Neuranics – a Scottish deep-tech semiconductor company driving the future of human-machine interaction – announced it has raised $8 million in seed funding to advance global growth and the commercial adoption of its Tunnelling Magnetoresistance (TMR) magnetic sensing technology.
The funding round was led by Blackfinch Ventures, with Archangels’ participation and continued support from Par Equity, the University of Glasgow, and Old College Capital, the University of Edinburgh’s venture investment fund.
This funding will accelerate the company’s next phase: strengthening its team, advancing innovation across core technologies, and enabling widespread integration of its TMR technology into emerging and high-tech markets, including XR, wearables, and digital health.
Neuranics’ ultra-sensitive, low-power, and scalable sensors detect tiny magnetic signals from the human body, while enabling precise tracking of muscle activity for gesture recognition and heart signal all without skin contact. Compared to the usual methods, Neuranics’ magnetic sensing technology offers improved accuracy, reduced power consumption, and the potential for continuous monitoring. These advantages places Neuranics’ technology as a breakthrough for next-generation XR hardware and wearable technology.
Neuranics is also actively collaborating with world-leading Tier-1 semiconductor and XR manufacturers to demonstrate its value in validating performance and production readiness for scaling into high-volume applications across consumer, industrial, and healthcare markets.
Launched in 2021 as the first-ever joint spinout from the University of Glasgow and the University of Edinburgh, Neuranics has quickly established itself at the forefront of magnetic sensing innovation.
KEY QUOTES:
“This investment marks a significant step forward as we continue pioneering new applications for magnetic sensing. With the support of our investors, we are expanding our team, advancing our technology, and bringing our solutions closer to widespread adoption.”
– Noel McKenna, CEO of Neuranics
“The team at Neuranics have shown us that they can not only accurately detect finite movement, but do so whilst consuming low power, which clearly opens up a tremendous number of applications across business and industry. Neuranics have an exciting market for their technology and we look forward to working with the team.”
– Kimberley Hay, Senior Ventures Manager at Blackfinch Ventures
“Neuranics is a perfect example of the type of innovative technology that Par Equity is keen to support. They are a fantastic representative of the world-class deep tech innovation emerging from Scotland’s universities, and we’re excited to help them continue to scale globally.”
– Oliver Johnston-Watt, Investment Analyst at Par Equity, who have supported Neuranics since its pre-seed round
“We look forward to supporting Neuranics as it seeks to capitalise on its leading-edge magnetic sensing solution. The company’s high-calibre team and experienced leadership, provide an excellent foundation upon which to scale the business.”
– Sarah Hardy, Director and Head of New Investments at Archangels, who are investing in Neuranics for the first time
