Paradromics, an Austin, TX-based developer of brain-computer interfaces (BCI), raised $33M in funding.
The round was led by Prime Movers Lab. Additional investors included Westcott Investment Group, Dolby Family Ventures, and Green Sands Equity.
The company intends to use the funds to help the launch of its first-in-human clinical trial for the Connexus Direct Data Interface (DDI).
Led by CEO Matt Angle, Paradromics is bringing to market a brain-computer interface (BCI). The first application of the Connexus DDI is an assistive communication device that translates brain signals into speech and movement in real time, restoring social connection and enabling independent engagement with technology in severely motor-impaired people with conditions like ALS, spinal cord injury, and stroke.
In addition to the funding, the company announced that the U.S. Food and Drug Administration has granted the Connexus DDI “Breakthrough Device Designation”, which offers an expedited review process for transformative medical devices with the potential to treat irreversibly debilitating conditions.
FinSMEs
18/05/2023