Bengaluru-based deep-tech startup Nexstem has raised $3.5 million in its latest funding round. The funding round attracted investors like InfoEdge, Zupee, Smile Group and Nikhil Kamath and Abhijeet Pai's Gruhas.
Nexstem said the investment will help scale its latest product ecosystem and expand its IP portfolio in the neurotech sector. The funds will also support global expansion, particularly into American and European markets.
Nexstem's product suite for brain computer interface—Instinct—leverages artificial intelligence-powered onboard compute module that supports analysis of bio-signals from the human body. By removing the cost barriers traditionally associated with BCI technology, Nexstem is helping improve access to technologies such as electroencephalography.
BCI technology enables direct communication between the human brain and external devices, a field once confined to science fiction but now rapidly advancing towards real-world applications. From restoring lost motor functions to augmenting cognitive capabilities, BCI has the potential to improve human-machine interactions.
Nexstem Instinct is crafted as a development kit to address the complexities researchers, academics, and innovators face in implementing and refining proof-of-concept use cases in BCI technology. Instinct's AI-powered platform has integrated hardware, software development kits, application programming interfaces, and real-time biosignal algorithms. Nexstem can customise IP solutions, which can speed up the adoption of biosignal/BCI integrated solutions for applications beyond healthcare, enabling organisations to create advanced applications on the human body API.
"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," Siddhant Dangi, co-founder of Nexstem, said.
The company said that over the next three years, it aims to release Nexstem Coin, EXG modules and tACS technology, adding to its existing product and IP portfolio, securing regional and compliance certifications and expanding into defence and consumer markets. The company is also eyeing a potential Series A funding round in the coming year.
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