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$8M Raised: The Funding Boost Behind Revolutionary Touchless Tech

Neuranics, a Scottish semiconductor company, has successfully raised $8 million in seed funding. This round was led by Blackfinch Ventures and included investments from various entities such as Archangels, Old College Capital, and universities. The company specializes in ultra-sensitive, low-power magnetic sensing technology that can detect minute signals from the human body for applications like gesture recognition and heart monitoring without skin contact. Neuranics plans to use the funds to fuel international growth, enhance commercial adoption, expand their team, and integrate their TMR technology into markets like digital health and wearables. They are also collaborating with top-tier manufacturers to showcase their technology’s potential in industrial, consumer, and healthcare sectors. Prior to this, Neuranics secured $700,000 in seed funding and a $1.03 million grant from Scottish Enterprise for a $3.11 million project focused on magnetomyography and machine learning for XR applications. In 2023, they received a $2.3 million investment and launched a magnetic sensor development kit for continuous heart monitoring via Bluetooth.

Source: www.mobihealthnews.com

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