Precision Neuroscience, a New York company that develops a brain-computer interface designed to sit on the surface of the brain, said on 24 September 2026 that it had closed an oversubscribed $250m Series D round.
The round was co-led by Pershing Square, the investment firm run by Bill Ackman, the Ackman Oxman Institute and a life sciences investment fund that the company did not name. The new money brought Precision's total funding to $430m.
The company did not disclose a valuation. The New York Times reported that the round valued Precision at just over $1bn, and that Pershing Square and the institute together put in $42.5m, according to The Next Web and MedPath, which cited the newspaper.
“Neurotechnology will be central to the next generation of cures, treatments, and rehabilitation.”Bill Ackman, CEO, Pershing Square, and co-founder, Ackman Oxman Institute
What Precision Neuroscience does
Precision's main product is the Layer 7 Cortical Interface, a thin-film electrode array with 1,024 electrodes. Unlike systems that push electrodes into brain tissue, the array rests on the surface of the brain, and the company describes it as minimally invasive and removable.
The US Food and Drug Administration cleared the device in April 2025 for temporary use of up to 30 days, according to The Next Web and MedPath. Precision said it has carried out more than 100 procedures at 18 medical institutions, including Penn's Perelman School of Medicine, University of Chicago Medicine, Mount Sinai Health System and West Virginia University's Rockefeller Neuroscience Institute.
The company also reported recording across 4,096 electrodes and decoding intended movement in real time. It has a commercial partnership with Medtronic to integrate its array with an established neurosurgical platform, and it makes its electrode arrays at its own microfabrication facility in Texas.
Who invested
Besides the three co-leads, the round drew Duquesne Family Office, B Capital, ARK Invest, Invus, Mubadala Capital, Mirae Asset Capital, Korea Investment Partners, Hitachi Ventures and JSL Health Capital.
The Ackman Oxman Institute is a Manhattan brain research centre founded by Ackman and his wife, Neri Oxman. Precision is its first investment, according to The Next Web, which reported that Ackman cited the company's less invasive approach as part of the appeal. ARK Invest is also an investor in Neuralink, The Next Web noted.
Precision was founded in 2021. Its chief executive is co-founder Michael Mager, and its co-founders include Benjamin Rapoport, who also co-founded Neuralink, according to the New York Times as cited by The Next Web.
What the money is for
Precision said the money would expand its clinical development programme, fund continued regulatory work, more procedures and product development, scale up manufacturing and build the infrastructure needed for commercial sales.
A central goal is approval for permanent implants. The company is preparing an early feasibility study of a fully implantable system for people with severe paralysis. Mager told the New York Times the approval process was likely to take years, according to MedPath and The Next Web.
The company also said that John Donoghue, founder of the BrainGate research programme, had joined as a scientific adviser.
The funding so far
Precision raised a $102m Series C in December 2024 at a post-money valuation of about $500m, MedPath reported. The Series D therefore roughly doubled the company's reported valuation in under two years.
The round came amid heavy investment in brain-computer interfaces. More than $2bn has gone into companies in the field over the past 18 months, according to figures from Neurofounders cited by The Next Web. Rival Paradromics implanted its first device in a patient in June, the publication reported.
Company website: precisionneuro.io