The State of NeuroTech: Unlocking Minds & New Markets

Overview of the trends, investments, M&A activity, and remaining challenges.

Yuliya Sychikova
COO @ DataRoot Labs
17 Oct 2023
15 min read
The State of NeuroTech: Unlocking Minds & New Markets


In the not-so-distant future, humanity will find itself at the precipice of a remarkable revolution. The steady march of neurotechnology has gifted us with the power to transcend our limitations and unlock the true potential of the human mind. As we merge with machines, becoming superhumans and cyborgs, a thrilling new era dawns upon us. What was science fiction yesterday becomes an imminent reality as the breakthroughs in neuroscience and artificial intelligence converge, leading to fascinating progress in all parts of NeuroTech. Welcome to the extraordinary world of the NeuroTech Revolution.

When thinking about NeuroTech, most of us imagine consumer gadgets that utilize dry electrodes to establish connections between the human brain and computers and leverage sophisticated algorithms to analyze the brain-wave data. That said, there is much more to the field, for instance, lenses to treat migraines, devices for detecting drug cravings, or NeuroModulation techniques for chronic pain relief.

In this NeuroTech Startup Report, we delve into the exciting world of NeuroTech, exploring its definition and main subcategories, the current state of technology, emerging players and models, recent VC deals and exits, as well as a path forward for the industry.

Definitions and key drivers behind NeuroTech growth

So, what is NeuroTech? In short, NeuroTech encompasses any method or electronic device which interfaces with the nervous system to monitor or modulate neural activity. The global NeuroTechnology market size was valued at $13 billion in 2022 and is projected to hit around $38 billion by 2032, growing at a CAGR of 11.5% during the forecast period 2023 to 2032. The increasing prevalence of neurological disorders, coupled with advancements in neuroscience, hardware, and AI and growing interest from investors and governments, is fueling the market expansion.

In addition, partly due to Elon Musk’s popularization of NeuroTech through his company Neuralink, there is a growing interest among consumers in improving cognitive abilities, memory, and focus. Many companies are capitalizing on this trend by developing brain-training games, wearables, and other brain-enhancement devices, creating a new market segment.

The current state of technology in the NeuroTech market is awe-inspiring. Brain-computer interfaces (BCIs) are one of the most significant breakthroughs, enabling direct communication between the brain and external devices. BCIs have applications ranging from assisting individuals with paralysis to controlling prosthetic limbs to enhancing human-computer interactions.

Non-invasive NeuroStimulation techniques are another area of rapid development. Transcranial magnetic stimulation (TMS) and transcranial direct current stimulation (tDCS) are being explored to treat neurological conditions such as depression and migraines.

Additionally, NeuroImaging technologies, such as functional magnetic resonance imaging (fMRI) and electroencephalography (EEG), are playing a crucial role in understanding brain function, allowing researchers to decode brain activity and create personalized interventions.

Rapid progress leads to unprecedented investments in brain research and NeuroTechnology development are being made by funds, foundations, companies, and governments worldwide. According to Deep Knowledge Ventures, investments in NeuroTech companies have gone up over 600% from $1.1 billion in 2014 to $7.1 billion in 2021.

Large-scale and interdisciplinary research initiatives have led to advanced new technologies with the ultimate goal of translating these breakthroughs into tangible products that improve our lives.

AI's role in encoding and decoding information from and into the brain involves the application of algorithms to interpret neural signals and translate them into machine-readable commands and, conversely, to generate specific stimulation patterns that can convey information back to the neural tissue. This bidirectional process leverages machine learning and signal processing techniques, forming the core of advanced BCI systems.
Ivan Didur

Subcategory of NeuroTech and their applications

  • Brain-Computer Interfaces (BCI) - a direct communication pathway between the brain's electrical activity and an external device, most commonly a computer or robotic limb. They allow paralyzed individuals to write and control motorized wheelchairs, or prosthetic limbs with their thoughts. Current devices require conscious thought, but future applications may become effortless. Traditional BCIs involve implanted devices controlled as a natural part of the brain's representation of the body and a major challenge is developing minimally invasive electrode devices or surgical methods. The role of AI/ML algorithms is where they convert brain activity data into a programmable understanding of the brain's intentions. However, looking ahead, the ultimate goal of this technology is to create a tertiary cortex, an additional level of human brain function resembling an executive function, granting us almost superhuman capabilities.

  • NeuroFeedback - real-time displays that measure brain waves to produce a signal used as feedback to teach the self-regulation of brain function. NeuroFeedback therapy aims to help patients consciously control their brainwaves by measuring specific brainwave patterns associated with different issues. For instance, alpha waves are targeted to address stress and anxiety, while beta waves are focused on improving attention and focus related to ADHD. It’s also been used to treat epilepsy, anxiety, depression, and insomnia, among other mental health disorders. NeuroFeedback is not just for therapy; it is also used for healthy individuals to enhance cognitive regulation skills based on their specific goals. Despite being a non-invasive procedure, however, its credibility has been doubted due to a lack of conclusive scientific evidence.

  • NeuroModulation - is the alteration of nerve activity through targeted delivery of a stimulus, such as electrical stimulation or chemical agents, to specific neurological sites in the body. NeuroModulation devices and treatments have the power to bring life-changing effects. While chronic pain relief is a common application, NeuroModulation extends to diverse areas, such as treating Parkinson's disease with deep brain stimulation, pelvic disorders with sacral nerve stimulation, and ischemic disorders using spinal cord stimulation. Moreover, these devices can even restore lost functions, like hearing and vision in a deaf and blind patient accordingly.

  • NeuroMonitoring/Imaging - are the methods for the scanning of the brain and spinal cord's physiological functioning, including the assessment of its anatomical/physiological integrity. NeuroMonitoring involves recording and analyzing electrical or physiological signals from the brain, while NeuroImaging encompasses various imaging modalities, such as magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), and functional magnetic resonance imaging (fMRI), to visualize brain structures and activities. These tools are essential in research, diagnosis, and treatment planning for neurological conditions and cognitive disorders.

  • Cognitive Assessment & Enhancing - supplements, drugs, and actions that can increase the brain’s performance on key intellectual measurements. Studies have demonstrated that cognitive function can be improved through meditation, video games, novel drugs, nutritional supplements, brain stimulation, exercise, music, and cognitive training enabling better problem-solving abilities, potential IQ increase, and enhanced understanding of fresh viewpoints.

  • Neural Prostheses & Simulators - are a series of devices that can substitute a motor, sensory or cognitive modality that might have been damaged as a result of an injury or a disease. Examples include devices to improve hearing, vision, motor, and cognitive functions. Neural simulators, also known as computational models or brain simulators, are software or hardware systems designed to mimic the behavior of the human brain or specific neural circuits. These simulators employ complex algorithms and mathematical models to simulate the interactions between neurons and synapses in the brain.

While in this report we cover the main subcategories mentioned above, there are many others to explore, including NeuroPharmacology, Gene Therapy, Cyberkinetics, NeuroInformatics & more.

Neurotech main Innovators

Innovation landscape of venture-funded companies in NeuroTech space.

We have compiled a list of 100+ startups that make significant contributions to the NeuroTech space and raised venture funds to spur future growth. To do that, we've leveraged public sources such as Crunchbase, Tracxn, Pitchbook, and website data.

Innovation landscape of venture-funded companies in NeuroTech space.

Innovation landscape of venture-funded companies in NeuroTech space.

Let's take a closer look at how various startups advance their mission in NeuroTech.

In Brain-Computer Interfaces (BCI), Elon Musk’s Neuralink device is developing a coin-sized surgical implant, fully implantable & cosmetically invisible, that closely monitors brain activity. The Link uses micron-scale wires of electrodes with the primary goal to treat paralysis. "I think it's going to blow your minds," Musk said. "It's like a Fitbit in your skull with tiny wires.

In addition, the company is developing a surgical robot to insert the fine threads of their implant exactly where they need to be. Neuralink has been recently approved for human testing.

[Neuralink's]( brain implant.

Neuralink's brain implant.

Backed by Bill Gates and Jeff Bezos, Synchron aims to avoid the need for open brain surgery by using a minimally-invasive procedure. Their device, the stentrode™, 8mm in diameter and made from a flexible alloy called nitinol, is inserted into Superior Sagittal Sinus in the brain via the jugular vein. Then it transmits neurological signals to a receiver unit implanted into the patient’s chest, which then translates thoughts into clicks and keystrokes on a computer or mobile device in real-time. Their end-user software™ is a hands-free, thought-controlled platform that uses translated brain signals to restore motor capabilities, allowing patients to restore motor capabilities including control of digital devices. Synchron became the first company to receive an FDA IDE to conduct trials of a permanently implantable BCI.

The stentrode™ by [Synchrone](

The stentrode™ by Synchrone.

InnerCosmos is developing Digital Pill, a penny-sized device slipped under the skin, to alleviate cognitive disorders. It rebalances brain networks using imperceptible micro-stimulations and eliminates the need for multiple, day-long trips to the clinic required by NeuroStatic approaches like TMS, ECT, and ketamine. It delivers precise electrical stimulation to the brain, targeting imbalanced networks associated with depression. Unlike traditional invasive cranial surgery, the Digital Pill provides safe and non-invasive stimulation through the cranium.

Blackrock Neurotech designs a neurotechnology platform to record bio-potentials from the central and peripheral nervous systems in chronic and acute applications. They are engineering the next generation of neural implants, including implantable BCI technology that restores function and independence to individuals with neurological disorders.

Using their brain tech, BCI Pioneers have been able to eat, drink, send emails, and operate robotic arms just by thinking. Their technology allegedly can enable accurate brain typing at up to 90 characters per minute with an impressive 94% accuracy. Others use their BCI to play video games, Photoshop, and even paint using brain-controlled robotic arms.

[Blackrock Neurotech]( brain implant BCI.

Blackrock Neurotech brain implant BCI.

Born out of the University of Michigan’s Direct-Brain Interface Laboratory (UM-DBI), Neurable has announced a $6 million Series A round of funding to develop the everyday non-invasive brain-computer interface that will take a headphones form factor and target consumers. These headphones aim to keep you focused by canceling noise.

Enten, noise-canceling Bluetooth headphones by [Neurable](

Enten, noise-canceling Bluetooth headphones by Neurable.

In NeuroFeedback, EMOTIV, Muse, NeuroSky MindWave, and Melomind have been competing in portable personal EEG devices that decode cognition and behaviors in real-time to improve mental well-being, learn faster, and make better choices. EMOTIV boasts the most sensors and more accurate data, while NeuroSky MindWave Mobile and Muse tend to make meditation more comfortable.

Sleep tracking companies Dreem and NeuroVigil offer products designed to enhance sleep by analyzing a person's sleep stages in real-time and processing the data with ML algorithms to provide personalized metrics and results applicable for clinical trials, communication, and space applications.

Another company, Neurotype created a mobile brain-sensing electroencephalogram device that detects drug cravings in patients undergoing treatment for opioid use disorder, enabling clinicians and patients to get improved mental and behavioral healthcare.

Being the only FDA-cleared non-invasive medical device, BrainScope objectively assesses head-injured patients for both brain bleeds & concussions at the point of care, starting with mild traumatic brain injury (mTBI), utilizing multiple integrated assessment capabilities, AI, and digitization. Developed in part with funding from the Department of Defense with over 12 years of evidence-based research and development, eight separate DoD research contracts, and two GE NFL Head Health Challenge awards, their device has significant application potential in military and veteran medicine.

[Brainscope]( device.

Brainscope device.

In NeuroModulation, Aleva Neurotherapeutics pioneered Directional Deep Brain Stimulation (DBS) in NeuroModulation treatment of Parkinson's disease & essential tremor.

Axoft developed implantable electronics designed to amplify brain-machine communication. The company's technology specializes in brain implants made out of ultra-flexible plastic mesh, softer than plastic and silicone implants, which are scalable and capable of integrating many sensors into one implant with the same mechanical properties as the brain, for the treatment of neurodegenerative conditions like Parkinson's disease.

[Axoft’s]( implant mimics the soft tissues which surround it while maintaining resilience against the harsh conditions of the brain.

Axoft’s implant mimics the soft tissues which surround it while maintaining resilience against the harsh conditions of the brain.

Soon to complete pivotal clinical studies, Cadence Neuroscience is developing a fundamentally new approach to NeuroModulation. Their system can detect specific signals from the brain and deliver chronic subthreshold cortical stimulation to modify the activity of neural circuits. Based on pioneering research performed at Mayo Clinic, their technology can be used for treating pediatric and adult patients with focal drug-resistant epilepsy by reducing or eliminating seizures.

Saluda Medical is the first to directly measure the spinal cord's physiologic response to stimulation using Evoked Compound Action Potentials (ECAPs) to pioneer smart NeuroModulation therapy for the treatment of chronic pain. The Evoke System automatically reads, records, and responds to the nerves’ response to stimulation 4+ million times a day to provide continually optimized therapy and is proven to be superior to open-loop SCS for the treatment of overall trunk and/or limb pain.

Neurotrack's rapid digital cognitive screening offers a quick 3-minute assessment to identify patients with cognitive impairment. Designed to seamlessly integrate into primary care annual wellness visits, the tool provides instant, culturally agnostic, and objective scoring without the need for specialized training.

Neurotrack has conducted over 170,000 cognitive assessments on its platform. In recognition of its impact, Neurotrack was named the winner of the Alzheimer's Association Pitch Competition in February 2023, focusing on innovations to enhance cognitive assessment and early detection of dementia in primary care settings.

In NeuroMonitoring/Imaging, Ceribell is focused on making EEG widely accessible and more efficient for patients at risk for seizures. Individuals with no prior background in EEG can detect and rule out suspected seizures with remarkable accuracy. The System can be set up by any healthcare provider within minutes and offers 24/7 continuous bedside EEG monitoring and alert.

FDA-cleared instantaneous bedside alert system by [Ceribell](

FDA-cleared instantaneous bedside alert system by Ceribell.

Kernel has recently unveiled the Flow2 system, a headset that offers researchers and clinicians remarkable access to powerful neuroimaging, resembling functional magnetic resonance imaging (fMRI), but in a more rapid and user-friendly manner. Flow2 combines time-domain functional near-infrared spectroscopy (TD-fNIRS) technology with electroencephalography (EEG), providing an exceptionally comprehensive perspective on brain activity. This enables researchers and clinicians to explore the intricate operations of the brain in greater detail.

[Kernel Flow]( wearable headset.

Kernel Flow wearable headset.

In Cognitive Assessment and Enhancement, specializes in creating music and soundscapes for improving focus, relaxation, and sleep. The company utilizes AI and ML to develop personalized soundscapes for each user.

[]( music impact on the brain. music impact on the brain.

MindMaze develops digital neurotherapeutics devices to accelerate the brain's ability to recover, learn, and adapt. The company utilizes immersive virtual reality, motion capture, and neurophysiological recording technologies to build novel interfaces for neurorehabilitation, game training, and three-dimensional imaging in real-time, enabling patients to restore motor function after stroke or brain trauma. It has recently launched Izar, a smart peripheral for hand dexterity assessment and training to address neurological conditions like Alzheimer's, TBI, Parkinson's, and stroke, offering in-clinic or at-home training and assessment. Izar is hyper-sensitive, catering to the most impaired patients, and includes engaging gaming content for self-training.

[MindMaze's]( MindMotion home therapy program.

MindMaze's MindMotion home therapy program.

In NeuralProsthesis & Simulators, MELTIN utilizes biomimetic robotic technology to replicate human body movements, enabling delicate, dexterous, and powerful finger motions. This "robotic neurorehabilitation device" facilitates the essential "pinching" action used in occupational therapy by accurately mimicking fine movements. Worn on the body, the device employs a wire-driven mechanism to provide strong assistance, allowing individuals with spasticity to open their hands with their strength.

[MELTANT-α](, a concept cyborg model developed by MELTIN.

MELTANT-α, a concept cyborg model developed by MELTIN.

The Ukrainian-rooted company, Esper Bionics, has developed a groundbreaking mind-controlled prosthetic arm that allows users to control the device using their thoughts. The cutting-edge technology utilizes a non-invasive BCI, enabling the user to move the prosthetic arm with precision and naturalness. The device offers hope for amputees and individuals with limb impairments, as it aims to provide them with enhanced mobility and independence through intuitive mind control.

[Esper Bionics]( prosthetic arm.

Esper Bionics prosthetic arm.

Other examples of interesting NeuroTech applications include companies like BIOS which has developed neural interfaces and AI that, for the first time, can read and write the body's neural data, or “code”, to understand and correct those signals in real-time. BIOS envisions a new field of digital health treatments that uses this new data-driven insight from the nervous system to create better, more targeted medicine.

In Ophthalmology, Neurolens designed prescription lenses that add a contoured prism to align the eyes. Neurolenses are proven to have a profound impact on a patient’s visual clarity and comfort. Over 81% of patients suffering from chronic daily headaches reported their symptoms were substantially reduced or “basically gone” after wearing Neurolenses for 90 days.

Innervace is developing technology that acts as pre-formed, anatomically-inspired, implantable tissue pathways to directly replace lost connections due to brain degeneration or injury.

In the table below, we have assembled a list of startups that recently raised capital and are players “to watch” poised for success.

CompanyHQ / year foundedAmount Raised, $InvestorsWhat they are doing
AAVAA Canada / 2019$2.17M / Pre-SeedGovernment of Canada, Anges Quebec, AQC Capital, TandemLaunch
AAVAA develops bionic technology allowing users to control external devices using only their brain, head or eye movement, or facial gestures. Inital markets include Assistive Technologies including attention-directed hearing devices, AR/VR and hands-free operation of any digital device.
Actipulse Neuroscience USA / 2017$840K / SeedY Combinator, Start-Up Chile
Actipulse Neuroscience is a neuro-tech company specialized in the research and engineering of Non-Invasive Brain Stimulation technologies for the treatment of psychiatric and neurological disorders. Their proprietary brain stimulation device allows patients to be treated directly from their home, with the same efficacy, and at a lower cost of treatment.
Akili Interactive Labs USA / 2011$301.1M / DSilicon Valley Bank, Temasek Holdings, Massachusetts Life Sciences Center, Neuberger Berman Group
Akili creating a new class of digital medicines for people living with cognitive impairments, delivered through captivating video game experiences. Built on extensive peer-reviewed research, Akili’s products are designed to deliver sensory and motor stimuli to selectively target and activate specific cognitive neural systems in the brain. The proprietary technology is engineered to directly generate physiological changes in the brain to improve cognitive function.
Aleva Neurotherapeutics Switzerland / 2008$65.3M / Corporate RoundVenture Kick, Foundation for Technological Innovation (FIT), BioMedPartners, Banexi Ventures, Forrestal Capital
Aleva Neurotherapeutics pioneered Directional Deep Brain Stimulation DBS in Neuromodulation treatment of Parkinson's disease & essential tremor.
Arctop USA / 2016$5M / SeedMetropolis Ventures
Arctop is a pioneer in the neurotechnology industry. Arctop’s software analyzes brain signals from consumer headwear – such as a hat or headband – and produces an accurate measure of the mind in real-time. The technology can perform high-fidelity decoding of emotion, attention and memory processes – “reading the brain” – outside of laboratory settings, paving the way for integration with personal entertainment and education systems, voice assistants, telemedicine networks, IoT devices, mobile apps and more. Arctop is a pioneer in the neurotechnology industry. Arctop’s software analyzes brain signals from consumer headwear – such as a hat or headband – and produces an accurate measure of the mind in real-time. The technology can perform high-fidelity decoding of emotion, attention and memory processes – “reading the brain” – outside of laboratory settings, paving the way for integration with personal entertainment and education systems, voice assistants, telemedicine networks, IoT devices, mobile apps and more. Arctop’s first product, Neuos Eureka, is an on-demand brain decoding software platform that provides research-grade audience insights to producers of video and gaming content.
Axoft USA / 2021$8M / Non Equity AssistanceIntel Ignite
Developer of implantable electronics designed to amplify brain-machine communication. The company's technology specializes in brain implants made out of ultra-flexible plastic mesh which is softer than plastic and silicone implants which are scalable and capable of integrating many sensors into one implant with the same mechanical properties as the brain, enabling patients to access suitable medical technology for the treatment of neurodegenerative conditions like Parkinson's disease.
Axonics, Inc USA / 2013$735.6M / Post-IPOAndera Partners, Longitude Capital, Gilde Healthcare
Axonics® is dedicated to improving the quality of life of people suffering from bladder and bowel dysfunction, conditions that impact the lives of tens of millions of adults globally. The Company’s products include the Axonics Sacral Neuromodulation System designed to treat overactive bladder and fecal incontinence and the Bulkamid® hydrogel designed to treat women with stress urinary incontinence.
Bioinduction UK / 2005$12.5K / GrantInnovate UK, SBRI Healthcare
Bioinduction is manufacturing unique implantable neuromodulation devices. These include the Finetech-Brindley bladder control system and Picostim, a unique skull-mounted deep brain stimulator (DBS) platform which is just 7cc but incorporates advanced features such as neural recording and target steering.
BIOS UK / 2015$5.7M / SeedReal Ventures, AME Cloud Ventures, Ariel Poler, Innovate UK
BIOS has developed neural interfaces and AI that, for the first time, can read and write the body’s neural data, or ‘code’, to understand and correct those signals in real-time. BIOS envisions a new field of digital health treatments that use this new data-driven insight from the nervous system to create better, more targeted medicine.
BioSerenity France / 2014$88.7M / Corporate RoundScor, Dassault Systemes, LBO France, Bpifrance
BioSerenity is an innovative company that develops connected medical solutions to help the diagnosis and the monitoring of patients with chronic diseases in cardiology, neurology, and sleep disorders. It uses physiological sensors, an IoT platform, apps and A.I. to detect digital biomarkers.
Bitbrain Spain / 2010$1.7M / GrantEASME - EU Executive Agency for SMEs
Developer of neurotechnology designed to offer self-managed sleep monitoring and assessment. The company engages in the development of wearable technologies for individual cognitive improvement and mental training, enabling research, tech and health professionals to help with human behaviour research, health and neurotech development.
Blackrock Neurotech USA / 2015$10M / PE Roundre.Mind Capital
Developer of a neurotechnology platform designed to record bio-potentials from the central and peripheral nervous system in both chronic and acute applications. They are engineering the next generation of neural implants, including implantable brain-computer interface technology that restores function and independence to individuals with neurological disorders.
Brain Stimulation Sweden / 2011$1M / SeedBackingMinds, EASME - EU Executive Agency for SMEs, Almi Invest
RehAtt® MR provides individualised rehabilitation for cognitive and motor functions in a fun, realistic, and stimulating Mixed reality environment.
Brain.Fm USA / 2003— / SeedSlow Ventures is a neuroscience-backed company that specializes in creating music and soundscapes for improving focus, relaxation, and sleep. The company utilizes artificial intelligence and machine learning to create personalized soundscapes for each user, catering to their individual needs.
Braingineers Netherlands / 2015$1.8M / SeedJOA Ventures
Developer of an AI emotion analytics platform designed to help companies understand how their content affects users' emotions and behavior.
Brainhero Austria / 2018$2.76M / GrantEuropean Innovation Council, xista science ventures, SE Fund, Seeedblink, ARAX Smart Capital
Brainhero’s vision is to help people with neurological impairments realize their full brain potential using affordable and widely available technologies that are easy to use. Thus, parallel to the development of Brainhero for children with ASD (Autism Spectrum Disorder), the adapted solution for ADHD (Attention Deficit Hyperactivity Disorder) diagnosed children between 6 and 18 years of age has already been developed. With the latest EIC investment the company will extend its target group - aiming for a home treatment platform that can help a larger patient group.
Brainomix UK / 2010$35M / BEASME - EU Executive Agency for SMEs, Parkwalk Advisors, Boehringer Ingelheim Venture Fund, Chimera Partners
Brainomix specializes in the creation of AI-powered imaging biomarkers to enable precision medicine for better treatment decisions. Since launching as a spin-out from the University of Oxford in 2010, they have developed award-winning, AI-powered imaging biomarkers and software solutions, assisting physicians across the world to make better life-saving decisions.
BrainPatch UK / 2018$1.1M / Pre-SeedEASME - EU Executive Agency for SMEs
BrainPatch is a Neurotechnology startup disrupting the industry of non-invasive brain stimulation. They have developed the neuro-technological platform comprising a patented Neuro headphone device and software infrastructure. The platform gives access to various non-invasive brain stimulation applications. The sensations range from instantaneous stress relief and relaxation to productivity boost and meditation-like clear-head effects at a push of a button.
BrainQ Israel / 2016$48.8M / VentureHanaco Venture Capital
BrainQ technologies is a Bioelectric medicine company committed to advancing the field of neurorecovery through innovative solutions. Utilizing machine learning and neural engineering techniques, the company aims to enhance the lives of individuals affected by stroke and other neurodegenerative diseases and improve brain function and overall quality of life.
BrainScope USA / 1990$87.1M / DebtAon plc, DBL Partners
BrainScope is a medical neurotechnology company that is improving brain health by providing objective, diagnostic insights that enable better patient care. BrainScope is leading the way in the rapid and objective assessment of brain-related conditions, starting with mild traumatic brain injury (mTBI), utilizing multiple integrated assessment capabilities, artificial intelligence (AI), and digitization.
Brainsway Israel / 2003$65.5M / Post-IPOYelin Lapidot Investment House
A global medical technology company, BrainsWay focuses on developing cutting-edge medical devices that help advance the field of mental healthcare. Their advanced flagship technology of Deep Transcranial Magnetic Stimulation (Deep TMS™) is expanding the treatment of mental health beyond what was thought possible. Austria / 2022$2.2M / Pre-Seedxista science ventures
Brightmind.AI’s creates personalized non-invasive brain stimulation solutions that are available in homes worldwide, offering to address globally important challenges to brain health such as pain relief, preventing cognitive decline, and treating depression.
Cadence Neuroscience USA / 2017$41M / BAngelini Lumira Biosciences Fund, Epilepsy, Jazz Venture Partners
Cadence Neuroscience is developing a fundamentally new approach to neuromodulation. Their system has the ability to detect specific signals from the brain and deliver electrical stimulation to modify the activity of neural circuits. Based on pioneering research performed at Mayo Clinic, their technology provides a personalized approach with unprecedented potential to treat many neurological diseases that cannot be adequately addressed with available treatment options.
Cala Health USA / 2014$148.3M / DAscension Ventures, Action Potential VC, GV, Johnson & Johnson and Lightstone Ventures
Developer of neuromodulation devices designed to optimize the standard of care for chronic diseases. The company's wearable neuromodulation therapies merge innovations in neuroscience and technology to deliver individualized peripheral nerve stimulation, thereby enabling patients to reduce tremors and ensure relief.
CereGate Germany / 2019— / Bre.Mind Capital, 468 Capital, Heal Capital, High-Tech Grunderfonds
CereGate is developer of a computer-brain-interface platform intended to transmit information to the brain. The company's platform augments the programming of neuromodulation systems such as implants that are placed into the brain or spinal cord, enabling patients with neurological disorders or sensory deficits to access new opportunities to adapt and improve their condition under their own power.
Cerego USA / 2000$35M / DebtBrainstorm Ventures, NTT DOCOMO Ventures
Cerego is a predictive learning platform that measures and improves how people learn. The platform's learning engine helps individuals build and retain knowledge for any content by identifying the most efficient learning path for each user with Machine Learning and Artificial Intelligence. Measurement of individuals and cohorts delivers customized predictive analytics and provides managers, educators and leaders with actionable data about the material, learners, and their future performance.
Ceribell USA / 2014$220.5M / CAlly Bridge Group, The Rise Fund, Longitude Capital, Horizon Technology Finance, Optimas Capital Partners Fund
Ceribell is a medical device start-up company with a mission to improve neurological care for emergency and ICU patients. Ceribell is focused on making EEG widely accessible, more efficient, and more cost-effective to improve the diagnosis and treatment of patients at risk for seizures. The System can be set up by any healthcare provider within minutes. Now with Clarity, Ceribell offers 24/7 continuous bedside EEG monitoring and alert.
ClearPoint Neuro USA / 1998$107.6M / Post-IPOPetrichor Healthcare Capital Management
Develops and commercializes platforms for performing minimally invasive surgical procedures in the brain and heart under direct, intra-procedural magnetic resonance imaging (MRI) guidance.
Cognixion USA / 2014$18M / SeedPrime Movers Lab, Amazon Alexa Fund
Developer of an AI and AR-based application for speech-impaired individuals. It allows users to leverage taps and gestures for engaging in conversation and allows them to customize icons or pictures for key phrases to express themselves.
CoMind UK / 2017— / GrantThe Thiel Foundation, Octopus Ventures, Boost VC
CoMind is a Neurotechnology start-up developing a next-generation neurosensing platform. Not only are CoMind's devices non-invasive and affordable, but they're also portable and will eventually be wearable, allowing them to become ubiquitous. In the long term, this neurosensing technology will form the foundations for a seamless neural interface that will allow engineers to build applications for the brain.
CorTec Germany / 2010$8.7M / Venture roundEuropean Innovation Council
CorTec is developing implants serving as a direct interface between the brain and technology. CorTec Brain Interchange is a new brain pacemaker technology for the treatment of neurological diseases. The completely implantable system is able to record brain activity and influence it by electrical stimulation. The unique feature of CorTec Brain Interchange is that it can control itself (closed-loop technology): the system records the brain’s activity and thus the effect of its stimulation. It then aligns its further activities with the recorded data.
Cortical Labs Singapore / 2019$10.7M / SeedHorizons Ventures, Blackbird Ventures
Cortical Labs is a biological computing startup that combines lab-grown human brain cells with computer chips.
CortiCare USA / 2010— / Private EquityHCAP Partners
CortiCare provides continuous EEG Services for the ICU, NICU or EMU using a robust infrastructure of monitoring personnel and reading neurophysiologists. Their clinical team provides immediate notification of patient events so physicians can interpret neurocritical care data in real-time. CortiCare is also a leading provider of in-home ambulatory Video-EEG and routine EEG studies.
Cumulus Neuroscience UK / 2015$23.4M / Venture RoundDementia Discovery Fund
Cumulus Neuroscience has created a next-generation integrated physiological and digital biomarker platform. In clinical trials it provides the critical data and insights needed to accelerate the delivery of more effective CNS drugs to patients.
Curonix USA / 2010$115.8M / Venture RoundBioAccel, City Of Peoria
Curonix strives to improve people’s lives through utilizing wireless neurostimulation technology that enables low cost alternatives to complicated and expensive surgery, coupled with convenient and safe methods of use easily incorporated into everyday life.
Dreem USA / 2014$57M / VentureQuentin Soulet
Developer of a sleep tracking technology product designed to enhance sleep. The company's product is a machine headband that automatically analyzes a person's sleep stages in real-time, processes the data with machine learning algorithms to provide personalized metrics and AI-powered tips that constantly evolve based on sleeping habits, enabling users to fall fast asleep, get deep sleep and wake up refreshed.
Earable Neuroscience USA / 2018$8.7M / SeedSamsung Ventures, Smilegate Investment, Founders Fund
Earable is a maker of FRENZ®, an AI-powered Brainband that helps people fall asleep faster and sleep deeper.
electroCore USA / 2005$145.5M / Post-IPOMerck Global Health Innovation Fund
electroCore, Inc. is a commercial-stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. The Company’s focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
Emotiv USA / 2011$120K / Pre SeedDisney Accelerator
Since its founding in 2011, EMOTIV has continued to lead innovation in wireless EEG, developing solutions for a wide variety of applications, including scientific and consumer research, product innovation and workplace wellness, as well as powering a global network of developers and citizen scientist who have created ingenious and inspiring and enabling solutions.
eNeura USA / 2000$75.8M / Debt FinancingCamden Partners, MedVenture Associates
ENeura Therapeutics is a medical technology company developing transcranial magnetic stimulation devices for the treatment of migraines. SAVI Dual is the only FDA cleared central neuromodulation therapy developed to treat acute attacks and prevent future migraine days.
Epitel USA / 2017$20.4M / ANational Institutes of Health, Catalyst Health Ventures, Genoa Ventures
Developer of a device designed to improve seizure monitoring and detection. The company’s first commercial product, REMITM Remote EEG Monitoring System, is FDA cleared for near real-time and/or remote EEG monitoring for up to 48 hours in a professional healthcare facility. The company's sensors are applied with easy-to-use stickers, enabling physicians to access brain health insight to improve quality of care.
Esper Bionics USA / 2019— / Seed SMRK VC Fund
Esper Bionics is a pioneer engineering company focused on mechatronics, AI, and IoT technologies for Human Augmentation. They are building the first bionic ecosystem of connected devices to push the boundaries of human potential and unleashing a world of new possibilities.
Feelmore Labs USA / 2016$20M / BM13
Fisher Wallace Labs USA / 2007$8.3M / Venture RoundSHUFL Capital
Developer of wearable brain stimulation technology designed to treat depression, anxiety, and insomnia. The company offers patients and providers a treatment option that is fast-acting, effective, safe, and self-administered, enabling users to manage their sleeping patterns and stress in an efficient manner.
Flow Neuroscience Sweden / 2016$12.6M / AZühlke Ventures AG, SwissHealth Ventures, Khosla Ventures, Redstone
Flow Neuroscience offers medical devices intended to treat depression and other mental disorders. Their “medication-free” treatment involves a wearable device that links to a mobile app. This system can then drive users to engage in activities that can help them cope with depression.
g.tec medical engineering Austria / 1999
As a producer of state-of-the-art invasive and non-invasive BCI systems with sales and research partners worldwide, g.tec is a leader in the fields of BCI, medical devices, neurotechnology, neurorehabilitation and biosignal processing.
Healium USA / 2016$5M / SeedMassChallenge
Healium is a mental health, wellness, and performance training company. Their patented augmented and virtual reality solution improves stress management, mental focus, and human performance. Healium reduces stress, pain, and addiction, as well as anxiety by a third in as little as four minutes. Their technology is scientifically proven to improve mental focus, productivity, and performance.
Hocoma Switzerland / 1996$265KEurostars SME programme
Hocoma is an industry leader in robotic rehabilitation therapy for neurological movement disorders.
IDUN Technologies Switzerland / 2017$5M / SeedMica Ventures, Joyance Partners, SONY Europe, Privilège Ventures
Provider of a brain analytics platform enabled by in-ear EEG earbuds. It empowers businesses and researchers to build brain-powered products and services for a wide range of use cases, such as sleep, hearing, and cognitive workload.
INBRAIN Neuroelectronics Spain / 2019$39.5M / Non-equity AssistanceEuropean Innovation Council, MedTech Innovator, BStartup, Asabys Partners, Alta Life Sciences
A medical device company that provides high-density and resolution graphene intelligent neural systems, INBRAIN Neuroelectronics uses graphene to develop neural interfaces that can read and modulate brain activity at high resolution and detect therapy-specific biomarkers and trigger highly focal adaptive neuromodulation, helping patients to obtain optimal results in personalized neurological therapies.
Inner Cosmos USA / 2019$10M / Seedlool Ventures
Developer of a brain-computer interface designed to alleviate cognitive disorders. Their Digital Pill is a penny-sized device slipped under the skin. It rebalances brain networks using imperceptible micro-stimulations.
Innervace USA / 2018$40M / ADeerfield
Innervace is a regenerative therapy company developing technology that acts as pre-formed, anatomically-inspired, implantable tissue pathways to directly replace lost connections due to brain degeneration or injury.
InSightec Israel / 1999$732.9M / DebtKoch Disruptive Technologies, GE Healthcare, NHS England, Elbit Imaging
Insightec is a global healthcare company creating the next generation of patient care by realizing the therapeutic power of acoustic energy. The company's Exablate Neuro platform focuses on sound waves, safely guided by MRI, to provide tremor treatment to patients with Essential Tremor and Parkinson's Disease.
Inspire Medical Systems USA / 2007$319.4M / Post-IPOOrbiMed, Medtronic, Synergy Life Science Partner, Guggenheim Securities, Amzak Capital Management, SVB Securities
Inspire Medical Systems has developed the world’s first fully implanted neurostimulation device approved by the FDA for the treatment of Obstructive Sleep Apnea (OSA). The Inspire system uses neurostimulation technologies and incorporates a proprietary algorithm that stimulates key airway muscles based on a patient’s unique breathing patterns. Inspire therapy is designed to reduce OSA severity and improve quality of life for patients living with this condition.
Kernel USA / 2016$152M / CGeneral Catalyst, Bryan Johnson
Kernel aims to revolutionize precision neuroscience by using their proprietary, first-in-class neurotechnology to build the world's most comprehensive portfolio of brain-based biomarkers. Their mission is to accelerate treatment discovery, improve patient outcomes, and transform neuromedicine.
Koniku USA / 2015$49.2M / ASOSV, IDO Investments, Platform Capital
Developer of an organic neurocomputation platform designed to interface with the real world through real biological neurons. Their technology combines live cells with silicon to detect smell on a planet scale
Looxid Labs South Korea / 2015$4.9M / AHastings Asset Management
Looxid Labs is to seamlessly integrate an emotion recognition system with VR (virtual reality) using eye and brain interface. Looxid Lab’s emotion recognition system for VR users analyzes users’ emotional states in real-time by measuring users’ physiological information including brainwave, eye-movement, and pupil size, and employing ‘machine learning’ algorithm.
Magnus Medical USA / 2020$25M / ARed Tree Venture Capital, Jazz Venture Partners
Magnus Medical aims to transform lives by restoring mental health via developing brain stimulation technology for the treatment of neuropsychiatric disorders. Its first product is the SAINT™ Neuromodulation System, granted Breakthrough Device Designation and 510(k) clearance by the U.S. FDA in September 2022 for the treatment of major depressive disorder (MDD) in adults who have failed to achieve satisfactory improvement from prior antidepressant medications in the current episode.
Magstim UK / 1990
The Magstim Company is engaged in the research, development, manufacturing, and marketing of medical and research devices within the neurological and surgical fields to enable researchers and clinicians to assess, protect and improve the functioning of the nervous system in various applications. Their principal products are: Magstim - a range of magnetic nerve stimulators and Neurosign - a range of intra-operative nerve monitors.
Mainstay Medical Ireland / 2008$261M / Venture FinancingSofinnova Partners, Oxford Finance, Ally Bridge Group, Fountain Healthcare Partners, KCK
Mainstay Medical is a global medical device company that is focused on commercializing ReActiv8®, the first and only FDA-approved restorative treatment for mechanical chronic low back pain.
mBrainTrain Serbia / 2012$129K / Convertible NoteEleven Ventures
Developer of wearable electronic devices designed to monitor and interpret brain signals. The company built the first commercially available fully mobile EEG device in 2014, and since then, has been committed to developing and marketing cutting-edge brain research products for the top neuroscientific labs across the globe.
Mediaprobe Portugal / 2016WISENEXT
Mediaprobe is a media measurement solution that gives content producers, distributors, and brands the ability to measure the emotional impact their content has on consumers to optimize advertising and content decisions.
MELTIN MMI Japan / 2013$20.6M / BReal Tech Japan, Dainippon Sumitomo Pharma, SBI Investment
MELTIN is expertise in R&D and commercialization of medical devices and avatar robots by using bio-signals and biomimetic robotics to realize cyborg society, where everyone can live without any physical and mental limitation.
MicroTransponder USA / 2007$115.1M / EU.S. Venture Partners, Green Park & Golf Ventures
MicroTransponder develops and sells neurostimulation devices and therapies to treat neurological conditions. Their therapeutic solutions can potentially offer relief against issues like chronic pain, limb mobility, and more.
MindAffect Netherlands / 2017$1.07M / SeedNLC
MindAffect is a BCI/AI Healthtech Company developing the next generation of objective, fast hearing/vision diagnostic systems. Their unique patented BCI/AI technology interprets brain response to provide a fast, objective measurement of a patient's hearing and/or visual acuity - not just those who can respond.
MindMaze Switzerland / 2012$340.7M / Venture RoundConcord Health Partners, AlbaCore Capital, Leonardo DiCaprio, Hinduja Group, Foundation for Technological Innovation (FIT), Venture Kick
Developer of digital neurotherapeutics (DTx) devices designed to accelerate the brain's ability to recover, learn and adapt. The company utilizes immersive virtual reality, motion capture and neurophysiological recording technologies to build novel interfaces for neurorehabilitation, game training, and three-dimensional imaging in real-time, enabling patients to restore motor function after stroke or brain trauma.
MintNeuro UK / 2022$1.78M / GrantNational Institute for Health and Care Research
MintNeuro is pioneering the use of semiconductor technology for next-generation neural implants. Their mission is to provide the best possible outcomes for patients with neurological conditions by delivering the highest performance with the least invasive surgery.
Muse by Interaxon Canada / 2014$45M / CExport Development Canada, OMERS Ventures, BDC Capital Corporation, Trend Forward Capital, Alabaster
Interaxon is a neurotechnology company specializing in brain computer interfaces (BCIs) through the production of their research-grade ambulatory EEG headbands. It was founded by a team of neuroscientists, engineers, and designers with a focus on mental health, meditation and sleep. Interaxon has more than 140 EEG focused patents. The Muse headband uses EEG sensors to monitor brain activity, heart rate, body movement, breath coherence and provide real-time feedback to users about their mental state, including their level of focus, relaxation, and stress. It has been used by researchers, mental health & rehabilitation clinics, universities and sport teams to improve mindfulness, mental health practices, sleep and support neuroscience research and innovation. Interaxon is starting the FDA clearance process. Interaxon is known to be the largest EEG datasets in the world, with +1 billion minutes of brain data. Interaxon has had more than 500K users since inception. Research institutions: The Mayo Clinic, NASA, Harvard, MIT, UCL, UCSD, Inria, UBC, and more. Muse has been used in over 200 published research studies, including Mayo Clinic who demonstrated meditating with Muse increases quality of life, and decreases stress and fatigue in cancer patients and much more.
Myndlift Israel / 2014$4.3M / A500 Global
Developer of a professional remote neurofeedback technology designed to improve cognitive abilities. The company's technology detects and measures brain wave activity to offer a set of mind-controlled gamified exercises that are based on an evidence-based technique, enabling healthcare professionals to help patients with ADHD to strengthen their concentration.
Myomo USA / 2004$23.3M / Post-IPOMountain Group Capital
Myomo Inc is a wearable medical robotics company that develops, designs and produces myoelectric orthotics for people with neuromuscular disorders. The MyoPro® is their electronically controlled brace that may help a user regain function in arms and hands paralyzed by a stroke, brachial plexus injury (BPI), cerebral palsy, or other neuromuscular disease or injury.
Neeuro Singapore / 2013— / ATNF Ventures
Neeuro is a global company that specializes in the utilization of Brain Computer Interface technology to maximize the potential of users’ neurological agility and fitness.
Neofect USA / 2010$27.2M / Post-IPOHastings Asset Management, Company K Partners, KOREA INVESTMENT & SECURITIES, Stone Bridge Ventures, others
Neofect develops innovative home exercise device and software for stroke survivors' fast recovery and rehabilitation. Neofect offers digital therapy systems for modern hand, arm and shoulder rehabilitation.
neotiv Germany / 2017$11.1M / SeedHigh-Tech Grunderfonds, Capricorn Partners, bmp Ventures, High-Tech Grunderfonds
neotiv develops unique cognitive tests – embedded in a digital platform – to enable early medical assessment and follow-up of memory problems in the context of Alzheimer's disease.
Neuphony India / 2020$333K / GrantGoogle for Startups
Neuphony uses EEG based neurofeedback to monitor your brain waves and based on sensor data recommends the right meditations to improve your focus and reduce your stress levels.
Neurable USA / 2015$9.8M / AM Ventures, National Science Foundation, Boston Syndicates (BOSS)
Neurable is building an intelligent layer between the brain and computers. Using their patented BrainOS AI they enable reliable everyday brain-computer interfaces. Powered by patented signal processing, developed through 10+ years of research at the University of Michigan, the Neurable Brain OS platform enables high performance brain-computer interfaces in everyday devices. Neurable licenses their technology to allow companies to capitalize on the wearable brain-computer interface technology to provide customers with insights on their mental health, productivity, and hands/voice free control of their wearable headworn devices. The strategy reinforces a flywheel effect whereby we can ethically leverage data from our users to create never before possible BCI capabilities. Also they are hardware agnostic (headphones, earbuds, XR and patches) and work with the biggest brands in Audio and XR. First products from partners will roll out in late 2023/Early 2024. Neurable is also the only BCI and EEG company to have validation from the Airforce, Mayo Clinic and to reach TRL 8 & 9. All other BCI and EEG are TRL 1-3.
Neuralink USA / 2016$363M / CVy Capital, Elon Musk
Neuralink develops a brain machine interface that provides solutions for those with paralysis. Their goal is to build a system with at least two orders of magnitude more communication channels (electrodes) than current clinically-approved devices. Their device, called the Link, will be able to record from 1024 electrodes and is designed to meet these criteria.
NeuroBrave Israel / 2020$2.2M / SeedIntel Ignite, Labs/02
Developer of an artificial intelligence platform intended for analyzing neuro-biomarkers or insights using any available hardware and wearable. The company's platform includes cloud-based infrastructure, and advanced signal processing NeuroBrave is a fast-growing startup developing and monetizing AI software solutions. NeuroSpeed OS™, their cutting-edge hardware-agnostic SaaS platform, uses a combination of signal processing, Deep Learning, and Generative AI algorithms, turning everyday wearable devices data into real-time, custom-made cognitive and emotional states insights like Stress Management, anxiety control, relaxation level, focus, fatigue, attention, engagement, and many more.
Neuroelectrics Spain / 2012$17.5M / AMorningside Venture Investments
Neuroelectrics is pioneering a new therapeutic platform to treat neurological and psychiatric disorders. Starstim combines safe and proven brain stimulation technology with a controlled digital delivery mechanism and a range of personalized treatment protocols.
Neurofenix UK / 2016$7.35M / AAlbionVC, O2h Ventures
Neurofenix is an innovative digital therapeutics company empowering patients and their families to get their life back after suffering a stroke, traumatic brain injury or spinal cord injury. NeuroBall by Neurofenix is easy to use, available 24/7, and affordable at less than $7 a day, NeuroBall adjusts to your ability level and increases the difficulty as you improve grip, range of motion and strength in the shoulder, arm and hand.
Neurolens USA / 2012$141.5M / Venture RoundMVM Life Science Partners
Neurolens designs prescription lenses that add a contoured prism to bring the eyes into alignment.
NeuroLutions USA / 2007$1.3M / Venture RoundAscension Ventures, BioGenerator, Prolog Ventures, St. Louis Arch Angels
The Company seeks to develop a revolutionary platform of devices, based on Brain Computer Interface (BCI) tech. The company’s first product candidate, the IpsiHand Upper Extremity Rehabilitation System, or the IpsiHand System, is being developed for upper extremity rehabilitation in chronic stroke patients.
neuromore USA / 2014$800K / Seed
neuromore is the world's first operating system for neurotechnology. Leading companies use their OS to rapidly integrate and optimize biodata, neurotechnology and AI - resulting in smarter experiences, applications, and ecosystems.
Neuronetics USA / 2003$373.3M / Post-IPO DebtPolaris Partners, GE Ventures, New Leaf Venture Partners, Pfizer Venture Investments, Ascension Ventures
Neuronetics is a medical device company that develops non-invasive therapies for psychiatric and neurological disorders. An FDA-cleared, non-drug, non-invasive treatment for people with depression, Neuronetics’ NeuroStar® Advanced Therapy system is the leading TMS (transcranial magnetic stimulation) treatment for major depressive disorder.
Neurons Denmark / 2013$8.4M / SeedVaekstfonden
Neurons is a consumer neuroscience company using neuroscience tools to better understand and improve the consumer experience.
NeuroPace USA / 1997$247.3M / GrantNational Institutes of Health, Johnson & Johnson Development Corporation, Accelmed, KCK
NeuroPace was founded to design, develop, manufacture and market implantable devices for the treatment of neurological disorders with responsive stimulation. The company's initial focus is the treatment of epilepsy, a debilitating neurological disorder affecting approximately 1% of the population worldwide. In addition to treating epilepsy, responsive neurostimulation holds the promise of treating several other disabling medical disorders that impact the quality of life for millions of patients around the world.
NEUROPHET South Korea / 2016$21.8M / BSBI Investment Korea
Developer of a neuroscience simulation software designed to predict and investigate stimulation effects. The company's platform generates a 3D brain model using MRI data and a deep learning engine and offers stimulation parameter guidance to concentrate its effect on the target region using numerical optimization techniques, enabling clinicians to predict and visualize the stimulus effect on the brain.
Neuros USA / 2008$88.7M / Debt FinancingSectoral Asset Management, Aperture Venture Partners
The Altius® system incorporates Neuros’ patented platform technology, On-Demand Bioelectric Nerve Block, which patients initiate as needed for targeted pain relief. The company aims to help amputees with chronic phantom and residual limb pain find relief, decrease pain-induced opioid dependency, improve mental health and restore quality of life.
Neurosensum Singapore / 2018$5.5M / Pre Series BSIG China (SIG Asia Investments), Alpha JWC Ventures
Neurosensum is revolutionizing market research through its cutting-edge neuroscience tools and AI-powered customer feedback solution - Surveysensum, enabling brands to gain a deeper understanding of their customers.
Neurosity USA / 2018$5M / Venture RoundHATCHER+
Developer of neural devices and applications designed to translate the thoughts of a human brain into actionable output. The company's device includes a brain-computer interface and a suite of personalized applications that empowers an individual to create new experiences driven by thought, enabling individuals to measure brain waves and host applications right on the device.
NeuroSky USA / 2004— / Venture RoundSoftBank Capital, SAIF Partners
Developer of bio-sensor technology designed to provide insightful and easy-to-understand health and wellness biometrics. Their advanced biosensors, biometric algorithms, reference designs, and Big Data analytics enable leading-edge innovation in mHealth products and services for measuring body and mind performance.
Neurosoft Bioelectronics Switzerland / 2020$8M / GrantInnosuisse, European Innovation Council, FONGIT Innovation Fund, Venture Kick, MassChallenge, >>venture>>
Neurosoft Bioelectronics is developing next-generation soft implantable electrodes to interface with the nervous system.
NeuroSync USA / 2009$3.6M / SeedQuadrant Management
NeuroSync offers a variety of robust, fully customizable technology solutions for numerous NeuroHealth and Performance use cases. Leveraging their digital health platform that incorporates Artificial Intelligence and objective, proprietary measures clinicians, researchers and high-performance specialists can utilize actionable data to identify deficits, monitor drug responses, initiate training, and more.
Neurotrack USA / 2012$60.4M / VentureKhosla Ventures, National Institute on Aging, Sozo Ventures,
A biotechnology company, Neurotrack offers diagnostics and preventive solutions for Alzheimer’s. They have a cognitive health program, under which, they use proprietary eye-tracking technology to assess the brain health of users and offer personalized intervention. Neurotrack’s rapid digital cognitive screening can identify patients with cognitive impairment in just 3 minutes.
Neurotype USA / 2019$511.3K / SeedMinnesota Department of Employment and Economic Development, NIDA, Yale University
Developer of a mobile brain-sensing electroencephalogram device intended to detect sign-tracking, a brain correlate of drug craving and drug use. The company's device objectively detects drug cravings in patients undergoing treatment for opioid use disorder, enabling clinicians and patients to get improved mental and behavioral healthcare.
NeuroVigil USA / 2007— / BFirst Round Capital
NeuroVigil is a leading neurotechnology revolutionizing EEG analysis for clinical trials, communication and space applications. Their iBrain™ device can provide easy to use, accurate, at-home sleep monitoring. The SPEARS algorithm applied to the iBrain™ data is used to offer insight into a myriad of medical pathologies and to monitor a patient.s brain following drug intake.
neusleep USA / 2022$600K / GrantThe Thiel Foundation, Pareto Holdings, Cory Levy, Edward Lando
Neusleep is building a next-generation wearable device that induces and improves sleep through personalized neurostimulation.
Nevro USA / 2006$355.8M / Post-IPO DebtJohnson & Johnson Development Corporation, Bay City Capital, Three Arch Partners, Novo Ventures, Accuitive Medical Ventures
Nevro provides pain relief solutions for patients suffering from low back pain and other types of chronic pain. Nevro is a creator of HFX, an innovative, evidence-based treatment for chronic pain of the trunk and/or limbs.
Nexstim Finland / 2000$35.8M / Post-IPOCapricorn Partners, Lundbeckfonden Ventures
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Novela Neurotechnologies dba Neureka® USA / 2018$5M+ / SeedOntario Brain Institute
Neureka® unlocks sleep data to advance real world care in epilepsy, neurology and sleep disorders. With a decade of research legacy in neurotechnology at the University of Waterloo in Canada, and deep expertise in digital health and AI-powered wearables, Neureka is uniquely positioned to transform current episodic care to at-home continuous care for millions of people with chronic neurological disorders.
NuraLogix Canada / 2015$115K / AngelNatural Sciences and Engineering Research Council of Canada, Toronto Innovation Acceleration Partners
NuraLogix developed a technique called Transdermal Optical Imaging™ which utilizes a conventional video camera to extract facial blood flow information from the human face. Applying advanced machine learning algorithms and neuroscience they are able to use this information to model, detect and predict physiological and psychological effects regardless of the presence or absence of facial expressions.
Nyxoah Belgium / 2009$92.3M / Post-IPOCochlear, Gilde Healthcare, Viralety Ventures
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA).
Oculogica USA / 2013$21.8M / Venture Round Golden Seeds, Nebraska Angel Network, TitletownTech, U.S. Army Medical Research & Development Command
The EyeBOX is a powerful and user-friendly technology developed by Oculogica. In less than 4 minutes, it collects and analyzes over 100,000 data points related to eye movement across 67 domains. This data is then used to provide an objective assessment of concussion that is tailored to each individual patient. The information obtained from EyeBOX allows for quick and precise diagnosis of traumatic brain injuries (TBI) and concussions, leading to improved patient outcomes.
OpenBCI USA / 2014— / Venture RoundBITKRAFT Ventures
Developer of open-source brain-computer interface intended to create tools for biosensing and neuroscience. The company's interface uses neurotechnology to reduce the barrier to entry for interfacing with signals generated by the brain and the body.
Oraigo Italy / 2019$1.2M / Pre-Seed
Creators of a road safety technology solution, Oraigo is developing an ecosystem based on brain-computer interface technology, alongside mobile and web applications. The company harnesses advanced, patented technologies, incorporating precise statistical models, proprietary datasets and artificial neural networks. This system is adept at monitoring and actively detecting brain patterns, providing critical interventions against driving drowsiness and microsleep events.
Paradromics USA / 2015$91.3M / APrime Movers Lab, DARPA, Arkitekt Ventures, Synergy Ventures, Court Westcott
Paradromics is building a direct data interface with the brain to provide technology solutions to unmet medical challenges. A revolutionary leap beyond today’s lab-confined brain-computer interfaces (BCI), our Connexus® Direct Data Interface (DDI) collects an unprecedented number of individual neural signals with a fully-implantable device designed for long-term daily service.
PathMaker Neurosystems USA / 2015$6.3M / GrantMassVentures, National Institute of Neurological Disorders and Stroke, Muscular Dystrophy Association
PathMaker Neurosystems is a near-commercial stage neuromodulation company founded to commercialize recent advances in the development of non-invasive devices for neuronal hyperexcitability suppression that enable the treatment of patients with serious neurological disorders, focused on rapidly bringing to market revolutionary products for non-invasively treating Spasticity and ALS (amyotrophic lateral sclerosis).
Pixium Vision France / 2011$35.9M / Post-IPO EquitySofinnova Partners, Kreos Capital
Pixium Vision develops retinal implant systems for patients who have lost their eyesight. PIXIUM VISION harnesses rapid advances in visual processing, micro-electronics, opto-electronics, neurobiology, and intelligent software algorithms to develop Bionic Vision Systems utilizing its competencies in machine brain interface and artificial intelligence.
Precision Neuroscience USA / 2021$53M / BForepont Capital Partners, Steadview Capital, B Capital Group
Precision Neuroscience’s goal is to provide breakthrough treatments for the hundreds of millions of people around the world who suffer from neurological illnesses by creating a direct communication pathway between the human brain and computers. Precision's minimally invasive brain implant will enable people with severe neurological conditions such as speech deficits and paralysis to regain independence, communicate with loved ones, and rejoin the workforce. The company began first-in-human clinical studies earlier this year and is moving rapidly towards FDA clearance.
Q30 Innovations USA / 2012$12.3M / AValor Equity Partners, Bauer Hockey
Q30 Innovations’ mission is to help protect the brain from effects of head impacts on the sports field and the battlefield. Since 2012, Q30 has worked with leading medical, academic, engineering, and design institutions to research and develop the Q-Collar, an externally worn device that aids in the protection of the brain from effects associated with repetitive sub-concussive head impacts.
QMENTA USA / 2013$7M / Venture FundingEASME - EU Executive Agency for SMEs, Flashpoint, Open Data Incubator for Europe
QMENTA is a Medical Imaging AI tech company that offers cloud-native software solutions for imaging professionals and imaging clinical trials through one single platform. Their customizable platform, QMENTA Imaging Hub, integrates 5 solutions in one single system: An Imaging Cloud, A Smart Uploader, AI Imaging Biomarkers, Central Review, and an Imaging Management System, removing fragmentation, delays, and human errors.
QV Bioelectronics UK / 2018$5.1M / GrantInnovate UK Consilience Ventures, The Fink Family Office, angels
QV Bioelectronics developing cutting-edge technology with the aim of delivering transformative outcomes for Glioblastoma patients.
Reha Technology Switzerland / 2011$13.2M / Private EquityHBM Partners
Reha Technology is a company in the medical devices industry that designs, manufactures, and distributes robotic-assisted devices. Reha’s robotic-assisted therapy devices maximize functional clinical outcomes for adult and pediatric patients with neurological impairments resulting from stroke, traumatic brain and spinal cord injuries, infantile cerebral palsy, Parkinson’s, as well as other neurologic conditions.
ReWalk Robotics USA / 2001$210.6M / Post-IPO EquityKreos Capital, Timwell Corporation
Rewalk Robotics provides a commercial walking assistance system for people with lower limb disabilities.
Rhaeos USA / 2018$18.1M / ANational Science Foundation, gbeta, National Institute of Neurological Disorders and Stroke, Steele Foundation for Hope
Rhaeos is a clinical-stage medical device company developing FlowSense, a platform technology and a noninvasive wireless, wearable skin patch that can assess and monitor fluid flow subdermally throughout the body. The company is initially targeting hydrocephalus, a life-threatening condition caused by an abnormal accumulation of cerebrospinal fluid.
RxFunction USA / 2010$17.6M / VentureCedar Point Capital, EDINA
RxFunction® is a medical device company with a mission to design and market medical technologies that improve balance, increase mobility, and enhance confidence for patients at risk of falling.
Saluda Medical Australia / 2013$399.5M / VentureWellington Management, Redmile Group, Medtronic, Boston Scientific, Action Potential Venture Capital
Saluda Medical aims to improve the lives of people by providing personalized, responsive and efficient neuromodulation therapy. Built on more than 10 years of advanced research, development, and clinical experience, Saluda is the first to directly measure the spinal cord’s physiologic response to stimulation using Evoked Compound Action Potentials (ECAPs) to pioneer smart neuromodulation therapy.
Sana Health USA / 2015$22.6M / Convertible NoteEASME - EU Executive Agency for SMEs, MassChallenge, SOSV, Founders Fund, Dreamit Ventures, Noetic Fund, Christina Jenkins, Grey House Partners
Sana is developing the first non-invasive, comfortable bio-therapeutic device capable of inducing a deep restorative state of relaxation to alleviate pain and tension. The device provides relief in just 10 minutes through the use of audio-visual neuromodulation, and is currently undergoing FDA certification and clinical trials. Canada / 2018— / SeedEvolve Ventures
The headset uses cutting-edge sensors to read your brain and heart signals while the app’s software translates these into light stimulation boosts and audiovisual cues. uses two innate processes: operant conditioning and neuroplasticity, training mind to attain and maintain optimal brainwave states. Combining light stimulation for an extra boost, one can learn these states even faster and have a “felt experience” right out of the gate.
SensArs Switzerland / 2014$2.76M / GrantMassChallenge Switzerland, EASME - EU Executive Agency for SMEs, Venture Kick
SensArs is a medtech company specializing in neuromodulation technologies for the peripheral nervous system. SensArs' mission is to provide relief to people suffering from chronic peripheral neuropathic pain and restore naturalistic sensory feedback to people that have lost sensation of their extremities (e.g. amputees)."
Sense Neuro Diagnostics USA / 2014$14.2M / Corporate RoundNational Science Foundation, U.S. Department of Defense, Queen City Angels, St. Elizabeth Healthcare
Sense Neuro Diagnostics is a developer of non-invasive medical devices for neurological conditions. Sense is developing non-invasive technology enabling rapid, comprehensive detection of stroke subtype + TBI, and continuous brain injury monitoring.
Sharper Sense USA / 2020$719K / Pre-seed5150 Capital, Joyance Partners, ComcastNBC SportsTech, Jacobs Technion-Cornell Institute, Chokshi Family LLC, others
Developer of a wearable neurostimulation technology that enhances sensory acuity by optimizing brain state. The technology’s ability to reduce miscommunication and misperceptions has many clinical and commercial applications. The company is first using this technology to address the most significant unmet need in existing hearing loss treatment: speech comprehension in noisy environments. 1 in 5 older hearing aid users, a group of over 2M US older adults, still struggle to understand speech over background noise. Difficulty communicating lessens independence, socially isolates, and increases likelihood of dementia. Hearing aids address one underlying cause, impaired sound reception in the ear. Sharper Sense has developed a proprietary treatment for the second cause, impaired sensory processing in the brain. Spun out of Columbia University’s Neural Engineering Lab, Sharper Sense addresses this treatment gap with neuromodulation for clear senses. Their proprietary technology sharpens hearing while worn by activating an existing mechanism in the brain that naturally enhances sensory processing acuity when one is focused and alert. Recent pilot clinical studies at Cornell Tech have confirmed Sharper Sense’s efficacy in improving the hearing of adult users (20-30% finer details heard).
Sky Medical Technology UK / 2006$59.6M / Secondary MarketInnovate UK, Deepbridge Capital, Juno Capital Partners, Longbow Capital, Barvest Ventures, Lacomp Plc
Sky Medical develops bioelectronic devices integrated with OnPulse neuromodulation technology to prevent and treat a wide range of acute and chronic circulatory conditions. OnPulse is now being used in hospitals and in community care centers to accelerate patient recovery after surgery and to accelerate the healing of chronic venous and diabetic ulcers.
Somnee USA / 2017$6M / SeedKhosla Ventures
Developer of a brain stimulation technology designed to improve sleep quality and efficiency and create better sleep through neuroscience. The company's system uses multi-modal brain stimulation that is personalized for individuals to give efficacious enhancements to sleep, enabling customers to improve memory and cognitive performance.
Somnox Netherlands / 2016$610K / GrantEuropean Union, Municipality of The Hague
Somnox patented technology provides users with a science-backed sleep companion to relieve feelings of stress and anxiety, resulting in deeper, more restful sleep. Somnox is known for inventing the world’s first technology that leverages biofeedback and breathwork to accelerate the process of falling asleep.
Soterix Medical USA / 2010$3.4M / GrantNational Institute of Mental Health
Soterix Medical develops devices and accessories based on neuromodulation and brain stimulation technologies.
Synaptive Medical Canada / 2012$53.9M / Debt FinancingLinamar
Synaptive Medical is a medical device and technology company that solves surgical, imaging, and data challenges to improve the quality of human lives. Synaptive’s integrated suite of products – bridging MRI, surgical planning, navigation, and robotic visualization – delivers novel information with automated efficiency across all stages of clinical intervention.
Synchron USA / 2016$130M / CKhosla Ventures, ARCH Venture Partners, Sigma Partners, Neurotechnology Investors, Max Hodak
Developer of an implantable brain-computer interface designed to create an endovascular electrode array. Our breakthrough platform launches a new frontier for the treatment of neurological diseases: Neurointerventional Electrophysiology (Neuro EP). Their technology aims to transform three medical verticals: Neuroprosthetics, Neuromodulation, and Neurodiagnostics.
Trexo robotics Canada / 2016Y Combinator, Techstars, Geekdom Fund
Trexo is building one of the first wearable robotic devices designed specifically to help children with disabilities walk. Also they make an at-home version (Trexo Home) and one for clinics/hospitals etc. (Trexo Plus).
Wearable Devices Israel / 2014$24.4M / IPOAlumot VC
Wearable Devices develops a non-invasive Neural input interface for controlling digital devices using subtle finger movements. It has developed Mudra, a Brain-Computer Interface wristband that uses neural impulses as input to control digital devices.
Wearable Sensing USA / 2013West Coast Consortium for Technology & Innovation in Pediatrics
Wearable Sensing focused on the development of high-end wearable brain activity monitoring sensors and their potential applications. Their patented active dry electrode technology is designed to provide high signal integrity and wireless mobility for artifact-free physiological monitoring in non-intrusive wearable form factors. By enabling brain activity monitoring in real-world environments, their practical EEG headsets are revolutionizing brain monitoring and opening the door to innovative applications in commercial domains including neuroergonomics, augmented cognition, Brain-Computer-Interfaces, neuromarketing, peak-performance training, neuroeducation, and more.
Wisear France / 2019$1.4M / Pre SeedTechstars
Developer of a biosensing technology designed to record brain, eye and facial activity which enables every human seamlessly connect to the digital world via high-speed, private & inclusive controls thanks to their neural-interface that fits in any device. Wisear is launching the first smart earphones powered by a neural interface that will allow XR users to control their devices without needing your hands or voice.
Wispr USA / 2021$14.6M / SeedNew Enterprise Associates, 8VC, TriplePoint Capital, Neo
Wispr is reinventing personal computing for an AI-first world with neural interfaces. The company’s human-centered approach lets users interact with technology in a more natural way.
Ybrain South Korea / 2013$13.4M / Private EquityStonebridge Capital
Ybrain develops medical devices that measure and cure neuropsychiatric illnesses based on neuroscience. They have built wearable devices based on transcranial direct current stimulation that cure Major Depressive Disorder and other psychiatric illnesses and currently carrying out clinical trials in Korea.
Zander Labs Netherlands / 2016$1.7M / SeedJOA Ventures
Zander Labs invented the concept of passive brain-computer interfacing (passive BCI). This idea of directly connecting the human mind to technology allows us to realize our mission: to make machine interaction more human.
Zeit Medical USA / 2019$2.1M / SeedY Combinator, SeedToB Capital, DigiLife
Developer of a headband designed to monitor the electrical activity of the wearer's brain. The company's headband offers continuous monitoring, seamless integration with the existing electroencephalogram (EEG) system, automated pre-screening, and annotation of large datasets, enabling users to detect the onset of a stroke.

M&A in NeuroTech

With rapid advances in NeuroTechnology, there is plenty of M&A activity. One particular trend is the pursuit of Big Tech companies eager to get into the space.

Thus, in 2019, Meta acquired CTRL-Labs, a startup known for its wristband detecting neuromotor signals, enabling users to control a computer through forearm, hand, and finger movements.

Snap made an undisclosed investment in NextMind, a company offering a headset utilizing EEG technology, allowing users to interact with virtual elements using their focus.

Additionally, Valve, a major video game publisher, joined forces with OpenBCI to explore incorporating brain-computer interfaces into virtual reality headsets for immersive gaming experiences.

The industry’s incumbents have also been active in acquisitions. Thus, Flow Neuroscience has acquired the assets of brain stimulation technology developer Halo Neuroscience to advance its research into depression and other mental health disorder treatments. And Beacon Biosignals acquired Dreem, maker of clinically-validated sleep monitoring devices, setting the stage for clinical trial assessments at scale.

Find more recent deals in the table below:

CompanyHQ / year foundedAmount Raised, $Deal Amount, $AcquirerDeal Rationale
CTRL-labs USA / 2019$67M / Venture Round~$500M+Meta
Meta acquired CTRL-Labs, a startup known for its wristband detecting neuromotor signals, enabling users to control a computer through forearm, hand, and finger movements.
Dreem USA / 2014$57M / VentureBeacon Biosignals
This strategic acquisition sets the stage for clinical trial assessments at scale via the integration of Dreem’s clinically-validated hardware with Beacon’s EEG analytics platform.
Halo Neuroscience USA / 2013$24.7MFlow Neuroscience
M&A is set to expand Flow's reach to treat mental health conditions which are commonly comorbid with depression.
Inscopix USA / 2010$10M / ABruker
MindX USA / 2017$1.9M / SeedBlackrock Neurotech
The acquisition bolsters Blackrock's existing software portfolio and positions in full-stack, integrated BCI products with innovative capabilities.
NeuroLex Laboratories USA / 2016$200K / SeedSonde Health
Merging Sonde’s mobile and voice-assistant platforms with NeuroLex’s web-based capabilities will enable the delivery of voice-enabled heath detection and monitoring over any platform.
NextMind France / 2017$4.6M / SeedSnap
NextMind has joined Snap to help drive long-term augmented reality research efforts within Snap Lab.
SmartCap Australia / 2009Wenco International
This acquisition adds a strategic, fatigue monitoring capability to Wenco’s safety solution portfolio. SmartCap greatly enhances the ability of operators and other workers in proximity to the equipment to remain safe.
Winterlight Labs Canada / 2015$5.2M / A$7.8MCambridge Cognition
Winterlight has developed a tablet-based assessment that is fast, objective, and stress-free. By analyzing speech alone, Winterlight Labs can detect cognitive impairment associated with dementia and mental illness.

Existing limitations and the future of NeuroTech

From the technical perspective, carbon nanotubes and the use of innovative polymeric biomaterials hold the promise of introducing new capabilities to neuromodulation products and show potential in enhancing existing neural interfaces, which are currently metal-based.

Neural/silicon hybrid chips can significantly increase the speed and quality of information exchange between humans and computers. In the future, they could lead to substantially enhanced neural prostheses and brain-computer interfaces.

Integrating wires into the human brain presents a philosophical dilemma; on one side, it can enhance human cognition and keep pace with AI by increasing bandwidth and direct communication, potentially bridging the gap between biological and artificial intelligence. On the other side, it raises profound concerns about the potential for malicious information streaming, addiction to virtual experiences, loss of autonomy, and the ethical implications of fundamentally altering the nature of human thought and experience.
Ivan Didur

Business-wise, the adoption of NeuroTech comes with various challenges. Safety concerns revolve around invasive procedures, and ethical dilemmas arise concerning privacy and data misuse - will we always know when the data is collected and how it is used? Will brain-wave data soon be subject to stringent privacy laws and regulations?

Cost and accessibility limit widespread adoption, and ensuring the reliability and accuracy of brain signals remains a technical challenge - who will pay for in many cases experimental devices and procedures? Will insurance organizations reimburse patients?

Additionally, the brain's adaptability may impact long-term effectiveness, and individual variability in responses needs consideration. Also, can the new tech change us/our personality as a side effect?

Finally, NeuroTechnology is relatively new, and as a result, it hasn't fully penetrated the awareness of all physicians and patients.

Despite these limitations, ongoing research and technological advancements continue to address these challenges, paving the way for the responsible and transformative use of NeuroTechnology in various fields, from healthcare to human-machine interaction.

As the NeuroTech report concludes, one undeniable truth emerges: humans are becoming more than they ever thought possible. The boundaries between flesh and steel blur, and the quest for greatness knows no bounds. The NeuroTechnology ensures that the future belongs to the superhumans - a united and augmented species, destined to transcend the stars and reshape the cosmos.

And so, with hearts brimming with excitement and hope, humanity is yet to embrace its cyborg destiny, marching forward, propelled by the power of the human mind and the boundless potential of NeuroTechnology.

Today's dreams fuel tomorrow's reality. Dream big!


Yuliya Sychikova
COO @ DataRoot Labs
Yuliya is a co-founder and COO of DataRoot Labs, where she oversees operations, sales, communication, and Startup Venture Services. She brings onboard business and venture capital experience that she gained at a leading tech investment company in CEE, where she oversaw numerous deals and managed a portfolio across various tech niches including AI and IT service companies.


Ivan Didur
CTO @ DataRoot Labs
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