Axoft Bags $55M Series A Funding to Advance Clinical Trials Globally for its Implantable Brain-Computer Interface

Alumni Ventures, the Stanford President’s Venture Fund, Hillhouse Investment and Gaorong Ventures also participated in the round. With more than $60 million in total funding raised,

Headquartered in Cambridge, Massachusetts, Axoft, a neurotechnology company, has raised an oversubscribed $55 million Series A led by C.P. Group Innovation.

Alumni Ventures, the Stanford President’s Venture Fund, Hillhouse Investment and Gaorong Ventures also participated in the round.

The fresh infusion of funds will be utilised to expand its current clinical trials globally and progress U.S. regulatory approval of its implantable Brain-Computer Interfaces (iBCIs), which have already demonstrated the ability to safely decode brain signals.

Axoft will also use the capital to build a good manufacturing practice (GMP) facility to mass produce its iBCIs.

“At Axoft, the neural data quality we unlock doesn't just make iBCIs more effective, it opens the door to minimally invasive surgery, allows access to deeper brain regions and enables the next generation of AI-driven real-time decoding. Better neural signals are the foundation everything else is built on,” said Dr. Paul Le Floch, co-founder and CEO of Axoft.

“This new funding and strategic support from C.P. Group Innovation allows us to expand our work into global markets. With multiple in-human clinical studies underway, and several industrial and academic organizations already using Fleuron for their own research and development, Axoft is well-positioned to unlock new treatments for patients suffering from neurological disorders, while also benefitting the broader biomedical engineering community by making our novel material platform widely available.”

The company’s iBCIs are made using its proprietary Fleuron material, which enables high-quality neural data capture over longer periods of time due to the material’s superior biocompatibility. Fleuron is up to 10,000x softer than the polyimide used in existing iBCIs, and delivers 8x more region access, 32x more sensor/stimulators per thread than standard flexible probes and over 60% less signal attenuation than polyimide.

Notably, the material can be used for a wide range of applications with hardware-biology interfaces, including biohybrid devices, organ-on-a-chip, microfluidics and neural interfaces.

Since announcing its Seed round in 2022, Axoft has made significant progress, including completing first-in-human clinical trials in more than 11 patients worldwide.

Co-founded in 2021 by Dr. Paul Le Floch, Dr. Tianyang Ye and Prof. Jia Liu, Axoft is building implantable Brain-Computer Interfaces (iBCIs) that leverage bio-inspired materials to enable a seamless interface between the brain and electronics, and allow for measurement and stimulation at high-resolution in any brain region.

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