With the completion of a $55m fundraise, Axoft is planning to advance the development of its implantable brain-computer interfaces (iBCI).
The Massachusetts-based company’s oversubscribed Series A round was led by C.P. Group Innovation. Additional backers, including Alumni Ventures, the Stanford President’s Venture Fund, and Gaorong Ventures, also participated.
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Since Axoft was founded in 2021, it has completed first-in-human (FIH) clinical trials, implanting its iBCIs in more than 11 patients worldwide. The Series A funds will primarily support the continuation of existing global clinical trials, Axoft said, and progress ongoing US regulatory activities for the technology.
BCIs are a technology that allows for the direct communication between the human brain and an external device, such as a computer or robotic limb, by interpreting neural signals.
For neurological disorders, Axoft is convinced that its iBCIs have the potential to advance how they are treated and assessed by providing access to neural activity that cannot be captured through traditional exams or external imaging alone.
Axoft’s FINESSE study (NCT06673264), completed in April 2025, demonstrated that its probes remained safe and stable over the 20-minute implant duration, with no signal drift at the single neuron resolution – an outcome the company asserted was due to the softness of its implant. Axoft’s iBCIs are made using Fleuron, a material that facilitates neural data capture over longer periods of time due to its biocompatibility, the company stated.
Axoft also said it would use the funds to build out a good manufacturing practice (GMP) facility in Boston for the mass production of its iBCIs.
Axoft’s CEO, Dr Paul Le Floch, said: “This new funding and strategic support from C.P. Group Innovation allows us to expand our work into global markets. With multiple in-human clinical studies underway, and several industrial and academic organisations already using Fleuron for their own research and development, Axoft is well-positioned to unlock new treatments for patients suffering from neurological disorders, while also benefitting the broader biomedical engineering community by making our novel material platform widely available.”
Advancing at a rapid pace, BCIs are under development to address various conditions, including chronic pain, epilepsy, and the restoration of movement in paralysed individuals.
According to Science Corporation, it can cost between $75m-$100m for companies to build a full-stack clinical-grade BCI platform to underpin the technology. In February 2026, Swiss-based Neurosoft Bioelectronics became the first BCI developer to join Science’s BCI ecosystem, an initiative the company asserts will give innovators access to BCI capabilities to drive their initiation of FIH trials of their BCIs within a shorter time frame and at a lower cost.
