Market Moves New York-headquartered invasive brain-computer interface operator Precision Neuroscience closed a $250 million oversubscribed Series D on Thursday 24 September 2026. Three co-leads: Pershing Square (Bill Ackman's investment firm), the Ackman Oxman Institute (the philanthropic BCI-and-neurotechnology venture Bill Ackman and Neri Oxman announced in August 2026 after their daughter Lucy's brain hemorrhage), and an undisclosed leading life-sciences investment fund. Additional participation from Duquesne Family Office (Stanley Druckenmiller), B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures, JSL Health Capital, and others. Total capital raised since 2021 founding is now $430 million. Proceeds will expand the clinical programme, advance Layer 7 through the next stages of FDA review, and build the infrastructure required for commercialisation. Precision was founded in 2021 by Ben Rapoport (Neuralink founding-team scientist, left Neuralink in 2018, Mount Sinai neurosurgeon), Michael Mager (CEO), Demetrios Papageorgiou, and Mark Hettick. Layer 7 is a thin-film microelectrode array of up to 1,024 electrodes per array that conforms to the cortical surface, non-penetrating, safely removable. Layer 7 holds an FDA 510(k) clearance authorising commercial use for recording, monitoring, and stimulating on the cortical surface for temporary use of less than 30 days (cleared 30 March 2025), and has been used across 100-plus patient procedures at 18 medical institutions including the University of Pennsylvania Perelman, University of Chicago Medicine, Mount Sinai, and WVU Rockefeller Neuroscience Institute. Precision runs a wholly-owned MEMS manufacturing facility in Texas and holds a Medtronic commercial partnership. BrainGate founder and 2026 Queen Elizabeth Prize for Engineering laureate John Donoghue joined as Scientific Advisor on 23 July 2026. The Series D closes two days after Chinese non-invasive BCI operator BCI-Sonics closed a HongShan and Yunqi Partners-led RMB 200 million Pre-A in Shanghai on 22 September, the same day Premier Li Qiang inspected brain-computer interface products in Shanghai. Two top-tier private-capital signals into invasive and non-invasive brain-computer interface operators, one on each side of the Pacific, inside a single week.
Sep 25