Neosensory Secures $10M Series A Funding to Advance Innovative Hearing Technology That Transmits Sound Through the Skin

VCBeat (WeChat Official Account: vcbeat) has learned that Neosensory, a developer of haptic wearable devices, announced on January 9 (U.S. local time) the completion of its $10 million Series A financing round, following its $4.2 million angel round in 2015.

This funding round was co-led by Excel Venture Management and DigiTx Partners, with participation from True Ventures, Tao Capital, and several angel investors. Additionally, Juan Enriquez of Excel and David Kim of DigiTx will join the Neosensory board of directors.

Neosensory, headquartered in Palo Alto, California, was co-founded in 2015 by neuroscientists David Eagleman and Scott Novich. The company specializes in transmitting various data streams to the brain via tactile stimulation. With much of the human body’s sensory capacity remaining underutilized, the skin offers significant potential for conveying new information. Neosensory is developing an innovative hearing assistance technology that enables individuals who are deaf or hard of hearing to perceive sound through their skin.

Neosensory has launched multiple haptic products, including a wrist-worn haptic device for individuals who are deaf or hard of hearing, and the “VEST” (Versatile Extra-Sensory Transducer) haptic vest, which appeared in Season 2 of HBO’s Westworld.

Image source: Neosensory website

“Neosensory’s technology has the potential to transcend human biological limitations,” said Juan Enriquez, Managing Director of Excel Venture Management. “For patients with hearing impairments, we believe the market is highly optimistic about wearable solutions, such as Neosensory’s wrist-worn haptic device.”

David Kim, General Manager of DigiTx Partners, added, “Dr. Eagleman and the Neosensory team are advancing the field of sensory substitution. We are delighted to support Neosensory in its transition from cutting-edge R&D to a robust commercial company serving the needs of millions.”

How much potential sensory substitution solutions can unlock when integrated with well-designed wearable devices remains largely untapped by Neosensory. David Eagleman, CEO of Neosensory, revealed that this round of funding will help the company rapidly realize its more ambitious vision on a global scale.

Excel Venture Management focuses on companies that leverage transformative life science technologies, particularly in healthcare and related fields. Their portfolio spans healthcare IT and services, diagnostics, medical devices, and life science platforms. Companies such as ShapeUp, Openwater, and ClearData are among Excel’s investments.

DigiTx Partners invests in companies that create innovative solutions in the healthcare and life sciences sectors, with a focus on data-driven technologies. These technologies generate competitive insights and improve patient outcomes. Companies in DigiTx’s portfolio include Eko Devices, Welldoc, and Tissue Analytics.

(Compiled by: Tan Xin)