Precision Neuroscience secures $102M funding for AI-powered brain implant
Precision Neuroscience, a company that focuses on brain-computer interfaces merging AI technology with human intelligence, recently completed a successful Series C funding round, raising an impressive $102 million. This brings their total capital raised to an impressive $155 million, with key investment from General Equity Holdings leading the charge, along with support from Steadview Capital, B Capital, and the Duquesne Family Office, associated with Stanley F. Druckenmiller.
Precision Neuroscience, based in New York, offers a cutting-edge brain implant called the Layer 7 Cortical Interface. This advanced technology molds to the brain’s surface, allowing users to interact with digital devices using only their thoughts. Currently in the testing phase, the Layer 7 implant uses thin-film electrodes to record brain signals, which are then processed by a unit between the scalp and skull. The translated information is then sent to a connected digital device, translating thoughts into actions.
The brain interface space is competitive, with Precision Neuroscience in direct competition with Elon Musk’s Neuralink. Having raised over $685 million since its launch in 2016, Neuralink is a major player in the merging of technology with brain interfaces. Precision Neuroscience itself has seen significant support, closing a previous Series B funding round at $41 million last year.
In addition to Precision Neuroscience and Neuralink, other notable companies in the brain-computer interface field include Synchron. This company focuses on creating neuroprosthesis devices that empower paralyzed patients to control digital devices through their thoughts. For instance, a patient named Mark with ALS successfully controlled his smart home using a brain-computer interface device to interact with an Amazon Fire tablet, showcasing the potential of this technology.
The field of brain-computer interfaces is rapidly evolving, and companies like Precision Neuroscience are at the forefront of this exciting intersection between neuroscience and technology. With substantial funding and groundbreaking technology on the horizon, the future of brain-computer interfaces looks promising.
