While Neuralink often captures headlines due to Elon Musk’s high-profile involvement, several pioneering companies are advancing brain-computer interface (BCI) technologies that could transform human-machine interaction and neurological treatments. Just last week, Neuralink secured a further $43 million in a funding round led by Peter Thiel’s Founders Fund, bringing its total funding to $686 million and its valuation to $5 billion.
Integrating BCIs like those being developed by Neuralink — which aim to enable direct brain control over robotic limbs — introduces another layer of complexity, questioning the future of human cognition and the ethical implications of merging our minds with machines.
Tech Funding News took a deeper dive into advancements in neurotechnology from Precision Neuroscience, Inbrain Neuroelectronics, Cognixion, and Synchron. Here’s what we’ve spotted.
Precision Neuroscience
Founders: Benjamin Rapoport and Michael Mager
Founded year: 2021
Total funding: $147M
Founded by neurosurgeon Benjamin Rapoport (Harvard Medical School) and engineer Michael Mager (University of Cambridge) in Manhattan, NY, Precision Neuroscience is developing a groundbreaking minimally invasive brain-computer interface. Their flagship product, the Layer 7 Cortical Interface, features a thin-film microelectrode array that conforms to the brain’s surface, enabling neural data collection without the tissue damage associated with traditional penetrating electrodes.
The company’s strategic approach focuses on creating a reversible and less invasive BCI technology. In November 2024, Precision Neuroscience secured $93 million in Series C funding, bringing its total funding to $147 million. This investment will support product development and regulatory processes, with plans to commercialise their technology in 2025. Initial target applications include stroke rehabilitation and treatment of refractory depression.
Synchron
Founders: Thomas Oxley and Nicholas Opie
Founded year: 2012
Total funding: $134M
In 2012, Thomas Oxley and Nicholas Opie founded Synchron, a US-based neurotechnology company specialising in developing an endovascular brain-computer interface to restore functionality for individuals with severe paralysis. Their Stentrode device is a minimally invasive BCI implanted in blood vessels on the motor cortex’s surface. Synchron’s technology enables patients to control digital devices hands-free by detecting and wirelessly transmitting motor intent from the brain.
Synchron is currently working on integrating its BCI with consumer technologies like Amazon Alexa. This integration aims to enhance functionality and independence for individuals with paralysis by enabling users to control smart devices using their thoughts.
In December 2022, the company raised $75M in a Series C round from Greenoaks Capital Partners, Khosla Ventures, Bezos Expeditions, ARCH Venture Partners, Shanda Group, University of Melbourne, Forepont Capital Partners, Alumni Ventures, Reliance Industries, ID8 Investments, Moore Strategic Ventures, Project XMETIS innovative, NeuroTechnology Investors, and Gates Frontier.
Inbrain
Founders: Carolina Aguilar and José Garrido
Founded year: 2020
Total funding: $75M
A standout in Barcelona’s biomedical ecosystem, Inbrain Neuroelectronics emerged from the Catalan Institute of Nanoscience and Nanotechnology (ICN2) and ICREA. The company leverages advanced graphene technology to develop neural interfaces for treating neurological disorders, particularly epilepsy and Parkinson’s disease. In fact, it has already received FDA Breakthrough Device Designation, highlighting its potential impact in treating these neurological disorders.
Graphene’s high electrical conductivity enables the creation of flexible, high-resolution arrays that can detect neural signals and deliver personalised therapeutic responses. Inbrain plans to integrate this technology into its comprehensive platform, combining hardware and data analytics to decode and modulate neural networks to improve therapy effectiveness and reduce side effects.
In October 2024, Inbrain raised $50 million in a Series B funding round from Avancsa, imec. Xpand, Instituto de Crédito Oficial, EIC Fund, and CDTI Innvierte to accelerate the development of its graphene-based therapeutic neural interfaces and support ongoing clinical trials.
Cognixion
Founders: Andreas Forsland
Founded year: 2014
Total funding: $17.3M
Backed by Amazon, Cognixion focuses on creating accessible solutions for individuals with disabilities using augmented reality (AR) and brain-computer interface technologies. This Californian company has been recognised with prestigious awards, including the Red Dot Best of the Best and Edison Award Gold.
Their flagship product, Cognixion ONE, is an AR device that enables individuals with severe motor impairments — such as those with ALS or cerebral palsy — to interact with digital environments using thoughts and gestures. The Speakprose communication app further extends its mission by facilitating communication through gaze and head-tracking controls. In November 2021, the company secured $12 million in Series A funding from Amazon Alexa Fund, Northwell Health, Prime Movers Lab, and Volta Circle to expand its product development and market reach.
