Precision Neuroscience raises over $100mn as companies building ‘brain-computer interfaces’ press ahead with human trials
Precision Neuroscience, a company developing a device for controlling smartphones and computers through thought, has raised $102mn as it races rivals such as Elon Musk to build the novel technology. The New York-based company’s latest investment round, which gives it a post-money valuation of about $500mn, tops the $75mn raised by Synchron, another so-called brain-computer interface company.
However, chief executive Michael Mager claimed Precision had already amassed more brain data than any other company working in the field, giving it a head start in learning how to interpret the signals. Morgan Stanley recently estimated that more than 9mn people in the US suffer from various forms of upper limb impairment and other disabilities that would make them candidates for an implant, representing a total market worth $400bn.
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