NexStem is a deep-tech startup that provides artificial intelligence-based wearable devices for electrodiagnostic testing. The company raised 3.5 million USD from Zupee and InfoEdge in its new funding. The funding round saw the participation of several new and existing investors including Smile Group, and Gruhas. The startup plans to use these fresh proceeds to enhance its platform, scale its product ecosystem, research, and expand its IP Portfolio.
The startup will mainly focus on deploying biological infrastructure with an advanced brain-computer interface suite. Entrackr reported the development first. The company has raised around 1.34 million USD across two funding rounds since its inception, including $1.2 million raised during its seed funding round in 2022 from Info Edge and BITS Spark.
NexStem offers a platform that develops non-invasive headsets to help electroencephalogram tests measure electrical activity through sensors. The startup offers a wisdom SDK based on artificial intelligence to create end brain-computer interface pipelines to develop multiple use cases of BCIs. The company serves in various sectors including gaming, neuroscience, healthcare, and education. The firm plans to introduce new solutions and increase its efficiency through this funding. This investment round highlights the investor’s trust in NexStem’s market potential and business model.
The Bengaluru-based company develops non-invasive BCI solutions to make BCI technology accessible in several areas. The firm aims to empower researchers, developers, and clinicians to explore new innovative solutions in BCI. This technology allows direct communication between external devices and the human brain.
The firm’s product portfolio includes NexStem Instinct, which is designed as a development kit to help innovators and researchers overcome complexities in refining POC use cases in BCI technology. This end-to-end platform integrates hardware, APIs, SDK, and real-time biosignal algorithms. The company wants to transform the deep tech sector using its innovative solutions and advanced technologies. This fresh capital will be used to enhance the performance capability of the platform and develop more innovative solutions.
The company uses artificial intelligence and advanced technologies to provide the best solutions. The startup claims to have received recognition from industry leaders like Microsoft for startups, VIVA Tech Paris, and others. The development came just after the deep tech sector saw increased investor interest. The company plans to use a portion of this investment to Improve its research and development team. NexStem faces competition from other deep tech startups in this market segment such as Kernel and Cumulus Neuroscience.
Conclusion :
NexStem is an AI-powered deep tech startup that raised 3.5 million USD in its fresh funding round. Info Edge and Zupee co-led the funding round with the participation of Smile Group and Gruhas. The company intends to use this amount to scale up its product development, enhance its research, expand its IP portfolio, and advance its Brain-computer Interface technology.
The startup previously secured $140k in its seed funding round from BITS Spark, HostelFund, and others. The Bengaluru-based startup aims to provide non-invasive BCI solutions to empower researchers and developers. The funding round came just after the company saw increased interest from investors.
Read the full article here
