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A Chinese startup specializing in brain-computer interfaces, BrainCo, has successfully closed a funding round totaling 2 billion yuan (approximately $286.3 million USD), marking the largest investment in the BCI sector outside of the U.S.-based Neuralink, according to reports from Shanghai Securities News.
The round was jointly led by IDG Capital, a private equity firm based in Hong Kong, and Walden International, an investment group founded by former Intel CEO Lip-Bu Tan. Strategic investors in the round included Lens Technology, a company that supplies smart terminal components, and Omnivision Integrated Circuits Group, a semiconductor design firm.
Funds from this round will go toward accelerating research and development of core BCI technologies, achieving engineering innovations, and increasing manufacturing and distribution capabilities, a source from BrainCo, based in Hangzhou, revealed.
BrainCo’s mission over the next five to ten years is to help one million individuals with limb disabilities restore everyday functions and reintegrate into society through neuro-controlled prosthetic devices. The company also aims to improve the lives of 10 million patients dealing with autism, ADHD, Alzheimer’s, and insomnia using BCI technology, while enabling everyday users to interact directly with digital environments through thought, thereby transforming the future of human-computer interfaces.
Founded in 2015, BrainCo has concentrated on non-invasive BCI technologies and has released several mass-market products, including smart prosthetics and sleep aids.
In comparison, Neuralink, the most highly valued BCI company globally, secured a $650 million Series E funding round last year, bringing its valuation to around $9 billion. Its founder recently indicated that the company plans to begin large-scale manufacturing of BCI devices within the year.
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