Gestala, a pioneering startup in the field of brain-computer interfaces (BCIs), has successfully raised $21.6 million (CN¥150 million) within just two months of its launch. This funding round, which values the company between $100 million and $200 million, was co-led by Guosheng Capital and Dalton Venture, alongside contributions from Tsing Song Capital, Gobi Ventures, Fourier Intelligence, Liepin, and Seas Capital. The oversubscription of this round, with total commitments exceeding $58 million, reflects the growing interest in BCI technology.
Founded by entrepreneur Phoenix Peng, Gestala is at the forefront of developing non-invasive ultrasound-based BCIs, distinguishing itself as the first of its kind in China. The funds will be allocated towards research and development, expanding the team from 15 to approximately 35 employees by the end of the year, and establishing a manufacturing facility in China. The startup aims to unveil its first-generation prototype by year's end.
The global BCI sector is witnessing a surge in investments, particularly in ultrasound technology. While several ultrasound BCI startups have emerged in the U.S., Gestala aims to leverage its unique position to innovate further. Peng envisions ultrasound as the future of BCI technology, capable of providing comprehensive access to brain functions and enhancing interaction with neural activities.
This non-invasive approach addresses a significant barrier to BCI adoption: the risks associated with surgical procedures. Compared to traditional implanted electrode systems, ultrasound technology can monitor a broader area of the brain, including deep neural circuits. Utilizing phased-array ultrasound, Gestala's system can accurately stimulate or inhibit neural activity without surgical intervention.
Despite the current geopolitical climate, Peng remains optimistic about potential collaborative efforts between the U.S. and China in deep technology research, emphasizing that both nations possess unique strengths that could advance global neuroscience.
Gestala is actively exploring various medical applications for its technology, with chronic pain management being a primary focus. Current studies indicate that ultrasound stimulation can significantly alleviate pain, a condition affecting many in both the U.S. and China. The startup is also investigating its technology's potential in addressing mental health issues, including depression, PTSD, autism, and OCD, as well as stroke rehabilitation. Future targets may include Alzheimer's disease and Parkinson's disease.
By capitalizing on China's integrated manufacturing ecosystem, Gestala aims to transition swiftly from development to production, outpacing many international competitors. The company is collaborating with major Chinese hospitals to streamline clinical trials at a fraction of the cost compared to similar studies in the U.S. or Europe. Additionally, Gestala is establishing an "Ultrasound Brain Bank" to compile a comprehensive clinical dataset that will aid in training AI models for decoding brain signals and enhancing neurological diagnostics.
