Saudi Aramco VC arm invests in China’s NeuraMatrix

The financing will allow the company to increase its research and development, speed its chip production and develop hardware and software for mass production in medical applications

  
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose

REUTERS/Maxim Shemetov
RIYADH: China’s brain-computer interface platform, NeuraMatrix, has closed $15.6 million Series A financing round led by Huagai Capital and Prosperity7 Ventures, the diversified growth fund of Aramco Ventures.

The financing will allow the company to increase its research and development, speed its chip production and develop hardware and software for mass production in medical applications.

“The brain-machine interface is a powerful technology platform for brain science research, which can also improve the current state of central nervous system diseases,” said Di Liu, Huagai Capital’s vice president.

“We are very optimistic about the company’s deep cultivation of hardware technology, and its leading position in technology transformation and product landing in scientific research and industrial areas,” Liu added.

NeuraMatrix, founded in 2019, plans to build a matrix of BCI applications and continue developing core materials, chips, terminals and software tools, to serve various future use cases.

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