meanwhile, the company will collaborate with local governments across various regions to promote the establishment of a "Brain Science and Brain-Computer Interaction Research Park," helping China maintain its world-class competitiveness.

In this year's globalYouth InnovationAt the new conference, BrainUp was named one of the “Top 10 Most Innovative Companies of 2020,” with other selected companies includingDJI Innovations、Megvii Technology、4Paradigm、Aispeechand ten other technology companies.

Comprehensive Implementation of Commercialization Initiatives, with Profitability Expected Next Year

For the brain-computer interface industry, a common challenge faced by companies is how to commercialize the technology.

BrainUp stated that the company’s core focus lies in the research and development of foundational technologies. Starting with these underlying technologies, it is extending its efforts to explore commercially viable products, with profitability expected to begin next year. BrainUp’s currently explored commercialized products include:

• The consumer-grade sleep product launched its second generation in November this year, ranking first in sales within the same category on Taobao that month;

• Memory-enhancement products, developed in collaboration with Xuanwu Hospital, Tsinghua University, and Zhejiang University, are currently in the clinical trial phase. They are expected to apply for innovative medical device certification and are intended for patients with Alzheimer’s disease and cognitive impairments, as well as adolescents requiring memory function improvement.

• Enterprise-grade product direction: a smart helmet for real-time monitoring and protection of workers' mental states, applied in security and safety production management. Clients include large central state-owned enterprises in the emergency management sector, as well as the electric power, railway, and coal industries.

• Mental health screening and assessment services utilizing brain-computer interface (BCI) technology, which achieve accuracy equivalent to that of hospital-grade wet-electrode EEG devices through portable dry electrodes. Primary clients include community hospitals and health examination centers. Furthermore, the EEG hardware products have obtained medical device certification.

• Collaborate with the entertainment industry to launch brain-controlled cars and brain-controlled VR/AR, enhancing visual interactive experiences.

The Brain-Computer Interaction Market Boasts Huge Potential, with Tech Giants Rolling Out Their Layouts

Looking at the brain-computer interface industry, many tech giants have already made their moves in the sector, focusing on the development of underlying technologies. Since 2014,Baidu、iFlytekAs companies roll out their respective artificial intelligence brain initiatives, Google, Facebook, and Elon Musk have also made strategic moves in this field. Solely in terms of the market size for brain-computer interface (BCI) devices, data from Allied Market Research indicates that the BCI market reached $1.46 billion in 2020. However, when considering the application areas influenced by BCI technology—whether in healthcare, education, or consumer sectors—the potential market space far exceeds the multi-billion-dollar range.

BrainUp’s consumer-grade sleep products (left and center images); BrainUp’s partner team (right image)

BrainUp stated to 36Kr, “Brain-computer interaction is not just a world-class endeavor; it is also a window into the cosmos, exploring how humanity can better survive and thrive. Our destination is on Earth, yet farther than Mars.”