Shanghai brain-computer interface secures new round of investment

NeuroXess, a Shanghai-based brain-computer interface (BCI) startup, has completed the latest round of financing for "several hundred million" yuan, which is helping fill a market gap in China with new ways to cure brain disease.

Brain-computer integration is one of the most active research directions in the field of brain science and artificial intelligence, with global players like Elon Musk-invested Neutralink. Meanwhile, Shanghai has set up a strategy to develop five future strategic industries, which include brain science development.

The leading investor of the financing is Zhong Ping Capital, along with other investors like Light Silver Capital, Guosheng Capital and Shanghai Sailing Capital. Existing investors including Shanda and Sequoia Capital also participated this round of investment.

Founded in 2021, Shanghai-based NeuroXess has already released commercial BCI products for medical use, a high-frequency signal processor, and related artificial intelligence algorithm-featured cloud platforms. It has already established cooperation with several local hospitals.

The new products fill a market gap in China and will be used to find cures for things like ALS, high paraplegia and blindness, said Peng Lei, founder and chief executive of NeuroXess, which means "brain tiger" in Chinese.

In China, there are almost 130 million patients with brain diseases. As a direct connection pathway created between the brain and external devices, BCIs are a strong candidate for future innovative therapies for brain disorders.

With the new tech, neurological patients can achieve the repair of perceptual and motor functions, and restore necessary life and social skills to return to their families and society.

It also fits well with Shanghai's development plan to establish a global innovation center.

In November, the city released a blueprint to develop five strategic "future industries" – health, smart devices, energy, space and new materials. By 2030, the output value of the five "future industries" will reach about 500 billion yuan (US$71 billion).

BCI is mentioned in the city-level blueprint. It's a cross-industry field with large potential.