Chinese brain-computer interface companies have raised billions of yuan in 2026, much of it alongside state-backed funds.
At least four companies are working towards stock market listings.
This tracker lists the 2026 financing rounds and listing steps by Chinese brain-computer interface companies that InsideBCI has verified.
Financing rounds in 2026
BrainCo
Hangzhou · Non-invasive headbands and prosthetic hands
InvestorsIDG Capital and Walden International (co-leads); Lens Technology, OmniVision among others
Our coverage →Arfysica
Shanghai · Brain-signal-driven rehabilitation
InvestorsNational SME Development Fund, Oriental Fortune Capital
Our coverage →Arfysica
Shanghai · Brain-signal-driven rehabilitation
InvestorsDaohe, Dongfang Hengxin, Xinding (no lead named)
Our coverage →Zhiran Medical
Beijing · Implanted BCI with flexible electrodes
InvestorsCAS Star (lead); existing shareholders Legend Capital, IDG Capital, Shunwei Capital, HongShan
Source →Gestala
Chengdu and Shanghai · Ultrasound BCI
InvestorsGuosheng Capital (国生资本) and Dalton Venture (co-leads)
Our coverage →StairMed
Shanghai · Implanted BCI
InvestorsAlibaba (lead); existing shareholder Tencent; SDIC Unity, OrbiMed, Qiming
Our coverage →OYMotion
Shanghai · Muscle-signal sensing, rehabilitation exoskeletons and bionic hands
InvestorsShenzhen brain-science fund managed by CICC Capital (lead)
Our coverage →Nanochap
Hangzhou · Retinal implant and neural chips
InvestorsLegend Capital and an unnamed industrial investor (co-leads). Tencent, through Shanghai Qishan Investment, appeared as a new shareholder in business records in late May
Our coverage →BCI-Sonics
Shanghai · Transcranial ultrasound
InvestorsMatrix Partners China (angel); Delian Capital and Daoyuan Capital (Angel+)
Our coverage →Sisen Technology
Ultrasound drug delivery for brain cancer
InvestorsInno Angel Fund, Tsinghua Alumni Seed Fund
Our coverage →Gestala
Chengdu and Shanghai · Ultrasound BCI
InvestorsHuaying Capital, also known as Meridian Capital China (lead); C Capital, HongShan, Lens Technology among others
Our coverage →Weiling Medical
Shenzhen · Fully implanted wireless BCI
InvestorsJunzhong Capital (lead); Innotek
Our coverage →BCI-Sonics
Shanghai · Transcranial ultrasound
InvestorsHongShan and Yunqi Partners (co-leads)
Our coverage →NeuroXess
Shanghai · Fully implanted wireless brain-surface implant
InvestorsSDIC Juli, Shenzhen Capital Group, Qinzhi Capital (co-leads)
Our coverage →Nanochap
Hangzhou · Retinal implant
InvestorsGaorong Ventures (lead); PICC Equity, Monolith, C&D Emerging Industry Investment, Hangzhou Industrial Investment Group
Our coverage →Zhudong Technology
Shanghai · Implanted BCI
InvestorsGaorong Ventures, Shanghai Guotou Xiandao Fund, Shanghai Science and Technology Venture Capital (co-leads); China Internet Investment Fund
Our coverage →StairMed has also said it has raised about RMB 1.4 billion since July 2026, without naming the rounds, dates or investors, so those rounds are not listed separately above.
Listings in progress
Confidential listing application reported by Bloomberg on 12 January 2026, with CICC and UBS working on the deal. No hearing reported by 8 November.
Our coverage →Pre-listing tutoring registered 4 February 2026 with CITIC Securities and completed 9 June. Application accepted 11 June, seeking RMB 2.5 billion. Exchange questions issued 24 June; answers and an updated prospectus published 29 September. Under review.
Our coverage →Pre-listing tutoring registered with the China Securities Regulatory Commission's Shanghai office on 4 September 2026, with Huatai United Securities.
Our coverage →Pre-listing tutoring filing disclosed around 2 November 2026, after a tutoring agreement signed on 30 October, with Huatai United Securities. Says it has raised about RMB 1.4 billion since July and RMB 2.6 billion in total as of September 2026.
Our coverage →Who raised the most
Among announced amounts, BrainCo raised about RMB 2 billion in January. StairMed raised RMB 500 million in March and says it has raised about RMB 1.4 billion more since July. Nanochap raised RMB 800 million across two rounds, Zhudong Technology RMB 794 million across two rounds, NeuroXess RMB 700 million and Gestala RMB 570 million across two rounds.
Signal: Why it matters
State-backed investors appear at every stage, from Zhudong Technology, founded in February 2026 and backed by the China Internet Investment Fund before reporting any human implant, to NeuroXess and Nanochap, which are running clinical trials. Named state-backed investors in 2026 rounds include SDIC Juli and Shenzhen Capital Group in NeuroXess, PICC Equity and Hangzhou Industrial Investment Group in Nanochap, and the National SME Development Fund in Arfysica. Ultrasound companies, Gestala, BCI-Sonics and Sisen Technology among them, raised early rounds alongside the implant developers. For overseas investors, the US Treasury proposed in October 2026 to bar most new US private investment in Chinese brain-computer interface companies.
Not disclosed
Several companies have not named round labels, valuations or all of their investors, and StairMed has not itemised the rounds behind its RMB 1.4 billion raised since July. Where a company has not disclosed a detail, the table says so.
Forward Radar: What to watch
Whether Neuracle’s STAR Market application goes to a listing committee hearing.
Whether BrainCo publishes a Hong Kong prospectus.
Whether StairMed and Arfysica file listing applications after their pre-listing tutoring.
Whether the US Treasury’s proposed rule on investment in Chinese brain-computer interface companies is finalised.
Sources
Rows come from InsideBCI’s published coverage, checked against company announcements, exchange filings and Chinese financial media. Amounts are as announced, in the currency announced. Corrections: hello@dargentic.com.
Primary and coverage:
- Pedaily: Zhudong Technology (Shanghai Active Technology) RMB 330 million angel round led by CAS Star, August 2026
- Science and Technology Daily: Gestala RMB 150 million angel round, 12 March 2026
- The Paper: BrainCo completes about RMB 2 billion financing, 6 January 2026
- TechNode: BrainCo files for Hong Kong IPO, 13 January 2026
- TechNode: Nanochap raises RMB 500 million, 3 November 2026
- 36Kr: Zhiran Medical RMB 300 million A+ round, February 2026
- Pedaily: Sisen Technology seed+ round, August 2026
- 36Kr: Huachao Shenkong (BCI-Sonics) angel and Angel+ rounds, June 2026
- Shanghai Stock Exchange: Neuracle reply to first-round questions, 29 September 2026
Cross-reference to prior InsideBCI coverage: