CorTec, a Freiburg, Germany-based neurotechnology company, closed a €3m second financing round.
Backers included M-Invest and KfW banking group.
The company intends to use the funds to complete the development and launch its first product AirRay (currently in the process of CE approval) and to start into the clinical phase with the implant based on CorTec Brain Interchange technology.
Founded in 2010 and led by CEO Dr. Jörn Rickert, CorTec has developed Brain Interchange technology that allows measuring and stimulating brain activity in chronic use. The system monitors the reactions of the brain and calculates its further activities based on these data.
10/10/2011: CORTEC RAISES €2.4M IN SEED FUNDING AND PUBLIC SUBSIDIES