New York-based brain-computer interface company Precision Neuroscience Corporation closed $41 million in Series B funding, bringing the company’s total raised to $53 million.
FoRepont Capital Partners led the round with participation from Alumni Ventures, Draper Associates, Mubadala Capital and Re.Mind Capital. Existing investors Steadview Capital and B Capital Group also contributed.
Precision will use the funding to expand its team and pursue product development. The company plans to seek an FDA regulatory review in the coming months.
“We envision a world where devastating neurological conditions – stroke, traumatic brain injury, dementia – are finally treatable,” Michael Mager, CEO of Precision Neuroscience, said in a statement. “To reach this world, brain-computer interface technology needs to progress out of the lab and into the clinic. Precision is excited to take on that challenge.”
Atomic AI, a biotech company focusing on tech-enabled drug discovery, launched with a $35 million Series A round led by Playground Global, bringing the company’s total raised to $42 million.
Factory HQ, 8VC, Greylock, AME Cloud Ventures, NotBoring and angel investors – including former GitHub CEO Nat Friedman, Curai CEO Neil Khosla Doug Mohr and UC Berkeley professor and Arc Institute co-founder Patrick Hsu – also participated in the round.
The company aims to create RNA-targeted molecules and RNA-based drugs and devices using machine learning Model based on RNA structural datasets and large-scale in-house experimental wet-lab biology.
“To create small molecules that are effective and safe against uncontrolled diseases, there is a critical need to develop tools that can accurately predict 3D RNA structures,” Raphael Townshend, Atomic AI’s founder and CEO, said in a statement. “Atomic AI focuses on the cutting edge areas of AI, RNA and structural biology. We are creating an entirely new area of drug discovery.”
San Francisco-based Mighty Health, a lifestyle company offering exercise, nutrition and daily health programs for people 50 and older, raised $7.6 million in funding co-led by Will Ventures and GFT Ventures.
AARP also participated in the round, along with Imad Akhund, CEO of Mercury, a banking company for startups; Baselayer Ventures, a strategic arm of VF Corporation; Hyper, an accelerator program; and Z Venture Capital, the strategic venture arm of messaging app Line. Existing investors also contributed to the round.
The funds will be used to launch several chronic disease programs and expand strategic partnerships.
“We love that the Mighty Health platform addresses the many needs of a multigenerational population with fundamental changes in lifestyle, providing multiple apps and services for older adults,” Isaiah Kasiwenski, cofounder and managing partner of Will Ventures, said in a statement. Eliminates the need to use coach.” Statement.
Lithuania-based Oxipit, which provides AI-enabled medical imaging equipment, raised $4.9 million in funding led by Taiwania Capital, Coinvest Capital and Practica Capital, with participation from angel investors.
The company’s ChestLink application generates reports for patient X-ray studies showing no abnormalities. Oxipit also offers a virtual radiologist assistant called Oxipit Quality, which compares radiology reports and diagnostic images to determine whether the report has missed something.
The company will use the funding to further develop its AI-based applications and expand market reach to new geographies, with a focus on the UK market.
MedCrypt, a cybersecurity provider for medical device manufacturers, increased its Series B funding round after receiving additional funding from Dexcom Ventures, bringing the company’s total raised to $36.4 million.
The expansion comes after the company received $25 million in Series B funding in November, bringing the company’s total raised to $34.4 million at the time.
Additional funds raised from the expansion will be used to grow MedCrypt’s engineering team.