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SUMMARY
- Precision Neuroscience is a neuro tech start-up focused on BCI technology Closed $102M Series C round, total capital raised to $155M.
- Lead Investor: General Equity Holdings; contributed by Steadview Capital, B Capital, and Duquesne Family Office.
- Product: Layer 7 Cortical Interface, a brain implant, to control electronic devices through AI-based BCI.
- Competition: Competes with such firms as Neuralink and Synchron in the highly growing brain-implant market.
Precision Neuroscience Raises $102M Series C to Accelerate Brain-Computer Interface Technology
Precision Neuroscience, a neuro tech startup specializing in BCI technology, has closed its $102 million Series C fund round, bringing the total to capital raised to $155 million. The round was led by General Equity Holdings, with Steadview Capital, B Capital, and Duquesne Family Office, the investment firm founded by Stanley F. Druckenmiller, all making investments.
Their lead product is called the Layer 7 Cortical Interface brain implant that permits thought control of electronic devices. Utilizing thin-film electrodes to read electrical activity in the brain, the local unit positioned between the scalp and skull receives, processes, and then turns brain activity into actions that effect control on related electronics. Currently at the test stages, the company, Layer 7 seeks to accelerate human interaction in the realms of digital technologies using artificial intelligence-powered BCI.
Founded by neurosurgeon Ben Rapoport, who was a former cofounder of Neuralink, Precision Neuroscience competes with other brain-implant firms, such as Neuralink, which has raised over $685 million. Precision's recent funding comes just two months after it secured $93 million in a planned $100 million round, with the company valued around $500 million.
The brain-implant market is burgeoning rapidly, with companies like Synchron making strides in neuroprosthetics. Synchron's stentrode was one such breakthrough device that was capable of allowing patients with paralysis to control digital devices. Such a device was successful in September, as a patient with ALS used the device to control his smart home through Amazon Alexa.
With new funding, Precision Neuroscience will be able to further its development in the BCI field to compete with other companies trying to give patients with disabilities better independence through technology.
Their lead product is called the Layer 7 Cortical Interface brain implant that permits thought control of electronic devices. Utilizing thin-film electrodes to read electrical activity in the brain, the local unit positioned between the scalp and skull receives, processes, and then turns brain activity into actions that effect control on related electronics. Currently at the test stages, the company, Layer 7 seeks to accelerate human interaction in the realms of digital technologies using artificial intelligence-powered BCI.
Founded by neurosurgeon Ben Rapoport, who was a former cofounder of Neuralink, Precision Neuroscience competes with other brain-implant firms, such as Neuralink, which has raised over $685 million. Precision's recent funding comes just two months after it secured $93 million in a planned $100 million round, with the company valued around $500 million.
The brain-implant market is burgeoning rapidly, with companies like Synchron making strides in neuroprosthetics. Synchron's stentrode was one such breakthrough device that was capable of allowing patients with paralysis to control digital devices. Such a device was successful in September, as a patient with ALS used the device to control his smart home through Amazon Alexa.
With new funding, Precision Neuroscience will be able to further its development in the BCI field to compete with other companies trying to give patients with disabilities better independence through technology.
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