All the fundraising deals in the neurotechnology market (from Q2 2025 to Q2 2026)
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In our neurotechnology market deck, you will find everything you need to understand the market
Neurotechnology startups announced 44 funding rounds worth $2.98 billion between Q2 2025 and Q2 2026.
Brain-computer interface companies captured almost two-thirds of all neurotechnology market funding during the period.
Q1 2026 was the busiest quarter, with 16 deals worth more than $1.2 billion.
And if you want to better understand this new industry, you can download our pitch covering the neurotechnology market.
Insights
- Brain-computer interface startups raised $1.95 billion, or 65.6% of all neurotechnology market funding, despite representing only 14 of the 44 deals.
- The five largest neurotechnology funding rounds contributed $1.62 billion, which means only five transactions generated 54.3% of the total capital raised.
- Neuralink's $650 million Series E represented 82.4% of all neurotechnology funding announced in Q2 2025.
- Q1 2026 combined high deal volume with large rounds, as 16 neurotechnology companies raised $1.22 billion during the quarter.
- Neuromodulation was the broadest category, with 19 deals covering migraine, paralysis, depression, tremor, Alzheimer's disease, asthma and inflammatory conditions.
- Neurotechnology investors supported both implanted and non-invasive systems, rather than concentrating on one technical approach.
- Only one funding round was below $2 million, showing that most companies needed meaningful capital for clinical trials, hardware and regulatory work.
- Q2 2026 funding fell sharply after the Q1 2026 peak, but the quarter still included three rounds larger than $50 million.
- Khosla Ventures was the only publicly named investor linked to more than one company in the disclosed dataset, appearing in three rounds worth $440 million.
This market map, featured in our neurotechnology market deck, highlights top companies and startups in the neurotechnology market
Summary table of the funding deals in the neurotechnology market (last 5 quarters)
We define the neurotechnology market as products that directly measure, stimulate, or computationally interface with the human nervous system for clinical or validated functional outcomes.
We include neurodevices and their enabling software such as BCIs, neuromodulation systems, and neurodiagnostic or monitoring tools such as EEG systems and related analytics.
We exclude pharmaceuticals, general-purpose imaging infrastructure not purpose-built for neuro, and standalone wellness or mental-health apps that do not directly capture or act on nervous-system signals.
You can also read our detailed analysis to understand how funding activity in the neurotechnology market has evolved over the last few years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the neurotechnology market.
| Name | What they do | Amount in $ | Quarter |
|---|---|---|---|
| Spark Biomedical | Develops wearable ear stimulation devices for neurological and women's-health treatments. | $15M | Q2 2025 |
| Phantom Neuro | Builds implanted nerve interfaces that let people control prosthetic and robotic devices. | $19M | Q2 2025 |
| Magnus Medical | Provides personalized magnetic brain stimulation for treatment-resistant depression. | $23.7M | Q2 2025 |
| Salvia BioElectronics | Develops an implanted neurostimulation system for people with chronic migraine. | $60M | Q2 2025 |
| Neuralink | Develops implanted brain interfaces that help people with paralysis control digital devices. | $650M | Q2 2025 |
| Somnee | Makes an EEG headband that measures sleep and provides personalized electrical stimulation. | $10M | Q2 2025 |
| Rune Labs | Analyzes wearable and implanted-device data to monitor Parkinson's disease. | $11.2M | Q2 2025 |
| Nudge | Develops focused ultrasound technology that can image and stimulate the brain. | $100M | Q3 2025 |
| SetPoint Medical | Develops implanted nerve stimulation for rheumatoid arthritis and other autoimmune diseases. | $140M | Q3 2025 |
| Boomerang Medical | Develops implanted vagus-nerve stimulation for inflammatory bowel disease. | $20M | Q3 2025 |
| Cumulus Neuroscience | Provides home EEG headsets and digital assessments for neuroscience clinical trials. | $4.4M | Q3 2025 |
| CoMind | Measures cerebral blood flow and brain pressure without penetrating the skull. | $60M | Q4 2025 |
| ONWARD Medical | Develops spinal-cord stimulation systems that restore movement after spinal injury. | $58.1M | Q4 2025 |
| Coherence Neuro | Develops an implanted system that monitors and stimulates neural activity during cancer treatment. | $10M | Q4 2025 |
| Synchron | Develops an endovascular brain interface for computer control by people with paralysis. | $200M | Q4 2025 |
| NextSense | Develops wireless EEG earbuds for sleep and long-term brain monitoring. | $16M | Q4 2025 |
| Beacon Biosignals | Uses AI and EEG data to develop brain biomarkers for clinical care. | $86M | Q4 2025 |
| AI-Stroke | Uses smartphone video to identify possible stroke symptoms before hospital imaging. | $4.6M | Q4 2025 |
| Neuronoff | Develops injectable nerve-stimulation electrodes for chronic pain treatment. | $4.5M | Q4 2025 |
| Ampa | Develops portable magnetic brain stimulation for depression treatment outside large clinics. | $8.5M | Q4 2025 |
| Cala Health | Provides wrist-worn nerve stimulation for essential tremor and Parkinsonian tremor. | $50M | Q4 2025 |
| Neurable | Builds compact EEG sensors and brain software for headphones and wearable devices. | $35M | Q4 2025 |
| Merge Labs | Develops ultrasound technology designed to read, write and modulate brain activity. | $252M | Q1 2026 |
| BrainCo | Develops non-invasive brain interfaces, neural prosthetics and rehabilitation systems. | $286.3M | Q1 2026 |
| Enspire DBS Therapy | Develops deep-brain stimulation to improve motor recovery after stroke. | $10.3M | Q1 2026 |
| Spiro Medical | Develops lung-nerve treatment for people with severe asthma. | $67M | Q1 2026 |
| Neurent Medical | Develops radiofrequency nerve treatment for chronic rhinitis. | $74M | Q1 2026 |
| neuropacs | Provides neurological imaging workflows and clinical software for specialist interpretation. | $1M | Q1 2026 |
| Neupulse | Develops wearable electrical nerve stimulation for Tourette syndrome. | $3.8M | Q1 2026 |
| Temple | Measures brain and body signals to assess cognitive and physical performance. | $54M | Q1 2026 |
| Mave Health | Develops a wearable brain-stimulation headset for mental-health treatment. | $2.1M | Q1 2026 |
| Surf Therapeutics | Develops focused-ultrasound neuromodulation for Parkinson's disease and movement disorders. | $6M | Q1 2026 |
| StairMed | Develops implanted brain interfaces and adaptive deep-brain stimulation systems. | $72.7M | Q1 2026 |
| Gestala | Develops smart glasses with brain-signal sensing and interface functions. | $21.69M | Q1 2026 |
| ANEUVO | Develops non-invasive spinal stimulation for rehabilitation after spinal-cord injury. | $22M | Q1 2026 |
| Cognito Therapeutics | Uses synchronized light and sound stimulation to treat Alzheimer's disease. | $105M | Q1 2026 |
| Science Corporation | Develops retinal implants and neural interfaces designed to restore vision. | $230M | Q1 2026 |
| neuroClues | Uses high-speed eye tracking to detect signs of neurological disorders. | $10.8M | Q1 2026 |
| Beacon Biosignals | Uses AI and EEG datasets to develop clinical brain biomarkers. | $11M | Q2 2026 |
| BCI-Sonics | Develops an AI-powered ultrasound interface for non-invasive interaction with brain activity. | $14M | Q2 2026 |
| Axoft | Develops soft implanted electrodes that record neural activity with less tissue damage. | $55M | Q2 2026 |
| Neurosoft Bioelectronics | Develops stretchable cortical electrodes for neural recording and stimulation. | $7.5M | Q2 2026 |
| Nervonik | Develops implanted nerve stimulation for inflammatory and autoimmune diseases. | $52.5M | Q2 2026 |
| WISE | Develops thin implanted electrodes for neural monitoring and stimulation. | $34.8M | Q2 2026 |
In our neurotechnology market deck, we identify pain points entrepreneurs should prioritize
How has funding activity in the neurotechnology market changed over time?
Q1 2026 was the most active quarter, with 16 deals worth $1.22 billion, supported by large rounds from BrainCo, Merge Labs and Science Corporation.
Q2 2026 was the least active quarter by capital, as six neurotechnology funding rounds raised $174.8 million.
Neurotechnology market funding fell by 85.7% between Q1 2026 and Q2 2026, and fell by 77.8% compared with Q2 2025.
The underlying neurotechnology funding trend was more stable than the headline totals suggest. Removing the one or two largest rounds from each quarter greatly reduces the sharp peaks in Q2 2025 and Q1 2026.
| Quarter | Number of deals | Total raised ($) | Comment |
|---|---|---|---|
| Q2 2025 | 7 | $788.9M | Neuralink's $650 million round generated most of the quarter's neurotechnology funding. |
| Q3 2025 | 4 | $264.4M | SetPoint Medical and Nudge supplied most of the quarter's capital. |
| Q4 2025 | 11 | $532.7M | Funding broadened across BCIs, EEG platforms, monitoring systems and therapeutic devices. |
| Q1 2026 | 16 | $1.22B | Three large BCI rounds combined with the highest deal count of the period. |
| Q2 2026 | 6 | $174.8M | Funding slowed, although Axoft and Nervonik still raised rounds above $50 million. |
| All quarters | 44 | $2.98B | Neurotechnology funding remained active but depended heavily on a small number of major rounds. |
This chart, featured in our neurotechnology market deck, shows why Neuropace is winning in neurotechnology
Which startups in the neurotechnology market raised the largest rounds over the last months?
These startups raised the most recently in the neurotechnology market:
- Neuralink raised $650 million to expand clinical trials, increase production and develop new uses for its implanted brain-computer interface.
- BrainCo raised approximately $286.3 million to scale neural prosthetics, rehabilitation systems and international commercialization.
- Merge Labs raised $252 million to establish its research team and develop a non-invasive ultrasound neural interface.
- Science Corporation raised $230 million to advance the PRIMA retinal implant and other high-bandwidth neural interfaces.
- Synchron raised $200 million to accelerate commercialization of its endovascular brain-computer interface and expand clinical operations.
- SetPoint Medical raised $140 million to prepare its implanted neuroimmune therapy for approval, manufacturing and commercialization.
- Cognito Therapeutics raised $105 million to fund pivotal development of its light-and-sound treatment for Alzheimer's disease.
- Nudge raised $100 million to build its focused-ultrasound brain interface and begin clinical development.
- Beacon Biosignals raised $86 million to expand its EEG dataset and move brain biomarkers into clinical use.
- Neurent Medical raised $74 million to expand sales of its chronic-rhinitis treatment and develop additional applications.
And, yes, we do cover most of them in our our beautiful pitch about the neurotechnology market.
You may also want to check our ranking of the most funded startups in the neurotechnology market as well as our list of the most valued startups.
This chart, featured in our neurotechnology market deck, shows annual funding in neurotechnology startups
Is the neurotechnology market shifting toward smaller or bigger deals?
The average neurotechnology funding round was $67.7 million across the five quarters, but a few very large BCI rounds lifted this figure.
The quarterly average ranged from $29.1 million in Q2 2026 to $112.7 million in Q2 2025. The difference mainly came from exceptional rounds such as Neuralink's $650 million Series E.
Without the largest outliers, the neurotechnology market would show a more moderate funding pattern, with many companies raising between $2 million and $35 million.
| Quarter | Number of deals | Average deal size | Deals below $2M | Deals above $50M |
|---|---|---|---|---|
| Q2 2025 | 7 | $112.70M | 0 | 2 |
| Q3 2025 | 4 | $66.10M | 0 | 2 |
| Q4 2025 | 11 | $48.43M | 0 | 4 |
| Q1 2026 | 16 | $76.17M | 1 | 8 |
| Q2 2026 | 6 | $29.13M | 0 | 3 |
| All quarters | 44 | $67.72M | 1 | 19 |
This chart, featured in our neurotechnology market deck, compares the main business model options for neurotechnology device platforms
How concentrated was funding activity in the neurotechnology market?
Neurotechnology funding was highly concentrated in Q2 2025, when Neuralink alone captured 82.4% of the quarter's capital. Concentration then declined as more companies completed meaningful rounds.
Across all five quarters, the largest deal represented 21.8% of funding, while the ten largest rounds represented 71.3% of the neurotechnology market total.
| Quarter | Number of deals | Top 1 | Top 3 | Top 10 |
|---|---|---|---|---|
| Q2 2025 | 7 | 82.39% | 93.00% | 100.00% |
| Q3 2025 | 4 | 52.95% | 98.34% | 100.00% |
| Q4 2025 | 11 | 37.54% | 64.95% | 99.16% |
| Q1 2026 | 16 | 23.49% | 63.04% | 97.21% |
| Q2 2026 | 6 | 31.46% | 81.41% | 100.00% |
| All quarters | 44 | 21.82% | 39.88% | 71.26% |
This chart, featured in our neurotechnology market deck, breaks down revenue by customer segment in the neurotechnology market
Which categories in the neurotechnology market received the most funding?
Brain-computer interfaces raised $1.95 billion, equal to 65.6% of all neurotechnology market funding. Investors committed large sums to platforms that could support several clinical or assistive uses.
Neuromodulation devices raised $757.3 million across 19 deals. This category attracted frequent rounds because each device targets a clear medical condition and clinical milestone.
Neuro-monitoring tools raised $140 million across four deals. The category remained smaller, but funding supported systems that collect useful brain data outside traditional laboratories.
| Category | Number of deals | Total raised | Startups and amount |
|---|---|---|---|
| Brain-computer interfaces | 14 | $1,953.19M | Phantom Neuro ($19M), Neuralink ($650M), Nudge ($100M), Neurable ($35M), Synchron ($200M), Coherence Neuro ($10M), StairMed ($72.7M), Gestala ($21.69M), Science Corporation ($230M), Merge Labs ($252M), BrainCo ($286.3M), BCI-Sonics ($14M), Neurosoft Bioelectronics ($7.5M), Axoft ($55M) |
| Neuromodulation devices | 19 | $757.30M | Spark Biomedical ($15M), Salvia BioElectronics ($60M), Magnus Medical ($23.7M), Boomerang Medical ($20M), SetPoint Medical ($140M), ONWARD Medical ($58.1M), Ampa ($8.5M), Cala Health ($50M), Neuronoff ($4.5M), Mave Health ($2.1M), Surf Therapeutics ($6M), ANEUVO ($22M), Cognito Therapeutics ($105M), Neupulse ($3.8M), Neurent Medical ($74M), Enspire DBS Therapy ($10.3M), Spiro Medical ($67M), Nervonik ($52.5M), WISE ($34.8M) |
| Neuro-monitoring tools | 4 | $140.00M | Somnee ($10M), NextSense ($16M), CoMind ($60M), Temple ($54M) |
This chart, featured in our neurotechnology market deck, shows how brain sensing wearable technology has evolved over time
Who are the biggest investors in the neurotechnology market?
Khosla Ventures was the most active disclosed investor in the neurotechnology market, with participation in three rounds involving Somnee, Synchron and Science Corporation.
No other publicly named investor appeared in more than one qualifying round. This result reflects limited disclosure rather than a complete absence of recurring neurotechnology investors.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. “Total funded” does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of deals | Total funded | Startups |
|---|---|---|---|
| Khosla Ventures | 3 | $440M | Somnee, Synchron, Science Corporation |
This chart, featured in our neurotechnology market deck, shows how brain-computer interface progress has driven growth in the neurotechnology market over time
Related blog posts
- All funding deals in the neurotechnology market
- Which companies have raised the most funding in the neurotechnology market?
- How strong is fundraising in the neurotechnology market right now?
