StairMed Secures RMB 500 Million ($72.8M) Strategic Financing Led by Alibaba and Tencent
Summary
Shanghai-based StairMed Technology closed a strategic financing round totaling RMB 500 million (approximately $72.8 million), led by Alibaba with participation from SDIC Innovation Capital, Tencent, Fountainbridge Capital, OrbiMed, Oriza Seed, Qiming Venture Partners, Lilly Asia Ventures, and Source Code Capital. This marks a rare joint investment by Alibaba and Tencent in the brain-machine interface sector. StairMed has raised over RMB 1.1 billion in total funding in the past year.
Why it matters
This financing highlights the intense competition in China's BCI market, with major tech conglomerates now directly investing in neural interface startups. StairMed's 256-channel wireless invasive BCI system is the only such device in China with access to the NMPA Green Channel for innovative medical devices.
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