BCI Sector Sees Surge in Investment and Application Expansion as Industry Moves Toward Commercialization

Source: Securities Daily

Reporter Guo Jichuan of this newspaper

Recently, the activity of investment and financing in the brain-computer interface field has significantly increased.

In early September, Shanghai NAOYUN Technology Co., Ltd. announced the completion of an angel round of financing worth tens of millions of yuan. Almost simultaneously, GuangdongDow TechnologyThe joint-stock company holds shares in BrainCo through its controlling subsidiary. BrainCo, hailed as one of the "Hangzhou Six Dragons," focuses on the research and development of brain-computer interface technology.

It can be said that every leap in cutting-edge technology is inseparable from the long-term support of financial factors. In this process, long-term capital and patient capital have demonstrated unique value, precisely channeling "financial liquidity" into emerging fields such as brain-computer interfaces, providing solid support for their transition from technical validation to scaled implementation.

Technological Breakthrough

Advance in tandem with application expansion

From immersive entertainment with "mind-controlled games" to medical miracles like "spinal cord injury patients grasping objects through brain-computer interfaces," brain-computer interface technology is rapidly moving from concept to real-world applications. This technology has transcended the limitations of single scenarios, gradually building a multi-dimensional ecosystem covering fields such as medical rehabilitation, neurological disease treatment, cognitive enhancement, and human-machine collaboration.

"Brain-computer interface breaks the dependence of traditional interaction methods on physiological conditions and reconstructs the information transmission mechanism, becoming a key hub in human-machine integration," said Wang Haochong, founder and CEO of Xi'an Zhen Tai Intelligent Technology Co., Ltd., in an interview with *Securities Daily*. Traditional interactions such as keyboards, voice, and gestures still rely on the peripheral nervous system and muscular system, while brain-computer interfaces directly interpret neural signals to achieve seamless conversion from "thought" to "command." Its core value lies in acting as a "universal interaction interface" with broad applicability—useful for both functional restoration and capability enhancement, serving individuals while also boosting overall societal efficiency.

Currently, brain-computer interfaces have not only been deeply validated in the field of medical rehabilitation but are also actively exploring more scenarios such as consumer electronics and personalized education. Since this year, the technology has achieved several landmark advancements. For instance, China's first prospective clinical trial of an invasive brain-computer interface was successfully conducted, while non-invasive devices have rapidly gained popularity in consumer-level applications like fatigue monitoring and concentration training.

Policy Promotion

Industry Standards and Commercial Implementation

Since the beginning of this year, Beijing, Shanghai, Sichuan, and other regions in China have successively launched special action plans, explicitly proposing specific goals such as building brain-computer interface industrial clusters, establishing key laboratories, and promoting clinical applications. For example, the Shanghai Science and Technology Commission issued the "Shanghai Brain-Computer Interface Future Industry Cultivation Action Plan (2025–2030)," which proposes achieving high-quality brain control by 2030, with brain-computer interface products fully realizing clinical application. It aims to create a global innovation hub for brain-computer interface products, ensuring that core aspects of the industrial chain are independently controllable.

NMPA Approves the Launch of a Medical Device Industry Standard Revision Project: "Quality Requirements and Evaluation Methods for EEG Datasets Used in Artificial Intelligence Algorithms in Medical Devices Using Brain-Computer Interface Technology"; NHSA Includes Brain-Computer Interface Surgery in Chargeable Procedures, Further Completing the Full Commercialization Loop of Brain-Computer Interfaces in the Medical Field.

On July 30, the Ministry of Industry and Information Technology and six other departments jointly issued the "Implementation Opinions on Promoting the Innovative Development of the Brain-Computer Interface Industry," providing direction for the medium- to long-term development of the industry.

    ZhongguancunYuan Shuai, Deputy Secretary General of the IoT Industry Alliance, believes that brain-computer interface, as a disruptive future industry, has established a comprehensive and forward-looking strategic plan at the policy level, clearly defining key technical directions for breakthroughs at each stage. This guides resources to be precisely concentrated in critical areas, avoiding resource waste caused by blind development.

Driven by both technological implementation and favorable policies, capital investment enthusiasm in the brain-computer interface field continues to rise. Meanwhile, funds from various sources, including national large-scale funds, industrial capital, primary market, and secondary market, are flowing into this promising track of brain-computer interfaces.

According to incomplete statistics, the number of financings in the brain-computer interface field in the first half of this year has exceeded that of the whole last year, and the growth momentum is even stronger in the second half.

In August, Beijing Zhiran Medical Technology Co., Ltd. (hereinafter referred to as "Zhiran Medical") announced the completion of an over 300 million yuan Series A round of financing. The funds will be used for technology research and development and large-scale clinical trials, with participants including government-guided funds, industrial capital, and venture capital institutions.

Zhiran Medical's General Manager and CEO, Song Qi, stated that brain-computer interface, as a hard-tech project with a long R&D cycle and high technical barriers, requires substantial financial support from product development to clinical registration. The success of this round of financing also indicates the market's recognition of the company's development potential in the invasive brain-computer interface field.

Zhang Cuixia, Chief Investment Advisor of Shaanxi Jufeng Investment Consulting Co., Ltd., stated that with the continuous breakthroughs in key technologies such as flexible electrodes and wireless power supply, as well as the expansion of medical insurance coverage, brain-computer interfaces are expected to achieve multi-scenario applications in fields like healthcare, consumer electronics, and industrial manufacturing. She also reminded that the technical routes in this field have not yet fully converged, and uncertainties such as ethical controversies remain. As a result, listed companies mostly indirectly invest through subsidiaries or participating funds to diversify risks.