Precision Neuroscience, a brain-computer interface (BCI) company, has raised $102m in Series C funding to advance the development of its artificial intelligence (AI)-powered brain implant.
The round was led by General Equity, with participation from B Capital, Duquesne Family Office, and Steadview Capital.
With $155m in total funding, New York City-based Precision Neuroscience will advance in the BCI sector.
Last month, the BCI implant developer raised $93m in a Series C round as per its financial disclosure.
General Equity managing partner Andrew Bellas said: “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.”
The BCI company will use the new funding to grow its team, enhance clinical research efforts, and improve future versions of its AI-powered brain implant.
This investigational implant enables users with severe paralysis to control digital devices, like computers and smartphones, using only their thoughts.
In the future, Precision Neuroscience plans to redefine physical disability, breaking barriers to communication, employment, and independence.
The implant will also target neurological conditions, including obsessive-compulsive disorder and depression.
Precision Neuroscience co-founder and CEO Michael Mager said: “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.”
Founded in 2021, Precision is led by Ben Rapoport, a neurosurgeon-engineer and former co-founder of Neuralink.
The company has developed the first BCI system that combines high-bandwidth data transfer for complex tasks with a minimally invasive surgical approach.
Precision Neuroscience has tested its device in 27 patients through research partnerships with medical institutions, including Mount Sinai Health System, the Perelman School of Medicine at the University of Pennsylvania, and West Virginia University’s Rockefeller Neuroscience Institute, with additional partnerships in progress.
The company also acquired an advanced manufacturing facility in Texas to produce its implants and secured US Food and Drug Administration (FDA) breakthrough status in October last year.
In a similar development, in October 2024, Synchron, a clinical-stage BCI company, revealed encouraging outcomes from the COMMAND study of its Stentrode device.
