12 Emerging Companies to Watch in Neurotech Space
Brain-computer interface (BCI) technologies are rapidly becoming the spotlight of the neurotech industry, with Neuralink at the forefront. Recently, Neuralink implanted its first brain chip in a human, marking a significant milestone in human-computer interaction. This implant allows users to control devices with their thoughts, with potential future applications in curing blindness and neuron damage.
A close rival, Synchron, has just announced an innovative use of its BCI system, enabling a patient with ALS to control the Apple Vision Pro using only brain signals. This breakthrough allows for hands-free and voice-free interaction, enhancing accessibility for those with severe motor impairments. The Synchron BCI, implanted through a minimally invasive procedure, detects and transmits motor intent from the brain to control digital interfaces (Med Xpress).
But here, I decided to summarize some lesser-known emerging players in the neurotech space, which are developing intriguing technologies worth keeping an eye on.
1. Arctop
Founded by Dan Furman and Eitan Kay in Los Angeles, California, Arctop develops software that uses artificial intelligence to analyze brain activity. Arctop's tools aim to translate feelings, reactions, and intent, optimizing skill training and enabling new forms of communication.
The company raised $10M in series A funding.
2. Diagnostic Biochips
US-based Diagnostic Biochips, founded by Dr. Brian Jamieson, a former NASA engineer is empowering neuroscientists to conduct advanced electrophysiology research aimed at curing complex neurological diseases such as Parkinson’s and epilepsy. Utilizing patented technologies, including a microfabricated implantable neurosensor and data analysis software, the company provides high-fidelity brain data with exceptional spatiotemporal resolution.
The company has secured $1.1 million in funding.
3. Neurable
Based in Boston and founded by Ramses Alcaide, Neurable aims to eliminate limitations by creating technology that enables control of computers using brain signals. Their brain-computer interface allows users to interact with software and devices solely through brain activity.
The company has raised $13M in its latest funding round.
4. Ceribell
Ceribell, Inc., led by founders Chris Chafe, Xingjuan (Jane) Chao, and Josef Parvizi, has developed the first AI-powered point-of-care EEG diagnostic system. This system aims to revolutionize seizure management in acute care by making EEG diagnostics more accessible, efficient, and cost-effective.
Latest funding — $50M in series C round.
5. Neuromod Devices
Dublin company Neuromod Devices, founded by Ross O'Neill, focuses on developing bi-modal neuromodulation devices to treat tinnitus, a condition characterized by ringing in the ears.
Their flagship product, Lenire, is designed to significantly reduce the suffering of patients with chronic and debilitating conditions.
6. Paradromics Inc.
Founded in 2015 by Andreas Schaefer and Matt Angle, Texan company Paradromics is developing a brain-computer interface (BCI) to aid individuals with severe neurological conditions. This technology focuses on enabling communication for motor-impaired individuals.
The company has received support from NIH, DARPA, and venture capital, raising $50.1 million in Series A funding.
7. BrainCheck
Another Texan company, BrainCheck, founded by neuroscientists including David Eagleman and Yael Katz, offers digital tools for cognitive health. Their platform enables screening, detection of cognitive decline, and care planning.
The company has secured $15 million in funding and integrates its tools into EHR systems for healthcare providers.
8. Omind Neurotechnologies
Based in Paris, France, Omind Neurotechnologies, founded by Jonas Chatel-Goldman, Deborah Varoqui, Guillaume Victor-Thomas, and Nicolas Bassan, develops brain training tools to enhance mental performance and treat mental health issues. With extensive R&D and collaborations with IRBA, CNRS, and AP-HP, they offer personalized and effective training solutions.
They have raised $1.6 million in seed funding and are seeking additional capital.
9. Earable Neuroscience
Earable Neuroscience, based in Boulder, Colorado, is led by founder Tam Vu. The company uses advanced neuroscience to improve daily life, focusing on sleep. Their FRENZ Brainband tracks and stimulates brain activity in real time using bone-conduction speakers.
The company is supported by FoundersFund, SmileGate, 500, and Samsung Ventures, and has won CES Innovation and Red Dot Design Awards in 2023.
10. Neuspera Medical Inc.
Neuspera Medical, Inc., based in San Jose, California, and founded by Alexander Yeh, develops implantable devices to treat chronic illnesses, including urinary urgency incontinence (UUI) and chronic pain. These invasive implants, paired with external wearable transmitters, target hard-to-access anatomical locations.
The company has raised $23 million in Series D funding.
11. Neuronic
Neuronic focuses on enhancing brain capacity through devices that emit near-infrared light, positively impacting memory, movement, and mood stability.
The company, dedicated to advancing photobiomodulation science, invests all profits into ongoing basic science and clinical trials. They aim to develop smart medtech devices that enhance brain function throughout life.
12. Wispr AI
Wispr AI is pioneering personal computing with neural interfaces that allow users to control computers using their thoughts. Their human-centered approach aims to create a more natural interaction with technology. Based in San Francisco and founded by Sahaj Garg and Tanay Kothari.
Wispr has raised over $25 million in funding.
