Today, brain–computer interface (BCI) company Precision Neuroscience Corporation (Precision), announced the successful closing of a $102 million Series C funding round led by General Equity Holdings, with participation from firms including B Capital; Duquesne Family Office, the investment firm of Stanley F. Druckenmiller; and Steadview Capital. With $155 million in total capital raised, Precision is now one of the best-funded companies in the BCI industry.

Precision will use the new financing to expand its team, advance its clinical research efforts, and refine future versions of its AI-powered brain implant, which is designed to enable users with severe paralysis to operate digital devices, such as computers and smartphones, using only their thoughts. In coming years, this system has the potential to change what it means to be physically disabled, breaking down barriers to communication, employment, and independence.

Precision’s roadmap extends beyond motor paralysis, to meeting the needs of millions of people living with neurological conditions ranging from obsessive compulsive disorder to depression. “We’re beginning by addressing some of the most debilitating disorders—severe spinal cord injury, stroke, ALS—and our goal is to develop a product that is safe enough, and scalable enough, to treat a broad range of neurological conditions,” Michael Mager, the company’s co-founder and CEO, said. This funding brings us one step closer to that vision.

The brain–computer interface field is attracting growing interest from investors. Morgan Stanley recently estimated the commercial BCI market could reach $400 billion in the U.S. alone. Andrew Bellas, managing partner of General Equity Holdings, said, “BCI technology is truly at an inflection point. Advances in both hardware and software are unlocking ways to connect with the brain that were previously unimaginable. We believe Precision has an outstanding team whose approach to this technology is cutting-edge while remaining focused on the needs of the end user. Over the coming years, BCI’s impact is likely to be massive, both in medicine and beyond.

Precision’s technology enables the human brain to tell a machine what to do,” Kevin Warsh, Partner at Duquesne Family Office, said. “Ben, Michael, and their team are creating something at the frontier of neural research and machine learning. Expect drastically improved lives for millions of people and markedly improved knowledge for the world. We are thrilled to be their partner.

Source: https://www.globenewswire.com/news-release/2024/12/16/2997364/0/en/Precision-Neuroscience-Raises-102-Million-to-Advance-AI-Powered-Brain-Implant.html