Precision Neuroscience, a brain-computer interface company co-founded by a former Neuralink engineer, closed an oversubscribed $250 million Series D round this week that values the company at just over $1 billion. The round was co-led by Bill Ackman's Pershing Square Inc. and the Ackman Oxman Institute, alongside a life-sciences investment fund, and brings Precision's total funding since its 2021 founding to roughly $430 million.
Other participants included Duquesne Family Office, ARK Invest, Mubadala Capital and Medtronic-linked investors, among others, according to the company's announcement.
A thinner, less invasive implant
Precision's lead product, Layer 7, is a film thinner than a human hair carrying 1,024 electrodes that sits directly on the surface of the brain, rather than penetrating brain tissue the way some rival implants do. The company says that design makes it minimally invasive and safely removable. The FDA cleared Layer 7 in April 2025 for temporary use of up to 30 days, and Precision says it has used the device in more than 100 procedures across 18 medical centers, along with a commercial partnership with Medtronic and its own microelectronics manufacturing facility in Texas.
The new capital will go toward pursuing FDA approval for a permanent, fully implantable version of the system intended for patients with severe paralysis, chief executive Michael Mager said, adding that regulatory clearance for permanent implants "is likely to take years." Co-founder Benjamin Rapoport previously worked on brain-computer interfaces at Neuralink before starting Precision.
We have learned that the brain can recover from even catastrophic injury, and that there is far more that can be done for people living with neurological injuries.
Bill Ackman, Pershing Square
The round is one of the largest in the brain-computer interface field this year and comes as investors increasingly treat neurotechnology as a serious medical-device category rather than a speculative bet, following comparable interest in rivals such as Synchron and Neuralink. Precision says its next milestone is an early feasibility study of the fully implantable system, a required step before it can seek broader FDA approval.
