The brain-computer interface device developed by NeuroXess debuted at WAIC 2022 with a monkey model. (Source: TMTPost)

By Lin Zhijia and Shaw Wan

BEIJING, December 28 (TMTPOST) — NeuroXess, a Shanghai-based high-tech life science company, raised hundreds of millions of yuan, or tens of millions of dollars, in its series A round on Wednesday.

The latest fundraising round was led by Zhongping Capital, a Shanghai-based private equity firm. Previous investors Shanda, Lianxin Capital and Sequoia Capital China continued to invest. Other participants included LightSilver Capital, Guosheng Capital, Sailing Capital and Yanhuaboyi.

NeuroXess provides brain-computer interface (BCI) technologies to protect and explore the brain. It developed China’s first semi-invasive BCI medical device that targets markets of human brain research and treating neurological diseases.

Wu Bin, founder and chief executive officer of Zhongping Capital, said that brain-computer interface technology is a brand new path for humans to further explore the brain and develop new therapeutic technology platforms. “It is full of unknowns and challenges, and the world is at a critical stage of development.”

“Congratulations to NeuroXess for completing a new round of financing. I am very happy to see that this Chinese invasive BCI technology research and development enterprise has made steady progress in human clinical trials and has continuously achieved results. Interestingly, Synchron, an American BCI company invested by Shanda, raised  75 million dollars last week. New investors included funds from Bezos and Bill Gates,” said Chen Tianqiao, founder of Shanda and the BCI research center Tianqiao and Chrissy Chen Institute (TCCI).

The Chinese BCI developer NeuroXess was founded in November 2021. It claims to be the Chinese version of Neuralink, a BCI firm established by Elon Musk, who is also the chief executive officer of spacecraft maker SpaceX, electric car provider Tesla and the social media platform Twitter.

In January, the company managed to raise 97 million yuan ($15.2 million) in the angel round and the pre-Series A round, led by Shanda Group and Sequoia Capital.