Gestala Secures $21M Series Angel Round Led by Chinese State-Backed Investors, Co-Founded by Chen Tianqiao and Peng Lei

Notably, this financing scale has set a new record for the highest angel round funding in China's brain-computer interface field, second only to the $252 million raised by Merge Labs, an ultrasound brain-computer interface company co-founded by OpenAI founder Sam Altman. This highlights that the influx of capital signifies ultrasound as the core technological pathway for non-invasive deep brain modulation, gaining strategic investment from top-tier investors worldwide.

Public information shows that Gestala, co-founded by Peng Lei, Chen Tianqiao (founder of Shanda Group and the Tianqiao and Chrissy Chen Institute), was established on January 1st this year. In just about two months, the company has built an interdisciplinary team in the field of ultrasound brain-computer interface and established a closed-loop of fundamental capabilities.

It is reported that the core team of Gestala consists of scientists from top institutions such as Fudan University, Imperial College London, and Johns Hopkins University. The team spans key interdisciplinary fields including neuroscience, AI, ultrasound engineering, and clinical medicine, forming a complete innovation chain from "scientific breakthroughs" to "engineering development" and then to "clinical translation."

丨From BrainTiger to Gestala, Peng Lei's Sixth Entrepreneurial Turn

When it comes to Gestala, the heavyweight founder Peng Lei is definitely indispensable. He embodies a dual background of academic research and serial entrepreneurship. Peng Lei graduated with a bachelor's degree from the University of Science and Technology of China, obtained his master’s degree from the Hong Kong Polytechnic University, and later pursued his Ph.D. at the Institute of Brain-Inspired Intelligence Science and Technology at Fudan University. He currently serves as a specially appointed researcher at the Tianfu Jincheng Laboratory and is also a leading talent in China’s "Ten Thousand Talents Plan." Within the industry, he is regarded as one of the “entrepreneurs who understand science the most.”

Gestala Founder and CEO, Peng Lei

In 2012, Peng Lei founded Keruyun, which was wholly acquired by Alibaba Local Life for 1 billion RMB in 2019. In 2021, he co-founded NeuraMatrix, a leader in brain-computer interface technology, with classmates from the University of Science and Technology of China. During this period, he led NeuraMatrix to achieve breakthroughs in 256-channel high-throughput implantable flexible brain-computer interface technology, completed multiple human clinical trials, and successfully achieved real-time motion decoding and Mandarin decoding, reaching an internationally leading level.

In 2025, BrainCo, co-founded by Peng Lei, was at the height of its success. At the beginning of the year, this invasive brain-computer interface company announced its self-developed high-throughput implantable flexible brain-computer interface, making it the world's only company to simultaneously achieve dual decoding of motor and language functions. In the same year, it was selected as one of the "Top 50 Smartest Companies" globally by Fortune. However, at the peak of his career, Peng Lei made a seemingly "counter-trend" decision—to leave BrainCo and embark on a new entrepreneurial journey.

This time, he has set his sights on the differentiated track of ultrasonic brain-computer interfaces. From the internet to AI, from invasive to non-invasive modulation, this marks Peng Lei's sixth career transition.

The new company is named "Gestala," derived from the German philosophical and psychological concept meaning "the whole is greater than the sum of its parts." This name embodies Peng Lei's holistic approach to brain research — not isolating and reading or stimulating a single brain region, but aiming to build a complete system capable of understanding, regulating, and forming a closed-loop interaction with the brain.

From the equity structure, Peng Lei directly holds 55% of the shares as the largest shareholder of the company. Chengdu Gestala United Enterprise Management Center (Limited Partnership) and Chengdu Gestala Fellow Enterprise Management Consulting Center (Limited Partnership), both controlled by Peng Lei, each hold 10%, totaling 20%. The remaining 25% of the shares are held by Shanda Cognition (Shanghai) Technology Development Co., Ltd., a wholly-owned subsidiary of Shanda Network, which is controlled by Chen Tianqiao.

| China's Youngest Rich, Back Again

Similarly, the birth of Gestala Technology also cannot be separated from the promotion of co-founder Tianqiao Chen.

Chen Tianqiao graduated from Fudan University and serves as the Chairman of the Board and Chief Executive Officer of Shanda Network. In 2004, at the age of 31, Chen Tianqiao led Shanda Network to go public on NASDAQ by representing "The Legend of Mir," becoming the richest man in China. However, at the peak of his career, he experienced panic attacks twice – this neurosis, accompanied by a sense of impending death, made him develop a sense of awe and curiosity about the workings of the human brain.

Gestala Co-founder Tianqiao Chen

Thereafter, Shanda's grand vision of building an "online Disney" encountered setbacks. In 2012, Chen Tianqiao privatized Shanda, and in 2014, he stepped down from all positions, retreating overseas and disappearing from the public eye. After more than a decade in seclusion, he completed a transformation from "Godfather of Online Games" to "Brain Science Explorer." Over the years, while purchasing land across the ocean to become a "major American landowner," he has also poured enormous wealth into foundational research in brain science and life sciences.

In 2016, Chen Tianqiao and his wife donated 1 billion US dollars to establish the Tianqiao and Chrissy Chen Institute (TCCI), focusing on brain exploration, diagnosis and treatment of brain diseases, and brain enhancement. TCCI has deeply cooperated with top global institutions such as Caltech and Huashan Hospital of Fudan University, and its funded research results have frequently been published in top journals.

Today, investing in Gestala has become a key part of its brain science strategy. This ultrasound brain-computer interface company, co-founded by him and serial entrepreneur Peng Lei, carries his continuous exploration of the mysteries of the brain.

丨Clinical Breakthrough of Ultrasound Pathway

Among the underlying technology routes of brain-computer interfaces, invasive electrodes offer high spatiotemporal resolution, but the risks associated with craniotomy limit their widespread application in non-critical patients; traditional non-invasive approaches such as transcranial magnetic stimulation, while highly safe, face physical bottlenecks in terms of spatial resolution and depth of action. As a mechanical wave, ultrasound provides a new engineering solution for constructing a non-invasive, precise, and deep-brain accessible whole-brain read-write system.

The core mechanism of ultrasonic neuromodulation lies in converting physical mechanical waves into bioelectrical signals that neurons can respond to. When low-intensity focused ultrasound enters brain tissue, it triggers a series of cascade reactions: thermal effects alter cell membrane fluidity; cavitation effects generate microflows and shear forces; and acoustic radiation force directly induces deformation of the cell membrane.

This physical deformation can activate mechanosensitive ion channels, prompting the influx of sodium and calcium ions, which ultimately triggers action potentials. Through precise control by phased-array transducers, ultrasound can penetrate the skull to achieve accurate targeted focusing within a range of 4 to 8 millimeters in deep brain regions at depths of 6 to 7 centimeters, directly impacting deep nuclei such as the thalamus, hippocampus, and basal ganglia — key hubs associated with chronic pain, Parkinson's disease, depression, and epilepsy.

Compared with traditional invasive electrical pathways, ultrasound pathways have the advantages of being non-invasive, enabling whole-brain "read-write" functions, and multi-target neural circuit modulation. The indications they address are closer to clinical needs, covering a broader patient population and offering a wider market potential.

In terms of clinical advancement strategies, Gestala initially focuses on the implementation of medical scenarios, choosing chronic pain management as the first indication. This choice balances a large patient base with relatively objective efficacy evaluation criteria. To date, over 30 clinical trials have validated its efficacy: a single stimulation can reduce pain scale scores by 50%, with effects lasting 1-2 weeks. The company has established cooperation frameworks with Huashan Hospital Affiliated with Fudan University, West China Hospital of Sichuan University, and Peking Union Medical College Hospital to conduct multi-center clinical studies for various indications.

Notably, in the second quarter of this year, Gestala will complete the first phase of its headquarters and the first production line in Chengdu. In the third quarter, it will commence operations, and by the end of the year, it will initiate the NMPA Class III medical device registration process, with plans to complete registration and go to market within 1-2 years, quickly achieving revenue closure. Meanwhile, in the field of sports rehabilitation, Gestala is collaborating with this round's investor, Fourier Intelligence, to explore a closed-loop training mechanism that encompasses intent, execution, and sensory feedback. Clearly, its commercialization pace is clear and compact.

In contrast, Merge Labs, co-founded by Sam Altman, has also chosen the path of combining ultrasound with gene therapy. However, Gestala's commercialization approach exhibits a distinct incremental characteristic—starting with non-invasive physical modulation, gradually transitioning to brain activity reading and closed-loop modulation, and ultimately planning to introduce sonogenetics technology to break through the system bandwidth and spatiotemporal resolution limits.

Overall, the development of ultrasonic brain-computer systems involves complex engineering such as the precision design of phased array transducers, the development of transcranial sound field compensation algorithms, and the management of probe power consumption and heat. Its difficulty is no less than that of early implantable systems. Therefore, the competitive advantage of Chinese enterprises lies not only in the establishment of cross-disciplinary R&D teams but also relies on the well-established high-end manufacturing supply chain in China and the highly efficient clinical transformation.

| In conclusion

"The 15th Five-Year Plan" positions brain-computer interface as a key future industry, with policy benefits being released; the clinical demand for treating major diseases such as Parkinson's disease, depression, and paralysis rehabilitation continues to grow; after an early period of observation, capital is now concentrating on companies with core technical capabilities and clear clinical pathways. With multiple factors叠加, the tipping point for China's brain-computer interface industry is approaching.

The impressive lineup and substantial amount of this angel round financing not only represent the capital market's high recognition of Gestala's technological leadership, clinical implementation capabilities, and long-term value, but also underscore the strategic importance and investment consensus of the ultrasound brain-computer interface sector on a global scale.

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