Neurable, a Boston-based neurotechnology company, has raised $13 million in a recent funding round led by Ultratech Capital Partners, TRAC, Pace Ventures, and Metaplanet. This brings the company's total funding to over $30 million since its founding.
The company plans to use the new funds to expand its platform technology and make its non-invasive brain-computer interface (BCI) accessible to a wider consumer audience. Neurable's technology uses AI-powered electroencephalography (EEG) optimized for compact form factors, allowing the platform to record brain activity and provide users with their brain data in a non-invasive manner.
Neurable has partnered with consumer wearable companies, such as headphone manufacturer Master & Dynamic, to embed EEG sensors into everyday devices. The company is set to launch the MW75 Neuro, the first-ever BCI-enabled headphones, for $699 this summer.
In addition to its consumer-focused endeavors, Neurable has collaborated with the Air Force Research Lab's 711 Human-Performance Wing to validate its technology and explore its potential in enhancing human performance. This partnership has led to $5 million in contracts from the Department of Defense to further develop the company's cutting-edge technology.
Dr. Ramses Alcaide, CEO and Co-Founder of Neurable, stated, "This new round of funding underscores our commitment to making Neurable's brain-computer interface technology accessible to everyone. We're empowering individuals to understand their own mind, optimize human performance, and conquer the most pressing health challenges of our generation."
With this new investment, the company plans to expand their platform and licensing business, making their unique, non-invasive BCI technology accessible to a wide range of consumer products, include earbuds, helmets, and other head-worn devices aimed at optimizing human performance.