Inbrain Neuroelectronics closes €14.3 million round

Inbrain Neuroelectronics, spun-off from the Catalan Institute of Nanoscience and Nanotechnology (ICN2) and Icrea (and associated with the Graphene Flagship) , recently announced closing a $16.85 million (€14.3 million) round led by Asabys and Alta. The company has also received financial backing from Cdti and two international investors.

NBRAIN Neuroelectronics was established in 2019 with the mission of developing brain-implants based on graphene technology for applications in patients with epilepsy, Parkinson’s, and other neuronal diseases. These smart devices, built around an innovative graphene electrode, will decode with high certainty neural signals from the brain and produce a therapeutic response adapted to the clinical condition of the specific patient.

Inbrain Neuroelectronics is developing a minimally-invasive, intelligent neural interface that, powered by artificial intelligence (AI) and the use of big data, will have the ability to read and modulate brain activity, detect therapy-specific biomarkers, and trigger adaptive responses for optimal outcomes in personalized neurological therapies. The investment will enable the company to conduct trials and solidify the safety of graphene as a new standard of care and medical attention in neurotechnologies.

This is said to be one of the largest financing rounds carried out in the MedTech sector in Spain. It also involved the Centro para el Desarrollo Tecnológico Industrial (Cdti) and two international investors: Vsquared Ventures, a Munich-based deep tech venture capital firm, and TruVenturo GmbH, German technology, and life sciences startup.

In June 2020, Inbrain Neuroelectronics closed its first round of financing.