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Shares of Dowstone Technology surged after the Chinese producer of non-metallic materials announced a $30 million investment in a domestic brain-computer interface startup to drive the adoption of its carbon materials in emerging sectors.
The company’s stock jumped 11.6%, reaching CNY 23.62 (approximately USD 3.31) per share as of 1:55 p.m. in Shenzhen, after earlier increasing by up to 15%.
Dowstone participated in a pre-B financing round for Brain Family, a Foshan-based firm that specializes in researching and developing non-invasive brain-computer interface technology. Its main products include smart bionic hands, bionic legs, and dexterous robotic hands for industrial applications.
This investment aims to facilitate the use of Dowstone’s carbon materials in manufacturing critical components for brain-computer interfaces, such as electronic skin, the company stated.
Following the latest funding round, Dowstone acquired preferred stock in Brain Family, granting it priority rights over common shareholders in events like liquidation, voting, and repurchase, though the company did not disclose the size of its stake or the participants involved.
Founded in 2007, Dowstone focuses on producing carbon, lithium battery, and ceramic materials. It operates cathode copper and cobalt compounds factories in the Democratic Republic of the Congo—cobalt being a key raw material for lithium-ion batteries.
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