Monday, June 11, 2018

Paradromics Picks Up $7M For Brain-Machine Interfaces

San Jose-based Paradromics, a startup developing brain-machine interfaces that the company says can provide "high-volume bidirectional data streaming capabilities between brains and computers", has raised $7M in a seed funding, the company said this morning. According to the company, the funding was led by Arkitekt Ventures and Synergy Ventures, and also included It-Farm, Dolby Ventures, Alpha Edison, Loup Ventures, and existing investor, Fusion Fund. Paradronics said the new funding comes on top of an existing, $18M in research funding the company has received from the Defense Advances Research Projects Agency (DARPA). The company is initially targeting its technology at helping physically disabled patients reconnect with the outside world, but says there are "infinite possibilities" beyond that market.