Epson Invests in BCI Technology Development Startup Neurable
- TOKYO, Japan, April 24, 2023 -
Seiko Epson Corporation (TSE: 6724, "Epson") and its subsidiary company Epson X Investment Corporation ("EXI") have invested in startup company Neurable, Inc., through a joint fund, the EP-GB Investment Limited Partnership. Boston-based Neurable, a University of Michigan spinout founded by Dr. Ramses Alcaide and Adam Molnar, develops brain-computer interface1 (BCI) technology that uses brain wave ("electroencephalography / EEG") activity.
Research projects involving BCI technology, which connects the brain to an external device such as a computer or an IoT device, were initially limited to certain areas such as medical treatment and rehabilitation. In recent years, however, with improvements in the accuracy of brain-wave sensors and the quality of signal detection, promising new applications are emerging in the healthcare and consumer electronics fields. For wellness applications, BCI technology may be used to boost concentration, improve sleep quality, or alleviate stress. BCI can also improve gaming as well as augmented and virtual reality when embedded into consumer electronics.
With the measurement of brain wave activity expected to drive the expansion of the well-being2 and healthcare markets, Neurable draws on knowledge and insights from neuroscience and an abundance of research data to develop AI-based algorithms for extracting and analyzing EEG data. The company sells non-invasive BCI technology to OEMs, enabling various products such as headphones, earbuds, and AR that give users access to their own data, privately and securely, to improve productivity and wellness. Neurable wants to create a world without physical or mental limitations using its advanced algorithms and hardware to measure brain activity and provide actionable insights that everyone, everywhere, can use in their everyday lives.
Epson seeks to give people more lifestyle options and improve their mental and physical health by using pulse sensors and other biosensing technologies. This investment decision was made based on the potential of Neurable's algorithms and hardware technology in the growing well-being and healthcare markets, as well as on the promise of their platform business.
Going forward, Epson will help to achieve a sustainable society by creating a variety of partnerships and synergies based on our proprietary technologies, products, and services.
About Epson X Investment
Epson X Investment Corporation is a Corporate Venture Capital (CVC) firm wholly owned by information equipment and precision instrument manufacturer Seiko Epson Corporation. It established the EP-GB Investment Limited Partnership with independent venture capital firm Global Brain Corporation, an independent venture capital firm specializing in CVC management, and participates in investment activities.
A University of Michigan spinout, Neurable is a neurotech3 startup that intends to use brain Waves to create a world where everyone, everywhere, is free of physical and mental limitations and stress.
Company name: Neurable, Inc.
Address: 45 Bromfield St. #7 Boston, MS 02148, USA
CEO: Dr. Ramses Alcaide
Established: 2016/5 (from University of Michigan)
Number of employees: 20
Business: Development of BCI technology and development and sales of EEG headphones
- 1 Brain computer interface technology is used to control devices by using electroencephalography to detect electrical signals of the brain, which are then converted and abstracted into patterns that can be understood by computers and IoT devices.
- 2 Well-being is a state of individual mental, physical and social happiness and fulfillment. It is also the third goal, "Good health and well-being" of the Sustainable Development Goals.
- 3 Neurotech is technology that applies neuroscience, such as technology that measures and monitors brain activity and technology that stimulates the brain for therapeutics or to promote skill improvement.
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson's goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion.