NeuroSky Closes $11.8M Financing Round
Funding enables brainwave sensor innovator to expand manufacturing growth capabilities and support partner needs
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San Jose, CA, June 22, 2010 – NeuroSky, the world’s leader in wearable consumer brainwave technology, announced that it has closed a $11.8 Million Series C round of funding led by Taicom Capital. All previous lead investors participated, including W.R. Hambrecht, bringing the total amount raised to $18.6M since the company’s inception in 2004.
“In this challenging economic environment, we are thrilled to have delivered an increased valuation to our investors and employees. Following the tremendous response to Mattel’s MindFlex, The Star Wars Force Trainer, and in anticipation of our new partnerships with Toshiba and Sega, we need to bolster worldwide capacities for innovation and manufacturing,” stated Stanley Yang, CEO of NeuroSky. “Furthermore, this event will enable us to expand into more sophisticated areas of brain-computer-interface including health care, education, and automotive applications.”
To facilitate its rapid growth process, NeuroSky has also expanded the depth of its board. New and existing outside Board of Directors include:
- Dr Hong-Jen Chang is former Taiwan Deputy Minister of Health and CEO of Taiwan Global Biofund.
- Christopher B. Paisley is former CFO of 3COM and serves as Dean’s Executive Professor of Accounting and Finance at the Leavey School of Business at Santa Clara University.
- Lee Ting is W.R. Hambrecht’s Managing Partner.
- Chris Wei is the President of Taicom Capital.
In the past quarter, NeuroSky technology was seen in the Olympic Village in Vancouver, on CNN’s Wolf Blitzer, in IEEE Spectrum Magazine, and was named one of Gartner’s Cool Vendors of 2010. NeuroSky technology is also being used to help train the US Olympic Archery Team.
About NeuroSky
NeuroSky, Inc. is the leader in BCI (brain-computer interface) technologies for consumer product applications. From its headquarters in San Jose, CA, NeuroSky works with industry partners, developers, and academic and research institutions, to provide innovative brainwave sensor products across a wide range of industries including toys, games, health and automotive. NeuroSky currently distributes the NeuroSky MindSet in the Unites States, European Union, Japan, China and Korea.
Grounded in over 60 years of medical research, NeuroSky’s technology has taken proven medical EEG (electroencephalograph) technology, and evolved it for application to the mass-market by making it more user-friendly and cost effective. Patented innovations include significant advancements in noise reduction, dry-sensor development (rather than requiring a conductive gel), and enabling the wearer to use it outside of a lab without the assistance of a doctor.
For more information, research and white papers, contact
Tansy Brook
NeuroSky, Inc.
(408) 200-6677
tansy@neurosky.com
125 S. Market Street #900
San Jose, CA 95113
http://www.neurosky.com
For all media inquiries, or to schedule an interview, please contact:
Erika Maya
310-454-3080
erika@ballantinespr.com
http://www.ballantinespr.com/
