Brain.space, the maker of an EEG helmet, announced an $11 million Series A funding round led by Toyota Ventures, with participation by Mangrove Capital Partners and The Group Ventures.
The company also received a $3.5 million non-dilutive grant from the Israel Innovation Authority.
WHAT IT DOES
Brain.space’s EEG database allows brain activity to be more easily shared with researchers, physicians and pharma companies to study brain abnormalities and diseases.
Brain.space created its Brain-Data-as-a-Service Ecosystem that uses standardized brain data to develop large mental models (LMMs) that understand and predict human behavior.
According to the company, LMMs integrate human behavior and machine learning to quantify cognitive and emotional states.
High-quality, high-resolution brain data is then collected by a non-invasive Brain Sensei headset.
The headset’s 115 EEG sensors capture a holistic combination of mental and physiological data and support the development of products and services with increased precision.
The company’s proprietary Brain GPS technology maps signals to vital functional areas of the brain, records, standardizes and automatically labels brain data for storage and ease of access on a brain cloud.
The company will use the funds to advance its strategy of using standardized brain data to develop LMMs that combine human intelligence with machine learning. It will also produce tailor-made tools aimed at instilling the human element into digital systems.
“The Series A funds raised will enhance brain.space’s development of the Brain-Data-as-a-Service Ecosystem, including expansion of our platform’s extensive brain database, to design adaptive and intuitive mental models that address each patient’s mental health condition,” Yair Levy, cofounder and CEO of brain.space, told MobiHealthNews.
“It is critical to achieve an objective understanding of the patient’s cognitive and emotional states and tailor the right remedy for their specific condition. We accomplish this by utilizing our rich and diverse source of standardized brain data to draw a mental map for each individual and empower the physician to provide the most effective, personalized treatment.”
MARKET SNAPSHOT
In 2022, brain.space emerged from stealth with $8.5 million and a plan to measure the neurological activity of three astronauts aboard the International Space Station to assess the effects of spaceflight on the brain. Each astronaut participated in experiments before, during and after the mission.
Other companies in this space include the National University of Singapore. In January, researchers there developed an analytical tool that offers a new approach to analyzing brain activity.
The Brain-JEPA (Joint-Embedding Predictive Architecture) model identifies brain regions and how they function individually and dynamically with other areas. Additionally, it breaks down complex patterns of brain activity into smaller pieces to be analyzed more efficiently.
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