Precision Neuroscience has raised an oversubscribed $250 million Series D, bringing total funding to $430 million. The round comes as BCI funding concentrates around a small group of companies able to support clinical trials, regulatory work, manufacturing, and commercialization. More than $2 billion has flowed into the sector over the past 18 months.
Precision has already completed more than 100 patient procedures across 18 medical institutions. The capital will support expansion of Precision’s clinical program, further FDA work, and commercialization infrastructure around its Layer 7 platform. It follows FDA clearance for temporary cortical use, a Medtronic partnership, in-house manufacturing, and progress toward a fully implantable BCI.
The Series D was co-led by Pershing Square, the newly launched Ackman Oxman Institute, and an undisclosed life sciences investment fund. Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures, and JSL Health Capital also participated. Precision mentions that the round was oversubscribed. The new funding brings total capital raised to $430 million.
The capital will support Precision’s clinical expansion and broader commercialization push, including further FDA work on Layer 7. The company already has FDA clearance for temporary cortical use of Layer 7, while its fully implantable BCI for people with severe paralysis remains under development.
“The next phase of BCI will be defined by more than technology alone,” CEO Michael Mager said. He pointed to Precision’s clinical network, regulatory position, manufacturing base, and relationships with neurosurgeons and medical centers as areas the company has built alongside the interface itself.
Bill Ackman, whose newly established Ackman Oxman Institute co-led the round, framed the investment around the broader potential of neurotechnology in treatment and rehabilitation. “Precision has the team, technology, and ambition to be a leader in BCI,” he said.
Precision is building the Layer 7 cortical interface, a thin surface array containing 1,024 electrodes. The device sits on top of the cortex without penetrating brain tissue, where multiple arrays can be combined. Precision has demonstrated simultaneous recordings across 4,096 electrodes, alongside real-time decoding of intended movement.
The company has also built a sizeable clinical footprint around temporary use of the interface. Precision now reports more than 100 patient procedures across 18 medical institutions. Those procedures have included demonstrations where patients controlled cursors, navigated smartphones, and played video games using decoded neural activity.
That clinical network is increasingly directed towards commercial pathways. In January, Precision partnered with Medtronic to integrate Layer 7 with its StealthStation surgical navigation system.
Chief Clinical Officer Jayme Strauss told Neurofounders that working within infrastructure already used across neurosurgical operating rooms could reduce the friction of introducing the technology into hospitals. Precision has also brought electrode manufacturing in-house through its MEMS facility in Texas.
Strauss framed the next challenge around moving BCIs beyond specialist research teams into routine clinical environments. Precision is preparing for an early feasibility study of its fully implantable system, initially targeting people with severe paralysis. Reimbursement is also being developed alongside the technology, with Strauss arguing that clinical adoption depends heavily on hospitals being able to integrate and pay for these systems.
The latest round comes as that commercialization race becomes increasingly capital-intensive. In March, Neurofounders tracked $1.75 billion flowing into 17 BCI companies over 12 months, more than those same companies had raised across all previous years combined.
Large rounds for Neuralink, BrainCo, Merge Labs, Science Corp, and Synchron accounted for most of that capital. Precision’s $250 million Series D now places it firmly within that heavily funded cohort of companies moving deeper into clinical trials and commercialization.
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