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Neurable raised $13 million for its brain-computer interface (BCI) technology that can work with everyday products.
Boston-based Neurable plans to use this funding round to advance its platform technology with a range of large-scale applications through its BCI AI technology and scaling its licensing business to further development and experimentation across multiple industries
Neurable wants to democratize neurotechnology. The funding came from Ultratech Capital Partners, TRAC, Pace Ventures, and Metaplanet.
With over $30 million raised since its founding, Neurable is working with its licensing partnership network to make easy-to-use neurotechnology a reality, including through the upcoming launch of the Neurable AI-powered MW75 Neuro headphones.
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With this new funding, Neurable will continue to expand the build of its platform, giving companies and original equipment manufacturers (OEMs) access to its non-invasive BCI technology and make it widely available to consumer audiences. This includes expanding its product portfolio, reference designs, algorithms, and enabled systems to include earbuds, helmets, and various head-worn devices that will help optimize human performance.
“This new round of funding underscores our commitment to making Neurable’s brain-computer interface technology accessible to everyone,” said Ramses Alcaide, CEO of Neurable, in a statement. “We’re empowering individuals to understand their own mind, optimize human performance, and conquer the most pressing health challenges of our generation.”
Neurable’s unique and powerful electroencephalography (EEG) AI technology is optimized for more compact form factors than traditional external brain wave monitoring devices. Neurable’s AI-powered platform records wearers’ brain activity and gives people their brain data in a non-invasive manner.
“Neurable’s transformative neurotechnology is at the forefront of the BCI revolution,” said Dale Davis, senior principal at Ultratech Capital Partners, in a statement. “BCI technology has gained significant momentum over the years, and its advancement shows no signs of slowing down. Neurable’s BCI has the potential to solve a range of vexing issues — from healthcare to daily life. BCI integrated into our devices, and a critical part of our everyday experience was once the stuff of science fiction — thanks to Neurable, that dream will soon be a reality.”
Founded as a University of Michigan spinout and, following its Series A funding in 2020, Neurable has partnered with consumer wearable companies, including headphone company Master & Dynamic, to advance the mission of embedding EEG sensors into everyday technologies.
The partnership will introduce the first-ever BCI-enabled headphones, MW75 Neuro, set to launch this summer. The new funding will continue Neurable’s future plans to further develop its platform technology to provide consumers with even greater insight into the workings of the brain.
Also following Series A, Neurable partnered with Air Force Research Lab’s 711 Human-Performance Wing to validate Neurable’s technology and explore how it could be used to improve human performance.
Building on this successful collaboration, Neurable secured $5 million in contracts from the Department of Defense to further develop this cutting-edge human technology to support soldier health and performance.
“We’re extremely proud to work with our partners, which include some of the world’s best in consumer technology like Master & Dynamic as well as the very servicemen and women who make sacrifices on a daily basis for the overall security of our nation,” said Adam Molnar, cofounder and vice president of strategic partnerships at Neurable, in a statement. “This is just the beginning. We can’t wait to show you what’s coming next.”
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May 07, 2024 at 06:00PM
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Neurable raises $13M for brain-computer interface with everyday products - VentureBeat
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