Boston, May 07, 2024
Neurable Inc., the neurotechnology company democratizing BCI technology, announced today that it has raised an additional $13 million in funding from Ultratech Capital Partners, TRAC, Pace Ventures, and Metaplanet.
With over $30 million raised since its founding, Neurable is working with its robust licensing partnership network to make easy-to-use neurotechnology a reality, including through the upcoming launch of the Neurable AI-powered MW75 Neuro headphones.
With the help of this additional funding, Neurable will keep developing its platform and granting businesses and OEMs access to its unique, non-invasive BCI technology, which will then be broadly accessible to consumer audiences. In order to improve human performance, this entails broadening the company’s range of products, reference designs, algorithms, and enabled systems to include earbuds, helmets, and other head-worn devices.
“This new round of funding underscores our commitment to making Neurable’s brain-computer interface technology accessible to everyone,” said Dr. Ramses Alcaide, CEO and Co-Founder of Neurable. “We’re empowering individuals to understand their own mind, optimize human performance, and conquer the most pressing health challenges of our generation.”
Thanks to its unique and powerful electroencephalography (EEG) AI technology 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.
“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.”
Originally a University of Michigan spinout, Neurable has partnered with consumer wearable companies, such as Master & Dynamic, a headphone company, to further its mission of integrating EEG sensors into common technologies. Neurable received Series A funding in 2020. The collaboration will launch the MW75 Neuro, the first-ever BCI-enabled headphones, this summer. With the additional funding, Neurable will be able to carry out its long-term goals of developing its platform technology and giving customers even more insight into how the brain functions.
In order to validate its technology and investigate its potential applications for enhancing human performance, Neurable also collaborated with the 711 Human-Performance Wing of the Air Force Research Lab after completing Series A. Building on this fruitful partnership, Neurable was able to obtain contracts worth $5 million from the Department of Defense to continue developing this state-of-the-art human technology in order to enhance the performance and health of soldiers.
“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, Co-Founder and Vice President of Strategic Partnerships at Neurable. “This is just the beginning. We can’t wait to show you what’s coming next.”
Venkat