Shanghai StairMed Technology Co., Ltd., a specialist in implantable brain-computer interface (BCI) technology, has reportedly raised RMB350 million (USD48 million) through a Series B financing round. This is the largest financing round in the implantable BCI industry in China so far.
Funding Details
The funding round was led by Qiming Venture Partners, OrbiMed Advisors, and Lilly Asia Ventures. FountainBridge Capital also returned for a contribution. The proceeds will be used to accelerate product clinical trials, new – generation technology research and development, medical MEMS manufacturing facility construction, and BCI technology commercial implementation.
Company Background and Plans
Founded in 2021, StairMed boasts China’s first high-throughput implantable BCI system that meets medical device standards. The system is designed to assist paralyzed patients in completing complex brain control tasks. The company expects to put into operation the first medical – grade BCI MEMS production base in China this year. It has already established a 2000 sq.m production plant.-Fineline Info & Tech
