Neuracle Closes Series C and D Rounds, with Qiming Venture Partners Leading Series C
China's leading data-driven full-stack brain-computer interface platform company
Recently, Neuracle (Hangzhou Neuracle Brain Science Co., Ltd.), a leading data-driven full-stack brain-computer interface (BCI) platform company in China, announced the completion of two consecutive funding rounds — Series C and Series D — with total financing reaching several hundred million RMB. The Series C round was led by Qiming Venture Partners.
Following this financing, Neuracle will continue investing in commercialization and internationalization: accelerating the regulatory approval and commercial launch of Epilcure™, advancing the clinical translation of next-generation neural interface products such as Vivastep™, and further strengthening its brain science data and algorithm platform. On the international front, the company will pursue FDA and CE registrations and global clinical collaborations, gradually building a product and clinical partnership system for international markets through its dual-center footprint in Hangzhou and Singapore. For Neuracle, the core objective for the next phase has shifted from proving technical feasibility to demonstrating product value, expanding clinical applications, and building commercial capabilities.
Brain-computer interfaces represent a hard-tech frontier integrating materials, chips, AI algorithms, neuroscience, and precision engineering, with exceptionally high technical barriers. Industry consensus holds that as policy support, clinical demand, AI algorithms, implantable hardware, and precision manufacturing capabilities mature, the competitive focus in the BCI industry is shifting from single-point technical breakthroughs toward platform capabilities that can be reused across disciplines, products, and scenarios. This funding round sends a clear signal: BCI is moving from frontier technology exploration into a new phase of parallel clinical validation and industrialization.
Founded in 2020 and headquartered in Hangzhou with an international center in Singapore, Neuracle operates under the vision "Brain to Beyond," focusing on precision diagnosis and treatment of brain diseases, closed-loop neuromodulation, and brain health management — making it a representative company at this industry inflection point.
01/ Core Products Delivering Results: From Technical Innovation to Clinical Application
Neuracle's LaserRO™ MRI-monitored semiconductor laser therapy system has obtained Class III medical device registration in China, completing the full journey from innovation pathway review, clinical validation, to regulatory approval. The system enables precise laser ablation of intracranial lesions through preoperative imaging planning, stereotactic implantation, and real-time MRI thermography monitoring, offering a minimally invasive treatment option for drug-resistant epilepsy and brain lesions. Its dual-wavelength laser, real-time temperature monitoring, and preoperative planning technologies further enhance the precision and controllability of ablation therapy.
The company's S-Deep™ intracranial depth electrode (SEEG) has also obtained Class III medical device registration in China, for intracranial EEG signal acquisition and precise epilepsy localization, and serves as a critical neural interface for implantable BCI systems. This creates product synergy between neural signal acquisition, precise localization, and neuromodulation for Neuracle, laying groundwork for subsequent clinical applications of closed-loop BCI products.
Neuracle's Epilcure™ implantable BCI neurostimulation system targets drug-resistant focal epilepsy. Through implanted electrodes that continuously monitor intracranial brain activity, it automatically initiates responsive stimulation upon detecting abnormal signals, achieving closed-loop neuromodulation based on brain-state sensing. The product entered China's Innovation Pathway review process in 2022, completed enrollment of 110 confirmatory clinical trial patients in 2025, and has accumulated over 120 clinical implants to date. Unlike traditional open-loop neurostimulation, Epilcure™ integrates brain-state sensing, abnormal signal detection, and stimulation intervention in a single system, advancing neuromodulation from fixed-parameter stimulation toward individualized, responsive therapy. The company continues accumulating long-term intracranial EEG data to support patient assessment, treatment optimization, and product iteration.
02/ Clinical Progress Expanding: From BCI to Motor Function Restoration
Building on closed-loop neuromodulation, Neuracle has extended its technology into motor function restoration. The Vivastep™ closed-loop spinal cord neural interface system targets spinal cord injury and paralysis patients, integrating epidural spinal cord stimulation, neural signal decoding, and closed-loop adaptive regulation. Through a coordinated mechanism of "neural signal sensing — stimulation modulation — motor training," it helps patients regain standing and walking abilities.
In 2025, the company completed China's first closed-loop spinal neural interface implantation, with the patient recovering independent standing and walking within two months post-surgery. In 2026, it completed its first overseas paraplegic patient implantation, marking an important step in internationalization. The program has now completed nearly 20 clinical implants.
03/ From Single Products to Platform Synergy: Building a "Trinity" Technical System
Neuracle's core competitiveness extends beyond individual products. The company has established a "trinity" deeply integrated technical system of "intelligent hardware + multimodal data + AI large models," forming full-chain R&D capabilities covering intelligent hardware, underlying algorithms, system platforms, and clinical applications.
All products in the intelligent hardware layer derive from two self-developed technical platforms: STEMII™, the precision neurosurgery technology platform, focuses on precision neurosurgical intervention covering preoperative planning, stereotaxy, neural interface implantation, precise localization, and minimally invasive treatment — providing underlying technical support for products such as S-Deep™ and LaserRO™; BCMod™, the BCI neuromodulation platform, focuses on neural signal sensing, signal processing, intelligent decoding, and closed-loop neuromodulation, supporting the continued R&D and clinical translation of implantable neural interface products including Epilcure™ and Vivastep™.
At the multimodal data and AI large model level, the convergence of BCI and AI is giving rise to an emerging data asset: intracranial neural signal data. This data comes directly from inside the brain, with signal-to-noise ratios far exceeding scalp EEG, and accumulates continuously through long-term implantation, capturing complete dynamic processes before and after neural state changes. Leveraging multimodal data accumulation, Neuracle has integrated AI model capabilities into neural signal sensing, state recognition, and modulation decision-making, building vertical model capabilities around EEG cloud platforms, neurostimulation parameter optimization, and personalized treatment recommendation — enabling products to evolve from "signal acquisition" toward "signal understanding, signal response, and continuous optimization based on feedback." Implantable closed-loop BCI products like Epilcure™, as clinical data accumulates, will see iterative optimization of algorithm models and stimulation strategies, making products "smarter with use" and continuously increasing commercial value post-deployment.
This "neural interface — data — AI model — closed-loop modulation" technical path enables Neuracle to support different diseases and neuromodulation scenarios through unified technical foundations, establishing a base for sustained product development and technical reuse. Furthermore, as brain science data and AI model capabilities mature, application boundaries can expand to non-medical scenarios such as brain health management and brain-machine intelligent interaction, opening broader application space for BCI technology.
04/ Regulatory, Clinical, and Industrialization Capabilities Built in Parallel
For invasive BCI, technical breakthrough is only the starting point of industrialization. Products truly entering clinical use require the combined support of long-term clinical validation, regulatory approval, manufacturing systems, hospital access, and commercialization capabilities.
Neuracle has currently obtained four Class III medical device registrations in China, three of which are innovation pathway registrations, with products covering key links including EEG acquisition, precise localization, and minimally invasive treatment. On the clinical side, the company has established clinical collaboration networks with over 50 top-tier tertiary hospitals nationwide, continuously conducting multicenter clinical research and product application. The company has filed over 400 intellectual property applications with more than 190 granted patents, and continues strengthening neural interface, algorithm, and clinical translation capabilities through innovation platforms including the Zhejiang Provincial Engineering Research Center for Clinical Brain-Computer Interfaces and the Zhejiang Provincial Key Laboratory of Pain Perception and Neuromodulation.
As core products progressively enter registration and market launch phases, the company has completed team building for medical affairs, clinical support, market access, and commercialization, fully advancing products from R&D toward hospital application.
Dr. Peng Cao, Founder, Chairman and CEO of Neuracle, stated: "In recent years, major breakthroughs in the BCI field have primarily come from technical and clinical innovation. As more products enter registration and clinical translation, industry competition is gradually shifting from single-point technical breakthroughs toward comprehensive competition encompassing product registration, long-term clinical validation, and industrialization capabilities. What Neuracle aims to build is not a single BCI product, but a technology and product system for major neurological diseases. Going forward, we will continue investing in core product registration and launch, clinical application, and commercialization, while advancing next-generation neural interface product development and internationalization, enabling truly original Chinese neurotechnology to enter more hospitals and patient treatment scenarios."
Zhang Ao, Partner at Qiming Venture Partners, stated: "Invasive BCI is a frontier field of multidisciplinary convergence, and the industry is at a critical inflection point moving from technology exploration toward clinical translation and industrialization. Neuracle has built a 'hardware — data — AI' trinity full-stack platform capability, accumulated solid clinical data, and achieved coordinated advancement of technology, products, registration, and clinical development. We continue to see tremendous clinical demand in neuromodulation and expect Neuracle to accelerate commercialization of core products, advance overseas registration and global clinical collaboration, and enable original Chinese BCI technology to serve patients at home and abroad."
The Series C round was led by Qiming Venture Partners, with existing shareholders Yuhang State Investment and Chunde Capital continuing their investment, and follow-on investment from Tailong Investment, Puyao Xinye, Jianyuan Xizheng, Lingang Lanwan Fund, Yufu Gaozhi Fund, and Hehe Venture Capital. The Series D round saw participation from multiple institutions including Sai Zhi Bole, Kuanqiao Hengsong, and Ningbo state-owned capital.
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Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since inception, Qiming Venture Partners has focused on investing in outstanding early and growth-stage companies in Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have listed on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. More than 80 portfolio companies have become recognized unicorns or super-unicorns.
Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), Hesai Technology (NASDAQ:HSAI, 02525.HK), UBTECH (09880.HK), WeRide (NASDAQ:WRD, 00800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu (02513.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ:ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ:SDGR), APT Medical (688617.SH), Sanyou Medical (688085.SH), AmoyDx (300685.SZ), Sinocelltech (688520.SH), Insilico Medicine (03696.HK), AusperBio, Yuanxin Technology, MediLink Therapeutics, Leads Biolabs, StepFun, and others.