2025 Neurotech Funding Snapshot II
Categories: Creating Vs Conforming
Here is part two of the 2025 Neurotech Funding Snapshot focused on Categories.
For this analysis, Category means type of neurotechnology, by modality or application. I’ve grouped these into two general sections: “Analytic” and “Therapeutic.”
Analytic or “read/analyze” tech: AI, Cognitive Assessments, Digital Health, EEG-based applications totaled $941m across 41 deals
Therapeutic or “treat/modify”: Implanted & external neuromodulation from head to toe, including all cranial implants and BCI, totaled $4+B this year across 100 deals
As with any analysis, there are some generalizations and groupings based on practical constraints of this kind of breakdown, more than the technical underpinnings of the product/company in question e.g. yes TMS can be for reading but it’s not here. Additional context for each category is included in the below breakdowns, along with notable deals and brief trend analysis.
In terms of meta-level observations after doing this, here are a few things that jump out:
Stages Across Categories - Neurotech funding is finding a mix of new application development and growth opportunities in every sector of neurotechnology. This is a great sign and a confirmation that neurotech is not a bubble that will pop if brain implants fall out of vogue, but frontiers of R&D splintering into new commercial avenues (and still pouring into established ones)
New Markets Emerging - This is a longer analysis but I was heartened at the variety of new focus areas compared to last year. A continued strong showing for modalities across consumer, life sciences, and mental health. But new momentum into oncology, women’s health, chronic disease, inflammation, and more signals there is much more neurotech ahead.
New Funder Energy - There were 5 more jumbo deals than 2024. When $100m drops into a spreadsheet it makes a dent, yet in some ways funding by category does not say much about the category. So: Does anyone expect new category creators like Nudge and CoMind to emerge in 2026? With Merge Labs official announcement, what categories of neurotech will emerge with “seed rounds” of nine figures or more?
Let’s dive in.
