Precision Neuroscience, a NYC-based brain–computer interface (BCI) company, raised $102M in Series C funding.
The round was led by General Equity Holdings, with participation from firms including B Capital, Duquesne Family Office, the investment firm of Stanley F. Druckenmiller, and Steadview Capital, bringing the total amount to $155M.
Founded in 2021 and led by a team that includes Ben Rapoport—a neurosurgeon-engineer and former co-founder of Neuralink and led by CEO Michael Mager, Precision Neuroscience is dedicated to developing treatments for neurological disorders affecting millions of people worldwide. The company is providing a brain–computer interface designed to be minimally invasive, safely removable, and capable of processing large amounts of neural data.
The company intends to use the funds to expand its team, advance its clinical research efforts, and refine future versions of its AI-powered brain implant, which is designed to enable users with severe paralysis to operate digital devices, such as computers and smartphones, using only their thoughts. In coming years, this system has the potential to change what it means to be physically disabled, breaking down barriers to communication, employment, and independence.
Precision’s brain implant is an investigational device that is not available for sale in the United States.
In a few years, the company has achieved significant milestones:
- Built and validated a BCI system that uniquely combines powerful bandwidth with patient safety.
- Recruited a team of 70+ experts across diverse disciplines.
- Raised $155 million from leading investors.
- Successfully tested its device in 27 patients through research partnerships with prominent 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 forthcoming.
- Acquired a state-of-the-art manufacturing facility in Texas to fabricate its implants.
- Secured FDA Breakthrough Device designation.
- Expanded its executive leadership team, appointing former Verily co-founder Brian Otis as Chief Technology Officer, Mike Kaswan as Chief Financial Officer, and Jayme Strauss as Chief Clinical and Commercial Officer.
