October 14, 2024

Startup Neuranics secures USD 2.3 Million Investment from Par Equity

Left to right are Kia Nazarpour (CSO), Hadi Heidari (CTO), and Noel McKenna (CEO) of Neuranics (Photo Business Wire)
Left to right are Kia Nazarpour (CSO), Hadi Heidari (CTO), and Noel McKenna (CEO) of Neuranics (Photo Business Wire)

Sensor specialist startup Neuranics has secured a $2.3 million investment led by Par Equity. GU Holdings, the investment company for the University of Glasgow, Old College Capital, the University of Edinburgh’s venture investment fund, and London-based Creator Fund, which backs scientific founding teams, also participated in the pre-seed round.

Founded in 2021 as a joint spinout of the University of Glasgow and the University of Edinburgh, Neuranics develops pioneering magnetic sensors integrated with semiconductor technology for health, fitness, and metaverse applications. Neuranics’s patented technology uses scalable spintronics sensors powered by semiconductors to detect tiny magnetic signals from organs in the body – for example, the heart and muscles of the arms, which the company says could transform the current shortcomings of health monitoring devices and human-machine interfaces.

The company’s magnetocardiography (MCG) sensors are easier to use than traditional electrocardiography (ECG) sensors. In a human-machine interface application, the magnetomyography (MMG) sensing system can estimate single-finger movements by detecting the magnetic activity of the forearm muscles. These sensors improve the latency issues when used to control a robotic hand or interact with virtual objects in the metaverse.

Neuranics’s chip-scale sensors are low-cost, scalable, low-power, and operate at room temperature, as opposed to the current method of measuring magnetic signals which are characterized by large, complex, expensive, lab or clinic-based equipment.

CEO Noel McKenna said: “Our breakthrough technology will enable much better sensor resolution for human-machine interface, will have huge benefits for health and fitness devices, and also controllers in the metaverse. We see global demand for our technology, and we are already working with several Tier 1 consumer electronics groups. We want to be the world’s leading magnetic sensor company, selling our sensor chips or licensing our technology into hundreds of millions of products per annum.”

Robert Higginson, Partner, Par Equity said: “Rarely do we discover both a transformational technology and such a well-rounded team, with whom we can partner over the long-term to create a company capable of radically improving a broad range of use cases in a number of industry verticals. Neuranics’s patented technologies complement many other technologies developed by our portfolio companies and are a good example of Par Equity’s tough tech focus.”

Source

For similar data, please visit

Canada Growth Fund invests USD 100 Mln in Svante to accelerate Growth

Sila raises USD 375 Mln to deliver Titan Silicon for Auto Series Production

Neural Concept raises USD 27 mln Series B to further accelerate global growth

(Visited 51 times, 1 visits today)

Share:

Facebook
Twitter
WhatsApp
LinkedIn

 

Comments are closed.

Social Media

Most Popular

LRMF missile
Aerojet Rocketdyne joins Lockheed Martin to develop LRMF missile
Maria Jackson
BOURNEWOOD HEALTH SYSTEMS onboards Maria Jackson as CEO
Tahini located in the vibrant One Central.
GRIT Hospitality launches Tahini in Dubai
3D-Systems-EXT-1070-Titan-Pellet-printer
3D Systems and SWANY partnership to promote large-format pellet extrusion 3D printing

Related Posts