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Shanghai brain-computer interface company NeuroXess announced a RMB 700 million Series B round on 28 October 2026, co-led by SDIC Juli, Shenzhen Capital Group and Qinzhi Capital and described by 36Kr as dominated overall by state capital. The money will fund the multicentre registration trial of its implant for people with quadriplegia, a factory in Jiangxi and next-generation products.
The US Treasury proposed rules on 22 October 2026 that would prohibit US persons from most new non-public investments in companies that develop or produce brain-computer interfaces and are based in, or owned or controlled from, China, Hong Kong or Macau. The definition covers invasive and non-invasive systems and their software. Brain-computer interfaces sit in the rule's prohibited tier, with no notify-only option, no technical threshold and no small-deal exemption for direct investments. Comments are due by 7 December 2026.
Neuracle Technology (Shanghai) (博睿康), maker of China's first approved invasive brain-computer interface, has sold 13 NEO-ONE SCI implant systems and implanted 8 since its first commercial sale in July 2026, with more than 70 more in firm and intended orders. The system is listed at RMB 475,000 per set on procurement platforms in 27 provinces and is not covered by any basic medical insurance catalogue. Neuracle made the figures public on 29 September 2026 in its answers to the Shanghai Stock Exchange's first round of questions on its STAR Market listing application, 110 days after the application was accepted. First-half 2026 revenue was RMB 46.3 million, almost all from its non-invasive business and none from the implant, with a net loss of RMB 65.5 million. No listing committee meeting has been scheduled. None of the best-known Western developers of implanted BCIs, Neuralink, Synchron, Precision Neuroscience, Paradromics and Blackrock Neurotech, is publicly listed.
Three Chinese brain-computer interface operators are simultaneously moving through IPO processes on two exchanges. Neuracle Medical Technology (博睿康技术（上海）股份有限公司) is the leader: its Shanghai STAR Market prospectus was accepted 11 June 2026 with a planned RMB 2.5 billion (~US$345M) raise. Neuracle received China's first commercial invasive BCI approval from NMPA in March 2026 (NEO-ONE SCI for spinal cord injury). BrainCo (强脑科技) filed a confidential Hong Kong Exchange application in January 2026 (joint sponsors CICC and UBS), with the September 2026 pricing calendar showing no imminent hearing. Arfysica Innovation (术理创新), led by female founder Wang Wei, registered STAR Market pre-IPO tutoring in early September 2026 with Huatai United Securities, entering the pipeline three months behind Neuracle at the earliest stage. Neuracle's disclosed prospectus reveals RMB 108 million 2025 revenue, all from non-invasive EEG systems, with the NEO invasive product still at zero commercial revenue and 32 patients implanted by end-2025.
China's Ministry of Industry and Information Technology named brain-computer interfaces among six future industries in a State Council Information Office press conference on 26 August 2026, alongside quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, embodied intelligence, and 6G. MIIT's draft standards guide, published for comment on 24 August, targets at least 40 BCI standards by 2028 and at least 80 by 2030.
VCBeat, the Chinese healthcare-investment media outlet, published an on-record investor take on the Chinese brain-computer interface sector on 2 August 2026. Delian Capital partner Jiang Donghui framed the sector as at risk of a bubble cycle before maturity, laid out a four-quadrant investment matrix based on demand and technological advancement, and named Chinese BCI companies across invasive, semi-invasive and non-invasive paths. H1 2026 financing alone accounted for approximately 60 per cent of the sector's thirteen-year total.
On Friday 17 July 2026, at the World Artificial Intelligence Conference in Shanghai, BrainCo debuted its Brain-Controlled Robot AI Platform, a graphical developer toolkit that pairs its non-invasive EEG headset with third-party humanoid, robotic-arm, and quadruped robots from Unitree, Realman, and Deep Robotics. Nyx He, partner and senior vice president, framed the launch as the next chapter of human-machine collaboration. Live demonstrations at the booth showed a person in an EEG headband directing a robotic arm to pick up a cup and an apple without buttons, voice, or muscle movement.
CNBC published a video interview by China reporter Elaine Yu with Nyx He, Partner and Senior Vice President at BrainCo, on 10 July 2026. The interview lands six months after BrainCo confidentially filed for a Hong Kong Stock Exchange listing on 12 January 2026 with CICC and UBS Group AG as arrangers, and six months after the company closed a ¥2 billion (approximately US$286 million) financing round co-led by IDG Capital and Walden International on 8 January 2026. BrainCo is one of Hangzhou's Six Little Dragons alongside DeepSeek, Unitree Robotics, Game Science, DEEP Robotics, and Manycore Tech.
Neuracle, maker of the world's first approved invasive BCI, had a RMB 2.5B Shanghai STAR Market IPO prospectus accepted on 11 June 2026, opening a two-horse race with BrainCo for first publicly listed pure-play BCI.
BrainCo's new Revo 3 dexterous hand applies neural decoding and tactile sensing from prosthetic limbs to humanoid robotics, backed by a US$286 million funding round.
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