Neurotech Futures

The data is in: neurotech companies raised over $2.3B in 2024 ?? Big shout-out to Naveen Rao for analysing all the neurotech deals of 2024 and sharing them in such an informative graphic ?????? There are lots of angles from which to look at this data, and lots of insights to tentatively draw. I strongly encourage you to read through Naveen's analysis yourself, and take some time to explore the data. Personally my eye was drawn to the implanted vs non-implanted comparison. As someone who works mostly in the implanted medical devices space, it was really interesting to see that whilst implanted devices did raise more money in total ($1.3B vs $1B non-implanted), they dominated less than I might have expected, with really significant investments going to non-invasive companies like INSIGHTEC, Openwater and Neuronetics, Inc. Some stats that I noted: ?? On average, the deal size for implantable device companies ($36M) is 3x higher than that for non-invasive neurotech companies ($11M). This isn't a big surprise, as it typically takes significantly more time and money to develop an implant than a wearable. ?? Of the 20 largest deals of 2024, nearly half (8) were non-invasive. So, it is still very possible to raise large rounds ($50M+) with non-invasive technology, when the market size is large and the product market fit is right. I will admit, this one did surprise me. ?? In total there were nearly 3x more deals closed by non-implant companies (93 vs 36). A few possible interpretations here. It's easier to place more, smaller bets in the non-implantable space. Or, the neurotech market is gradually shifting from invasive medical implants towards less invasive, more accessible therapies, with earlier stage companies closing the smaller deals. Most likely we're seeing a bit of both. What jumps out at you from this data? Were there any surprises for you? Neurotech Futures’ 2024 Funding Snapshot. https://rb.gy/fic5so

?? Just a reminder for the global #neurotech network: North American Neuromodulation Society (NANS) 2026 Proposals are Due Tomorrow! #NANS2026 is set to take place January 22-25 in Las Vegas, Nevada. But what happens in Vegas won't stay there! Our field is changing fast, and next year's show will cover a broad range of neuromodulation topics, including advocacy/ethics, basic science, brain, business of medicine, global access to neuromodulation, neural engineering, peripheral nerve, wearables and more. Submit your proposal by Tuesday, March 11, 2025 at 1:00 PM CDT through the online proposal system below: https://lnkd.in/g2hmgiqZ

?? ANNOUNCEMENT: Our ???????? ?????????????????? ?????????????? ???????????????? ???????????? is Now Live! ?? (Link In Comments) ?? ?? After 12 months of tracking over 2,000 market developments in our Substack followed by 10 weeks of cleanup, enrichment, and analysis, we're thrilled to share this original?report?covering $2.3 Billion invested across 129 deals in 2024. Some highlights and takeaways: ?? We might be on track to top $4b in 2025 based on prior years' data and some back of napkin CAGR ?? 7 companies topped $100m in funding last year: Blackrock Neurotech, INSIGHTEC, Mainstay Medical, Precision Neuroscience, and Amber Therapeutics Nalu Medical, Inc., Openwater, and ONWARD Medical ?? 6 companies raised over $50m: SPR Neuronetics, Inc., ShiraTronics, Inc., Omniscient Neurotechnology (o8t), Cala Health, & INBRAIN Neuroelectronics. ?? $400m was invested into 27 Series A rounds: $303m went to 7 implanted devices (2 brain, 3 peripheral nerve, 2 spinal cord) and $189m went to 20 non-implanted approaches. Excluding Amber Therapeutics’ $100m round, the average size of seris A rounds was $12m. ?? 63 seed deals reflect $132m of investments, almost $2.1m on average. This includes $27m for PNS & SCS, $21m for ultrasound, $22m for EEG, $19m for “Other” (AR, VR, Prosthetics, EMG) and $12m for AI, $9m for BCI, $7m for cognitive assessment, $6m for tDCS, and $5m for digital health tools. ?? Top 5 Markets/Indication areas: #Pain ($399m over 10 deals), #Parkinson’s ($278m over 9 deals), R&D ($381m over 11 deals), #Depression ($205m over 8 deals) and #Disability ($247m over 8 deals) ?? Check out the report in the comment below for additional data and plenty of notes on methodology. Paid subscribers to Neurotech Futures will also have access to charts and analysis covering Timeline,?Breakdown by Category,?Markets,?Implanted vs Nonimplanted devices, Global?Geography, and?Broader Context. Lastly, here is our editor-in-chief Naveen Rao on why this analysis is important: As government funding for frontier R&D changes, the financial capital required to start, build, and grow new ventures?is a crucial factor and key bottleneck in commercial translation. Funding thus represents a?key vital sign?for the health of the field. It's my hope that this analysis advances innovation in three ways: ?? 1) Help investors and LPs refine their thesis to help attract more capital to the field ?? 2) Provide founders and executive teams with additional context on positioning, timing, and competition ?? 3) Guide students and professionals in navigating career transitions, i.e. finding companies or sectors that are better capitalized to hire new positions." #neurotech #braincomputerinterface #BCI #neuromodulation #investing #startups #meddevice #FDA #venturecapital #ultrasound #

?? ?? ?????????????????? ???????????????? #????????? ????????! ?? Going into year two of covering this field, it’s becoming clear to me that this industry draws resilience from how the continued success of traditional businesses is integrating with the relentless upgrades in technology and the emergence of novel modalities, new players, and expanding market applications. Here’s what happened in the last two weeks: ?? $150+ in fresh funding mostly for traditional implanted neuromod companies like Neuspera Medical Inc. Valencia Technologies, but also towards a frontier nanoparticle BCI Subsense Inc. and other emerging markets, alongside new funding opportunities for founders ??? A pair of novel FDA clearances for Medtronic and an "interesting" crowdfunded startup, as well as some important regulatory developments across the pond in the UK’s NHS and the EU’s MDR. ?? A diverse commercial roundup this fortnight, from new clinical milestones in non-invasive and implanted devices (ONWARD Medical Neurosoft Bioelectronics @, to a novel crypto platform from Tether.io, and various partnerships Precision Neuroscience, acquisitions Stryker, exec appointments and more. ?? Wheelbarrows of industry activity worth a click Kernel Augmental SpineX Inc. Focused Ultrasound Foundation. New cohort at One Mind and news from companies in Smell, Sound, Voice, and Vision. You want Meta articles about EMG or about MEG? The latter is having a moment across this edition, bridging traditional bioelectronics to new market access models (MYndspan + BIOS Health Ltd). Additional clicks in BCI, spinal stim, ultrasound, life sciences, and more. ?? Promising research in a number of (wildly different) neuroimaging projects, gender, EMG, spinal cord stimulation, wearables in clinical research, all the neural interfaces. ?? This weekend, remember: when it comes to the brain, microplastics = bad, plasticity = good, nanoparticles = mouse stage, eeg = dog-friendly, and lastly, that the only thing more fun than wearing neurotech is?sharing neurotech. Make sure to subscribe to the Substack for a ＳＰＥＣＩＡＬ ＳＵＲＰＲＩＳＥ in your inbox next week, and follow Neurotech Futures to stay plugged in. Most importantly: Happy Friday, all! ?? #neurotechnology #BCI #braincomputerinterface #neuromodulation #deepbrainstimulation #dbs #bioelectronics #consumer #neurotech #FDA https://lnkd.in/gMNkwKXQ

?? ? ?????????????????? ???????????????? #????: ?????? ???????? ?? ?????????????????? ?????????????? ?????? ???????????????????? ?? ?? NeuroPace has announced a $65M offering for advancing its work in neuromodulation for epilepsy treatment (MassDevice). ?? Valencia Technologies has secured $35M and has appointed James D. Surek as CEO (BioSpace). ?? Subsense Inc. has launched with $17M for developing non-invasive BCI tech utilizing nanoparticles for converting electrical signals into optical ones in the brain. Applications include within ALS, Alzheimer’s & Parkinson’s, but the company's long-term vision can expand into "super vision," brain-AI integration and memory cloud storage (Endpoints News). ?? Frontera Therapeutics has launched with $32M for developing video-based digital phenotyping for autism, backed by Lightspeed, Bison Ventures, Lux Capital, Inspired Capital, and Menlo Ventures (LinkedIn). ? Neuro Event Labs Oy has raised €2.0M for expanding in the US and Europe to bring AI-powered epilepsy seizure detection to market (Neuro Event Labs). ?? Big Sky Capital VC has invested in UK-based BrainPatch, supporting the development of wearable neurotech for mental well-being and cognitive enhancement (LinkedIn). ?? NIREMIA Collective has invested in Piramidal (YC W24) (LinkedIn). ?? UKRI has announced a new ￡9M Medical Research proof-of-concept fund (LinkedIn). ?? University of Minnesota Medical School has received $1.2M to study treatment possibilities for Tourette syndrome through neuromodulation-based therapies (University of Minnesota). ???? Canada’s largest neurotech startup award, Ontario Brain Institute’s NERVE program, is now accepting applications, offering $100,000 in funding, mentorship, and commercialization support (OBI). ???? UK-based MedTech founders can now apply for the MedTech Venture Builder (LinkedIn). ?? PsyMed Ventures has outlined key investment areas in brain health for Fund 2 (PsyMed). ?? Cornell University has received a $6.2M grant for evaluating supine vs. upright PET scanners aiming to begin clinical trials in 2025 and 2026 (NYP). #Neurotech #BrainHealth #BCI #MedTech #Neuroscience #DigitalHealth #Neuromodulation #Alzheimers #Epilepsy #MentalHealth

Thrilled to share that Dario J. Englot and I were appointed by NANS President Ahmed M. Raslan as SPC Chairs for #NANS2026. We are returning to #LasVegas on January 22-25, 2026, and we’re committed to delivering a dynamic, thought-provoking, and engaging scientific program. We welcome creativity in session proposals—think panel discussions, debate-style lectures, and innovative formats that push the boundaries of neuromodulation education. ?? Have a great idea for a session? Submit your proposal by March 11 ?? https://lnkd.in/e45N5Qms Stay tuned for more details—we can’t wait to shape an incredible meeting together! #Neuromodulation #Innovation North American Neuromodulation Society (NANS) Keri Kramer, CAE Amy (Lipsky) Kephart, MPH, CAE Jessie Schlacks Chelsey Hoffmann Dalia ElMofty David Hao Anuj Bhatia yashar Eshraghi Casey Grillo Matthew C. Ramanjot S. Kang, MD Rosalynn Conic Alopi Patel M.D., FASA Saba Javed Magdalena Anitescu Parag Patil Ellen Air Nebojsa Nick Knezevic, MD, PhD

?? ? ?????????????????? ???????????????? #????: ?????? ???????? ?? ???????????????????? & ???????????? ???????????? ???? ?????????????????? ?? ???? RFK Jr. has been confirmed as U.S. Department of Health and Human Services (HHS) Secretary, guaranteeing major changes for the FDA, The National Institutes of Health, and other health agencies (MedTech Dive). ?? NIH funding cuts could reduce indirect costs to 15%, starting debates on how these cuts will impact research institutions and innovation. ?? Neuvotion, Inc. has secured FDA clearance for NeuStim, its high-resolution, non-invasive neurostimulation system for stroke and spinal cord injury rehabilitation (News Journal). ? Newronika S.p.A. has received IDE from the FDA to begin clinical trials in the U.S. for its adaptive deep brain stimulation system, testing its AI-driven approach to personalized neurostimulation (PR Newswire). ?? PathMaker Neurosystems Inc. has gained IRB approval for its DoD-funded ALS clinical trial of the MyoRegulator neuromodulation device (GlobeNewswire). ?? FDA has cleared AI-driven 3D head and neck imaging technology for improving stroke and neurological emergency diagnostics from RapidAI (MassDevice). ?? Do mobile stroke units need further legislation? A paper in JAMA Neurology has called for reimbursement strategies and policy changes for expanding access to mobile stroke treatment units. ?? EVERSANA has broken down regulatory shifts, such as in AI governance, reimbursement trends, and digital therapeutics pathways towards approval in a paper titled "The Evolution of Digital Health Policy: 2024 Review & 2025 Outlook." #Neurotech #BrainHealth #AIinHealthcare #Neuromodulation #RegulatoryNews #Innovation #MedicalDevices #ClinicalTrials #Neuroscience #MentalHealthTech

?? ? ?????????????????? ???????????????? #????: ?????? ???????? ?? ???????? ?????????????????? ???????????????? ?????????????? ?? ?? Cutting Edge Health have partnered to improve neuromodulation therapies (GlobalData Healthcare). ?? Medtronic and Boston Scientific have settled their Axonics, Inc. IP dispute regarding neuromodulation patent battles (MassDevice). ?? electroCore, Inc. has expanded its intellectual property portfolio in bioelectronic medicine (ElectroCore). ??? Neuros Medical, Inc. and Veterans Healthcare Supply Solutions have partnered to provide chronic post-amputation pain treatment for veterans and active-duty military at VA healthcare facilities (PR Newswire). ?? SynchNeuro, Inc. has come out from stealth with their brain-guided, non-invasive glucose monitor for pre-diabetes (LinkedIn). ?? Apple has integrated heart rate monitoring into Powerbeats Pro 2 (TechCrunch). ?? CVRx | Barostim’s real-world analysis has shown that the baroreflex activation therapy improves healthcare utilization for heart failure (Journal of Cardiac Failure). ?? CVRx stock dipped after a Q4 EPS miss (MassDevice). ?? Globus Medical will acquire Nevro to expand its spinal stimulation treatment portfolio (GlobeNewswire). ?? Over 50% of the $11.5B spine device market has been dominated by Globus Medical, Johnson & Johnson, and Medtronic, according to an analysis by LSI. ?? Stryker’s exit from spine implants has sparked surgeon debate: “Slow to innovate, lost market share, and no longer worth the effort.” (Becker's spine review) #Neurotech #Neuromodulation #Neuroscience #BrainHealth #AIinHealthcare #MedicalDevices #BCI #WearableTech #DigitalHealth #Neurotechnology

Are you a startup, founder, or #neurotech leader impacted by the FDA's weekend staff cuts? Please DM or email me - I'm working on a story and am looking for some expert perspectives from #braincomputerinterface and other neurotechnology operators. Original article from Reuters News Agency in the comments.

?? ? ?????????????????? ???????????????? #????: ?????? ???????? ?? ?????????????????? ???????????????? ?????????????? ?? ?? NHS NICE - National Institute for Health and Care Excellence has announced changes to the economic evidence requirements for the assessment of health technology, and could be linked to the NHS’s Early Value Assessments (LinkedIn | NICE). ?? MYndspan and BIOS Health Ltd have partnered to scale precision neuroscience by making brain monitoring technology more accessible (PR Newswire). ?? Wyss Center for Bio and Neuroengineering has partnered with BrainScape Medical for licensing the Epios technology to improve minimally-invasive brain monitoring (BusinessWire). ?? Neuro Wellness TMS Centers of America has expanded its Center of Excellence through the addition of the SAINT TMS Therapy for depression treatment (EIN Presswire). ???? NXR and EMOTIV have launched an emotional heat-mapping technology (Malaysian Reserve). ?? Tivic Health has acquired exclusive rights to the Phase III TLR5 Agonist (from Statera BioPharma, Inc.) (BusinessWire). ?? JOGO Health and the Ramaiah Memorial Hospital have partnered in Bangalore in order to provide digital pelvic floor treatments through neuromodulation (LinkedIn). ????????????? ?????? ?? ?????? ??????????-???????? ???????????????????? ?????????????? - Synchron has hired Omid Fourozan as VP of Clinical (LinkedIn) - Nikhil George has joined Precision Neuroscience as Head of Software & AI (LinkedIn) - MedRhythms, Inc. has appointed Joel Behnke as Chief Commercial Officer while announcing new InTandem? research (PR Newswire) - Epitel has named former Dexcom executive Steven Pacelli as CEO (LinkedIn) - Beacon Biosignals has appointed Leticia Soto as VP of Quality (LinkedIn) - Rune Labs has hired Zach Henderson as Chief Revenue Officer (LinkedIn) - CoMind has appointed Simon Morling as Chief Operating Officer (LinkedIn) - Neurolief has named Dr. Owen Muir as Chief Medical Officer to drive depression treatment innovation (PR Newswire) - Cognito Therapeutics, Inc. has made four C-Suite appointments (CityBiz) #Neurotech #Neuromodulation #Neuroscience #BrainHealth #AIinHealthcare #MedicalDevices #BCITechnology #WearableTech #DigitalHealth #Neurotechnology