Precision Neuroscience raises $250M Series D for its brain-computer interface

Precision Neuroscience, a New York-based developer of brain-computer interfaces, has closed a $250 million Series D round. The company announced the financing on Thursday, September 24, 2026, and said the round was oversubscribed. The New York Times reported the round first, valuing the company at more than $1 billion; MedTech Dive followed on September 25.

What the Layer 7 device does

The company's product, the Layer 7 Cortical Interface, is a thin, flexible electrode array that sits on the surface of the brain instead of penetrating its tissue. It is thinner than a human hair and carries 1,024 electrodes on a device the size of a postage stamp. The array both records and stimulates brain activity, and the signals it captures are turned into commands for digital devices.

Surgeons implant the interface through what the company calls a micro-slit incision technique. The Food and Drug Administration cleared the device for 30-day use in April 2025.

Investors and the valuation

Pershing Square, the Ackman Oxman Institute and an undisclosed life sciences investment fund co-led the financing. Bill Ackman, chief executive of Pershing Square and co-founder of the Ackman Oxman Institute, a brain research center, is a central figure in the round. "Neurotechnology will be central to the next generation of cures, treatments and rehabilitation," Ackman said in a statement. The round brings total funding at Precision Neuroscience to $430 million.

Competition in brain-computer interfaces

BCI developers differ mainly in how invasive their technology is. Elon Musk's Neuralink is building electrodes that connect directly to brain tissue, while Precision Neuroscience keeps its array on the organ's surface. The sector has drawn large rounds this year: Science Corporation raised $230 million for a retinal implant, and Merge Labs secured $252 million. In January 2026, Precision Neuroscience partnered with Medtronic to integrate Layer 7 with the Medtronic neurosurgical platform.

According to the company, the new capital will expand its clinical program, move Layer 7 through the next stages of FDA review and build the infrastructure it needs to commercialize the device.