Hangzhou-based Nanochap raised RMB 500 million in Series C+ funding on November 3. Gaorong Ventures led the round, with support from PICC Equity, Monolith, and C&D Emerging Industry Investment. The company builds brain-computer interfaces for vision restoration.
Funding so far
This is the company's second funding round this year. Its cumulative disclosed funding now stands at RMB 1 billion. Existing shareholders, including Legend Capital, made additional follow-on commitments.
Company context
Founded in 2014, Nanochap develops neural chips and implant systems. It pursues both retinal stimulation and visual cortex stimulation. The technology is designed for people with severe vision loss.
Clinical progress
The 320-channel retinal system has entered clinical trials and helped patients recognize letters, write, and walk. One patient identified complex letters the day after activation. Two other patients later completed independent walking tests.
Nanochap plans clinical validation for a 1,280-channel visual cortex interface. That system remains under development. The company reports three completed human implants in its retinal implant program.