Neurofounders started with a mission to bring clear and comprehensive coverage to the neurotech community. Yet, as a niche publication in a fast moving industry, we cannot cover every development in a detailed article. To still produce a clear overview of the market, we developed the Startup Map, a database containing the most important neurotech startups across six categories: brain-computer interfaces, cognitive/mental health, consumer neurotech, neuroimaging, neuromodulation and tools/infrastructure.We are now introducing the Market Notes newsletter as a complement to that map. This biweekly newsletter tracks the startup map entries and provides the most important updates across categories. We will continue going a layer deeper in our articles, while Market Notes provides the overview needed to stay fully up to date on the booming neurotech industry.
The Oman Investment Authority invested an undisclosed amount in Neuralink as part of a strategy to diversify into future medical technologies. The investment follows BCI capital deployment by Saudi Arabia, Abu Dhabi, and Qatar. Sovereign capital from the Gulf is now present across multiple leading BCI companies. This is less a story about any single investment than about a regional strategy forming around the category.
ABILITY received regulatory clearance to begin its first-in-human study of its implantable BCI platform in ALS patients in Europe. The company spun out of the Wyss Center for Bio and Neuroengineering with nearly a decade of institutional development behind it. The clearance marks the first time that technology will be tested directly in patients. ABILITY is targeting speech decoding and motor function restoration as its primary applications.
Neurosoft closed a $7.5M oversubscribed seed round led by Skybound Venture Capital, bringing total funding past $20M. The proceeds will advance the company's soft, stretchable cortical electrode platform, claimed to be up to 1,000x more compliant than other flexible interfaces, and fund early development of a cortical foundation model. Participation by Protocol Labs puts Neurosoft in the same investment portfolio as US BCI leaders including Synchron and Science Corp.
The French startup raised a €20M Series A led by Critical Path Ventures and Bpifrance to fund clinical trials of its focused ultrasound treatment for treatment-resistant depression. SonoMind uses a patient-specific acoustic meta-lens to direct low-intensity ultrasound toward deep brain structures that TMS and tDCS cannot easily reach. Preliminary results from Sainte-Anne Hospital showed more than 60% reduction in symptom severity after five consecutive daily sessions; market authorization is targeted by 2029.
Ampa raised an oversubscribed financing (approximately $17M) led by Morningside Ventures, Trimera Capital, Neta Foundation, Jake Collective, and Tim Ferriss, bringing total funding to more than $35M. The capital will accelerate rollout of its FDA-cleared Ampa One portable TMS system, already deployed across more than 30 states. The system costs $3,000 per month, fits in a car trunk, and can be operated after a few hours of training. Demand has doubled every quarter since launch.
The FDA granted de novo classification to Neurovalens' Modius Spero just two days ago, making it the world's first neuromodulation device authorized to treat symptoms associated with PTSD. The device delivers electrical vestibular system stimulation behind each ear for 30 minutes daily, targeting deep brain regions associated with stress response. Neurovalens now holds FDA authorizations across four indications: insomnia, anxiety, weight management, and PTSD. See the Double Click section below for a closer look.
On May 1, Motif announced a multi-year semiconductor supply partnership with MintNeuro, securing purpose-built low-power neural interface chips for its DOT implant platform. The announcement followed Motif's late-April FDA clearance to begin RESONATE, its first clinical trial for treatment-resistant depression. Locking in a dedicated IC supply arrangement this early suggests the company is building toward pivotal scale. Motif's implant operates under strict power and size constraints that off-the-shelf components are not designed to meet.
NeuraLight and Kariya Pharmaceuticals announced a partnership to bring NeuraLight's eye-tracking biomarker platform into Kariya's Phase II program for KP405, a brain-penetrant GLP-1 agonist being developed for Parkinson's and Alzheimer's disease. For NeuraLight, the partnership places its platform within the measurement layer of the GLP-1/neurodegeneration thesis, where more precise biomarkers are needed to track whether popular peptide therapies are actually reaching and protecting the brain.
Alto presented Phase 2a data for ALTO-207 at the 2026 Society of Biological Psychiatry Annual Meeting, reporting a MADRS effect size of d=1.67 at Week 6 and d=1.1 at Week 8. The Week 6 signal is notably large for treatment-resistant depression, where approved therapies typically land well below d=1.0. Alto's approach uses EEG biomarkers to pre-select patients most likely to respond; ALTO-207 is its lead asset. The larger test is the ongoing Phase 2b trial, with topline data expected in the second half of 2027.
Sychedelic raised $3.5M in a seed round led by TurboStart, Ideabaaz, and Praveek Ventures ahead of a global Kickstarter launch planned for May or June 2026. The company is developing a closed-loop neuromodulation wearable in headphone format combining tDCS, binaural beats, and HRV biofeedback, adapting stimulation in real time based on live biometric data. It has received CDSCO medical device classification in India, a meaningful regulatory signal for a product positioned as a consumer device in most other markets.
Prophetic announced the launch of two consumer-facing ultrasonic neuromodulation devices designed to enhance dreaming: Dual at $449 (shipping Q4 2026) and Phase at $1,299 (shipping Q3 2027). Both pair EEG sensors with targeted focused ultrasound, and the company claims a 100x cost reduction over comparable research-grade ultrasound systems. Backed by BoxGroup and a16z's Scout Fund, the launch is among the first of its kind in the consumer space, though no peer-reviewed efficacy data has been published ahead of ship date.
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