Nexstem Raises $3.5 Million to Accelerate Development of BCI Solutions, Disrupting the Neurotech Sector

• ByStartupStory     |    November 8, 2024

Nexstem, a Bengaluru-based deep-tech startup, has raised USD 3.5 million in its latest funding round to accelerate the development of its non-invasive brain-computer interface (BCI) solutions. The funding round was backed by prominent investors, including InfoEdge, Zupee, Smile Group, and Gruhas—co-founded by Nikhil Kamath and Abhijeet Pai.

This investment will help Nexstem scale its breakthrough product ecosystem and expand its intellectual property (IP) portfolio, positioning the company to disrupt the rapidly growing neurotech sector. The funding will also support the company’s global expansion efforts, particularly into the American and European markets.

“We believe that BCI would emerge as an extremely transformative technology in the next decade or so and we are very excited to back the Nexstem team in their endeavour in this space. In an industry characterised by lengthy development cycles and substantial investment, Nexstem’s progress has been fast, frugal and exceptional,” said Vibhore Sharma, Tech Investments, InfoEdge.

Nexstem is at the forefront of pioneering BCI technology, which enables direct communication between the human brain and external devices. Once considered a realm of science fiction, this technology is now advancing rapidly, with real-world applications on the horizon. Nexstem’s flagship product suite, Instinct, leverages artificial intelligence-powered onboard compute modules that support the analysis of all kinds of biosignals from the human body, providing a versatile platform for BCI applications.

From restoring lost motor functions to enhancing cognitive capabilities, BCI technology has the potential to redefine human-machine interactions. The investment will allow Nexstem to scale its operations to meet the increasing demand for its customizable BCI products, which aim to break down traditional cost barriers in the industry, particularly by democratizing access to innovations like electroencephalography (EEG).

“Our focus is on harnessing complex biosignal data from the human body, which will help us create better products, and highly customised services and understand humans better than ever. By addressing these challenges, we are opening doors to applications once imagined in sci-fi, such as longevity and telepathy,” said Siddhant Dangi, Co-founder, Nexstem. He added, “Our approach as an early platform player enables us to help others realise impactful use cases in neurotechnology, carefully balancing innovation with practical applications.”

The BCI market is projected for significant growth, with Morgan Stanley’s latest report estimating the market to reach USD 400 billion in the U.S. alone. This creates a significant opportunity for Nexstem to leverage its pioneering technology to tap into a growing market. Over the next three years, the company plans to achieve critical milestones, including the release of the highly anticipated Nexstem Coin, EXG modules, and tACS technology, as well as securing regional and compliance certifications and expanding into defense and consumer markets.

Follow Startup Story