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Mind-computer interface firm Precision Neuroscience scores $41M and extra digital well being fundings


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New York-based brain-computer interface firm Precision Neuroscience Company closed $41 million in Collection B funding, bringing the corporate’s complete increase to $53 million.

Forepont Capital Companions led the spherical with participation from Alumni Ventures, Draper Associates, Mubadala Capital and re.Thoughts Capital. Present traders Steadview Capital and B Capital Group additionally contributed.

Precision will use the funds to broaden its group and additional product improvement. The corporate plans to hunt FDA regulatory evaluation within the coming months.

“We think about a world the place devastating neurological circumstances — stroke, traumatic mind damage, dementia — are lastly treatable,” Michael Mager, CEO of Precision Neuroscience, mentioned in a press release. “To achieve this world, mind–laptop interface expertise must progress out of the lab and into the clinic. Precision is worked up to tackle that problem.”

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Atomic AI, a biotech firm specializing in tech-enabled drug discovery, launched with a $35 million Collection A spherical led by Playground World, bringing the corporate’s complete increase to $42 million.

Manufacturing facility HQ, 8VC, Greylock, AME Cloud Ventures, NotBoring and angel traders — together with GitHub’s former CEO Nat Friedman, Curai’s CEO Neal Khosla Doug Mohr and UC Berkeley professor and Arc Institute cofounder Patrick Hsu — additionally participated within the spherical. 

The corporate goals to create RNA-targeted molecules and RNA-based medicines and instruments utilizing machine studying fashions primarily based on RNA structural datasets and large-scale in-house experimental wet-lab biology. 

“To create efficient and safer small molecules in opposition to undruggable ailments, there’s a vital must develop instruments that may precisely predict 3D RNA buildings,” Raphael Townshend, founder and CEO of Atomic AI, mentioned in a press release. “Atomic AI is oriented on the chopping fringe of AI, RNA, and structural biology. We’re creating a completely new area of drug discovery.”

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San Francisco-based Mighty Well being, a life-style firm providing train, vitamin and every day well being applications for folks ages 50 and older, scored $7.6 million in financing co-led by Will Ventures and GFT Ventures. 

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AARP additionally participated within the spherical alongside Immad Akhund, CEO of Mercury, a banking firm for startups; Baselayer Ventures, a strategic arm of VF Company; Hyper, an accelerator program; and Z Enterprise Capital, the strategic enterprise arm of messaging app LINE. Present traders additionally contributed to the spherical. 

The funding will likely be used to launch a number of power illness applications and broaden strategic partnerships. 

“We love that the Mighty Well being platform addresses a number of wants of a polychronic inhabitants without delay with foundational way of life change, eliminating the necessity for older adults to make use of a number of apps and coaches,” Isaiah Kacyvenski, cofounder and managing companion at Will Ventures, mentioned in a press release. 

Lithuania-based Oxipit, which affords AI-enabled medical imaging instruments, garnered $4.9 million in funding led by Taiwania Capital, Coinvest Capital and Practica Capital, with participation from angel traders. 

The corporate’s ChestLink utility produces reviews for affected person X-ray research displaying no abnormalities. Oxipit additionally affords a digital radiologist assistant dubbed Oxipit High quality, which compares radiology reviews and diagnostic photographs to find out if something was missed within the report.

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The corporate will use the funds to develop its AI-based functions additional and broaden market entry in new geographic areas, specializing in the UK market.

MedCrypt, a cybersecurity supplier for medical system producers, prolonged their Collection B funding spherical following its receipt of extra funds from Dexcom Ventures, bringing the corporate’s complete increase to $36.4 million. 

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The extension comes after the corporate obtained $25 million in Collection B funding in November, which introduced the corporate’s complete increase at the moment to $34.4 million. 

The extra funds from the extension will likely be used to develop MedCrypt’s engineering group.


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