Brain-Machine Interface Startup NeuraMatrix Bags A Round of Financing Worth 100 Million Yuan

neuro
(Source: Arabnews)

On Wednesday, NeuraMatrix, a Chinese Brain-Machine Interface (BMI) technology company, announced the completion of a round A of financing with a total amount of 100 million yuan ($15.65 million), led by Huagai Capital, followed by Prosperity7 Ventures and Jingwei Venture Capital.

After completing the A round of financing, NeuraMatrix said that it will increase investment in the R&D and mass production of chips, promote software and hardware development, and accelerate mass production of medical and scientific research equipment.

NeuraMatrix, founded in November 2019, is a startup incubated by Tsinghua University. In March of this year, the company just completed a multi-million dollar Pre-A round of financing. The company’s goal is to build a brain-computer interface platform integrating materials, chips, hardware equipment and software.

NeuraMatrix’s technical focus is an implantable brain-computer interface that will be physically placed within the brain. Because the implantable brain-computer interface can obtain a much more comprehensive high-quality signal from low to high frequencies, as equipment becomes smaller and the progress of implanting technology and materials increases, this new type of brain implant is considered to be better able to meet the needs of medical and intelligent interactions.

SEE ALSO: Qingting FM Completes New Round of Financing, Led by COL, Followed by Xiaomi

According to the company, the commercial chip of bidirectional brain-computer interfaces developed by NeuraMatrix has finished tapeout. It is expected that the mass production of equipment equipped with the company’s self-developed chip will appear early next year. Moreover,, the company’s first prototype of wireless implantable brain-computer interface equipment has also started to be used by customers.

At present, NeuraMatrix has signed a plethora of equipment purchase intent orders with many research institutes, hospitals and pharmaceutical companies.