20 Disruptive Neuroscience Companies & Startups (2024)

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The human brain is a perplexing mystery.

Advancements in neuroscience are helping us understand this complex organ and everything associated with it.

In 2023, the global neuroscience industry was valued at an estimated $33.21 billion and is expected to grow to $35.28 billion in 2024.

By 2028, it’s projected to grow to $46.21 billion (CAGR of 7.0%.)

We’ve rounded up 20 neuroscience startups that are accelerating the growth of this space.

1. Blackrock Neurotech

5-year search growth: 2,600%

Search growth status: Regular

Year founded: 2008

Location: Salt Lake City, UT

Funding: $210M (Undisclosed)

What they do: Blackrock Neurotech offers brain-computer interfaces and related clinical solutions. Their technology, called the “NeuroPort Array,” is used in 28 of the 30 BCI implants done worldwide. According to their website, they have tested the longevity of their tech for 6 years in humans and more than a decade in non-human primates.

In April 2024, Blackrock Neurotech raised $200 million from Tether who acquired a majority stake in the company.

2. Flow Neuroscience

5-year search growth: 633%

Search growth status: Exploding 

Year founded: 2016

Location: Malmo, Sweden

Funding: $12.6M (Non-Equity Assistance)

What they do: A healthcare and wellness company, Flow Neuroscience offers medical devices intended to treat depression and other mental disorders. Their “medication-free” treatment involves a wearable device that links to a mobile app. This system can then drive users to engage in activities that can help them cope with depression. According to their website, 81% of their users feel better within the first 3 weeks.

3. Ceribell

5-year search growth: 267%

Search growth status: Exploding

Year founded: 2014

Location: Mountain View, CA

Funding: $220.5M (Series C)

What they do: Ceribell manufactures FDA-approved electroencephalography (EEG) systems. The startup’s goal is to make EEG devices more accessible. Their system has been designed to provide an instant diagnosis of brain disorders without requiring a specialist. In 2017, Ceribell’s EEG system won The Good Design Award.

4. BioSerenity

5-year search growth: 140%

Search growth status: Peaked

Year founded: 2014

Location: Paris, France

Funding: $119.9M (Undisclosed)

What they do: A medtech startup focused on neuroscience, BioSerenity manufactures wearable devices. One of those devices is an EEG system that’s capable of acquiring physiological signals. BioSerenity’s goal is to use the data collected using their device to accelerate epilepsy research. Their global team consists of 500+ employees who are scattered across 3 continents.

5. Verge Genomics

5-year search growth: 0%

Search growth status: Regular

Year founded: 2015

Location: San Francisco, CA

Funding: $134.1M (Series B)

What they do: A biotech and life sciences startup, Verge Genomics uses artificial intelligence and machine learning to aid in drug discovery for neurodegenerative diseases. Specifically, their tech uses computational genomics to discover novel gene targets that can potentially result in successful drug discovery. Verge Genomics partners with over 25 organizations, including universities, institutes, tissue banks, and pharma companies.

6. Hippoc

5-year search growth: 1,100%

Search growth status: Regular

Year founded: 2019

Location: Montreal, Canada

Funding: $3M (Seed)

What they do: Hippoc is a Montreal-based startup that has developed a digital marketing platform using neuroscience and AI to optimize advertising creatives. The company’s platform can predict the cognitive impact of an ad before it appears online, helping marketers evaluate the effectiveness of their content. The Hippoc AI model mimics human brain behavior to eliminate the need for costly A/B testing campaigns. In February 2023, the startup raised $3 million in seed funding to expand its business. 

7. BrainCo

5-year search growth: -14%

Search growth status: Peaked

Year founded: 2015

Location: Somerville, MA

Funding: $6M (Seed)

What they do: A neurotechnology startup, BrainCo specializes in brain-machine interface technology. They have several brands of neurotech-focused mental state training and prosthetics. One of them is a wearable device designed to reduce stress with neurofeedback. In 2019, BrainCo won the Brave Awards for the “Best AI Application in Health and Fitness.”

8. Earable

5-year search growth: 2,800%

Search growth status: Regular

Year founded: 2018

Location: Boulder, Colorado

Funding: $8.7M (Convertible Note)

What they do: Earable is a wearable device designed to monitor and track a user’s health metrics through the ear. The device can measure core body temperature, heart rate, respiratory rate, and other biometric data to help detect early signs of illness or stress. The accompanying app provides users with personalized insights and actionable recommendations to improve their overall health and well-being.

9. Brain.fm

5-year search growth: 54%

Search growth status: Regular

Year founded: 2015

Location: Brooklyn, NY

Funding: Undisclosed (Seed)

What they do: Brain.fm is a neuroscience-backed company that specializes in creating music and soundscapes for improving focus, relaxation, and sleep. The company utilizes artificial intelligence and machine learning to create personalized soundscapes for each user, catering to their individual needs. Brain.fm has been recognized for its innovative approach to sound therapy and has received numerous accolades, including being named as one of Time Magazine’s Best Inventions of 2018.

10. Neurable

5-year search growth: -15%

Search growth status: Peaked

Year founded: 2015

Location: Cambridge, MA

Funding: $9.8M (Series A)

What they do: Originally a VR-focused startup, Neurable creates brain-computer interface headphones designed to understand human emotions. They work by converting electrical signals produced in the brain into insights with machine learning. With that data, users can potentially optimize their day-to-day activities and avoid burnout. In 2019, Neurable raised $6 million in Series A funding led by M Ventures, with participation from Point Judith Capital and Loup Ventures.

11. MicroTransponder

5-year search growth: 600%

Search growth status: Peaked

Year founded: 2007

Location: Dallas, TX

Funding: $115.1M (Series E)

What they do: MicroTransponder develops and sells neurostimulation devices and therapies to treat neurological conditions. Their therapeutic solutions can potentially offer relief against issues like chronic pain, limb mobility, and more. It’s estimated that MicroTransponder earns up to $25M in annual revenue.

12. Neuralink

5-year search growth: 775%

Search growth status: Exploding

Year founded: 2016

Location: Fremont, CA

Funding: $643M (Undisclosed)

What they do: Neuralink specializes in building brain-computer interfaces (BCI). Their main product, called the “Link,” is designed to help people with paralysis function normally in their day-to-day lives. It works by recording and interpreting the brain activity produced by neurons. In July 2021, Neuralink secured $205 million in Series C funding led by Vy Capital and others, including Google Ventures and DFJ Growth.

13. Axorus

5-year search growth: 200%

Search growth status: Peaked

Year founded: 2019

Location: Loos, France

Funding: $1.3M (Seed)

What they do: Axorus creates neuro-electronic interfaces designed to manage the symptoms of neurological diseases. The company’s goal is to use these interfaces to develop implants that can help patients improve the quality of their lives. Axorus recently secured seed funding led by Finovam Gestion, with participation from Happy Capital and Nord France Amorcage.

14. Motorica

5-year search growth: 67%

Search growth status: Regular

Year founded: 2015

Location: Moscow, Russia

Funding: $5.6M (Series A)

What they do: Motorica builds and commercializes prosthetic arms and hands. Their product line includes “bionic prosthetics”, which means that they essentially connect with the mind. According to their website, Motorica’s customer base expands across 8 countries. The startup won the “Made in Russia” prize under the science and technology category by Snob Magazine.

15. Bitbrain

5-year search growth: 2,500%

Search growth status: Regular

Year founded: 2010

Location: Zaragoza, Spain

Funding: $1.6M (Grant)

What they do: BitBrain is a neurotechnology company specializing in wearable EEG brain sensing devices and human monitoring technologies. The startup was founded in 2010 as a spin-off from a research team at the University of Zaragoza to help tech and health professionals perform human behavior research. In November 2023, Bitbrain announced a partnership with the leading behavioral research tech company, Noldus IT.

16. Cala Health

5-year search growth: -37%

Search growth status: Peaked

Year founded: 2014

Location: Burlingame, CA

Funding: $148.3M (Series D)

What they do: A bioelectronic medicine company, Cala Health offers wearable devices designed to provide neurotherapeutics. Their main solution is a non-invasive neuromodulation therapy called the “Cala Trio,” designed to offer relief against essential tremor (ET). In 2020, Cala Health won the Edison Award for “Diagnostics & Disease Treatment.”

17. BrainQ

5-year search growth: 6%

Search growth status: Regular

Year founded: 2016

Location: Jerusalem, Israel

Funding: $48.8M (Series Unknown)

What they do: BrainQ is developing precision neuro therapies by leveraging BCI technology. Using their AI-powered system, they non-invasively extract insights from patients to develop therapies that could help with neuro recovery. BrainQ was one of the 75 companies that received funding under the European Union’s Horizon 2020 Research and Innovation program. It was also recognized as a promising startup by Microsoft and Calcalist in 2018.

18. Cajal Neuroscience

5-year search growth: 2,700%

Search growth status: Regular

Year founded: 2020

Location: Seattle, Washington

Funding: $96M (Series A)

What they do: Cajal Neuroscience is a Seattle-based biotechnology company that develops new drugs for neurodegenerative diseases. Specifically, the startup integrates human genetics, functional genomics, and advanced microscopy to identify novel targets for drug discovery. In November 2022, Cajal secured $96 million in Series A funding, with the round being led by The Column Group and Lux Capital.

19. NeuroMD

5-year search growth: 4,200%

Search growth status: Regular

Year founded: 2019

Location: Miami, Florida

Funding: Undisclosed

What they do: As a medtech startup focused on pain relief, NeuroMD provides corrective therapy products for pain and muscle management. This includes an advanced neuromuscular electrical stimulation (NMES) device, which can strengthen deep spinal stabilizing muscles, reduce inflammation, heal existing damaged tissues, and improve musculoskeletal health. 

20. Hubly Surgical

5-year search growth: 1,000%

Search growth status: Peaked

Year founded: 2019

Location: Lisle, Illinois

Funding: $3M (Seed)

What they do: Hubly Surgical has developed the first FDA-approved cordless single-use cranial drill for neurosurgical procedures. The Hubly Drill is a safer alternative because of the SMART Auto-Stop feature and proprietary drill bit that reduces the risk of over-plunge. After getting FDA approval in May 2023, the medical device startup secured $3 million in seed funding in July. 

Conclusion

That wraps up our list of the best neuroscience startups to keep an eye on in 2024.

From ventures focused on drug discovery to companies working on cutting-edge tech to unlock the mysteries of the mind, this industry is trying to solve the biggest problems of medical and mental health science.

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