The company specializes in non-invasive, wireless brain-recording tech. And its first round of funding is bigger than Google's and Facebook's first-round investments combined. Here's why.
Imagine the money that could be made by a drug company that accurately predicted and treated the onset of Alzheimer's before any symptoms surfaced. That may give us an idea why NeuroVigil, a company specializing in non-invasive, wireless brain-recording tech, just got a cash injection that puts it at a valuation "twice the combined seed valuations of Google's and Facebook's first rounds," according to a company announcement.
Facebook's Series A funding in May 2005 was at $12.7 million, valuing the firm at $98 million. Some figure put the series Series A funding of Google, on a $25 million co-investment from Sequoia and Kleiner Perkins, at $75 million in late 1999. Add those valuations. Double 'em, and it would seem NeuroVigil got tens of millions in early cash, enough for a valuation of roughly $250 million.
Most of it came from one moneybags, an "anonymous American industrialist and technology visionary," NeuroVigil says. There were other participants dotted across the U.S. Bill Gates, who's loaded and philanthropic, and Steve Jobs, who's loaded and focused on health (his own, especially), may have an interest in investing in clever medical technology.
NeuroVigil describes itself as a neurotechnology company centered on a "fundamentally new way to assess brain activity, non-invasively, and rapidly, using a single channel of electroencephalogram."
Read More: http://www.fastcompany.com/1751276/neurovigil-gets-incredibly-huge-cash-injection-to-read-your-mind
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