Bengaluru-based deep-tech startup Nexstem raises $3.5 million led by InfoEdge, others
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Funding Success: Bengaluru-based deeptech startup Nexstem raised $3.5 million in a funding round led by investors including InfoEdge, Zupee, and Nikhil Kamath & Abhijeet Pai’s Gruhas, aimed at scaling its innovative non-invasive Brain-Computer Interface (BCI) solutions.
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Product Development: Founded in 2020, Nexstem’s flagship product, Instinct, utilizes an AI-powered onboard compute module to analyze various human biosignals, enabling direct communication between the brain and external devices.
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Market Expansion: The funding will facilitate Nexstem’s expansion into American and European markets and help democratize BCI technology by reducing associated costs, thereby increasing accessibility to neurotechnology innovations.
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Future Innovations: Nexstem plans to launch additional products, including the Nexstem Coin and EXG modules, while focusing on obtaining regional certifications and developing distribution networks in both defense and consumer markets.
- Market Potential: With the U.S. BCI market projected to reach $400 billion, investors express confidence in Nexstem’s ability to drive transformative advancements in neurotechnology, reshaping human interaction and capability.
Nexstem, a Bengaluru-based deeptech startup developing cutting-edge non-invasive Brain Computer Interface (BCI) solutions, recently raised $3.5 million in a latest funding round.
The funding was led by prominent investors, such as InfoEdge, Zupee, Smile Group and Nikhil Kamath & Abhijeet Pai’s Gruhas.
The startup plans to use the raised capital to scale its latest product ecosystem and expand its IP portfolio, leading to disruption in the neurotech sector.
What does Nexstem do?
Founded in 2020 by Siddhant Dangi and Deepansh, Nexstem’s breakthrough product suite for BCI – Instinct leverages a unique AI-powered onboard compute module that supports analysis for all kinds of biosignals from the human body.
According to the startup, BCI technology essentially enables direct communication between the human brain and external devices, a field once confined to science fiction but now rapidly advancing toward real-world applications.
From restoring lost motor functions to augmenting cognitive capabilities, BCI has the potential to redefine human-machine interactions in ways previously thought impossible, the release notes.
Scaling operations to meet growing demand
The latest investment will enable Nexstem to scale its operations to meet growing demand and deliver its highly customisable product line.
By breaking down the cost barriers traditionally associated with BCI technology, the startup democratises access to innovations such as EEG (electroencephalography). The funds will also support global expansion, particularly into American and European markets, it said.
“With this funding, we are excited to advance the deployment of our BCI ecosystem, which we believe will redefine how technology can address real-world challenges across diverse sectors,” said Dangi.
“Our focus is on harnessing complex biosignal data from the human body, which will help us create better products, and highly customised services and understand humans better than ever. By addressing these challenges, we are opening doors to applications once imagined in sci-fi, such as longevity and telepathy. Our approach as an early platform player enables us to help others realise impactful use cases in neurotechnology, carefully balancing innovation with practical applications,” he added.
Nexstem highlights BCI’s Market potential
The brain-computer interface (BCI) market is set for impressive growth, with Morgan Stanley’s recent report valuing the U.S. market at $400 billion.
Over the next three years, Nexstem plans to launch the highly anticipated Nexstem Coin, EXG modules, and tACS technology, which will complement its current product and IP lineup.
Notably, the deeptech startup is also focused on obtaining regional and compliance certifications and expanding into both defense and consumer markets through a strong distribution network.
Investors comment
Vibhore Sharma, Tech Investments, InfoEdge, said, “We believe that BCI would emerge as an extremely transformative technology in the next decade or so and we are very excited to back the Nexstem team in their endeavour in this space. In an industry characterised by lengthy development cycles and substantial investment, Nexstem’s progress has been fast, frugal and exceptional.”
Abhijeet Pai, Co-Founder, Gruhas, added, “At Gruhas, we are committed to backing innovative technologies that redefine the way we interact with and understand the world. Nexstem’s advancements in BCI are at the frontier of what’s possible in neurotechnology, with the potential to unlock new dimensions of human capability. We are thrilled to support Nexstem’s journey as it expands its ecosystem and makes cutting-edge neurotech accessible to diverse industries.”
Here’s a structured list based on the information provided:
Startup
- Name: Nexstem
- Location: Bengaluru, India
- Founded: 2020
- Founders:
- Siddhant Dangi
- Deepansh
Funding Details
- Latest Fundraise Amount: $3.5 million
- Funding Series: Not specified (but referred to as the latest funding round)
Investors
- Leading Investors:
- InfoEdge
- Zupee
- Smile Group
- Nikhil Kamath (Co-Founder, Zerodha)
- Abhijeet Pai (Co-Founder, Gruhas)
Purpose of Funding
- Scale the latest product ecosystem
- Expand IP portfolio
- Global expansion, particularly into American and European markets
- Development of products such as Nexstem Coin, EXG modules, and tACS technology
Market Potential
- The U.S. BCI market is valued at $400 billion according to a Morgan Stanley report.
- Focus on reaching both defense and consumer markets.
Investor Commentary
- Vibhore Sharma, Tech Investments, InfoEdge: "BCI would emerge as an extremely transformative technology in the next decade."
- Abhijeet Pai, Co-Founder, Gruhas: "Nexstem’s advancements in BCI are at the frontier of what’s possible in neurotechnology."
This organized list covers all the key details regarding Nexstem, its funding, investors, and the market potential based on the initial text provided.