BrainQ Raises $8.8M To Treat Stroke And Spinal Cord Injury With AI
May 16, 2018 | Israeli medtech startup BrainQ, developing AI-powered technology to treat neurodisorders, has announced it has raised $5.3 million in a funding round to cap their total funding to date at $8.8 million. Investors from investors that include Norma Investments, the Tokyo-based fund IT-Farm, and Qure Ventures, Israel “first fund focused on exclusive on digital health” under equity crowdfunding platform OurCrowd, and other strategic angel investors. BrainQ says it will use the funding to further develop its non-invasive simulation device for commercialization in various markets. Funds will also be used to support clinical trials and grow their database. BrainQ is currently developing technology that uses AI algorithms to identify spectral patterns in a patient’s brain waves (known as “electroencephalogram” or “EEG.”) These patterns are then translated into a customized electromagnetic treatment for disabilities that arise from neurodisorders such as stroke and spinal cord injury. The AI-powered technology comes from developing one of the largest known Brain Computer Interface (“BCI”)-based EEG databases for motor tasks. BrainQ was named one of the four companies in the world to transform healthcare with AI last year. It’s currently participating in Google’s Launchpad Studio program in San Francisco. It’s also working with Google’s Israel accelerator. BrainQ is one of the key investments for OurCrowd Qure, a new fund launched in 2016 by OurCrowd – Israel’s first exclusive digital health fund and appearing at the MIXiii-BIOMED 2018 conference tomorrow for the Digital Health, IoT, and Big Data track.