Brain-machine firm gets major investment

StairMed, a Shanghai-based medical technology company, announced on Monday that it has raised 350 million yuan ($48 million) in Series B funding, marking the largest investment to date in China's implantable brain-machine interface industry.

The funds will be used to accelerate clinical trials, advance research and development of next-generation technologies and build a medical-grade microelectromechanical systems production facility to support commercialization efforts, the company said.

Founded in 2021, StairMed focuses on minimally invasive implantable brain-machine interface technology. Its founder, Zhao Zhengtuo, said the company's anticipated products could enable patients with conditions such as paralysis and aphasia to control mobile phones and computers using only their minds.