Neuranics, a Scottish company in deep semiconductors, has obtained 8 million dollars in seed funding for its magnetic detection technology.
Blackfinch Ventures led La Ronde, with the participation of Archangels, Old College Capital, the University of Glasgow, Equity and the Venture Investment Fund of the University of Edinburgh.
What he does
Neuranics offer magnetic detection technology with ultra-sensitive low power that detects tiny human body signals to follow muscle activity for gestures and cardiac signals without touching the skin.
The quantum detection technology of magneticresistance to the magnetization of tunnels (TMR) of the company consists of designs of personalized semiconductors and software and software compatible with AI.
The Neuranics, founded in 2021, are a spin-out of the universities of Glasgow and Edinburgh.
The company will use funds to accelerate its international growth and its commercial adoption of its technology, expand its team and allow the integration of its TMR technology into high -tech markets, such as digital health, extended reality (XR) and portable devices.
The praising it actively collaborates with semiconductor manufacturers and XR level 1 to demonstrate its value and production for production on industrial markets, consumers and health care.
“The Neuranics team has shown us that it can not only detect the finished movements with precision, but do it while consuming low power, which clearly opens a huge number of applications through business and industry. Neuranics have an exciting market for their technology, and we are impatient to work with the team,” said Kimberley Hay, senior sales director at Blackfinch, in a declaration.
Instant of the market
The funding comes less than six months after the neuranics raised $ 700,000 in seed financing in a round led by Point Ventures inflection.
One month before, the company announced that it had obtained a subsidy of £ £ £ $ 1.03 million) from Scottish Enterprise. The grant was aimed at supporting a 2.4 million pounds Sterling project ($ 3.11 million) which uses magnetomyography technology (MMG) and automatic learning to interpret muscle movements using bracelets.
The project initially targeted XR applications, allowing the recognition of gestures and monitoring muscle activity using bracelets for interactions based on natural gestures in immersive environments.
In 2023, the company collected an investment of $ 2.3 million led by Equity and announced the launch of a development kit of magnetic sensors which recorded the magnetic activity of its heart and transfers this information on a smartphone, a tablet or a laptop on Bluetooth for the recording and the 24/7 analysis.