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Emerging space: Neurotechnology

The private markets are constantly evolving, and new spaces rise—then sometimes fall—in the span of a few years.

The private markets are constantly evolving, and new spaces rise—then sometimes fall—in the span of a few years. Given this fluidity, it can be challenging to identify and track the most promising spaces of tomorrow. That’s why our analysts have developed a methodology to define and categorize these emerging spaces. In this post, we look at neurotechnology—just one example of a space that is quickly taking off.

What is neurotechnology?

Neurotechnologies seek to improve or modify our understanding of cognitive function, including consciousness and thought. In patients, its distinct technologies—including brain-machine interfaces, neural implants, neuromonitoring, neurostimulation, and neuroprosthetics—are used to restore, improve, or alter typical brain function. Neurotechnology’s applications attempt to realize the ambition of fusing man with machine to evolve the human condition.

As with past tech advancements, the implications of neurotechnology are both promising and concerning. It has tremendous potential to help people, but there are questions about how governments and other organizations will utilize these technologies.

PitchBook’s research team analyzes each emerging space using criteria and considerations that allows growth metrics to fluctuate as the spaces gain or lose relevancy. Based on this methodology, neurotechnology’s development is a longer-term endeavor despite a recent decline in growth metrics highlighted in the Emerging Spaces feature. As these technologies are realized, their prominence is likely to continue to grow.

Quick stats

Leading companies




Capital invested




Key growth metrics


Capital Invested (TTM)
▲ 156.09% YoY


Median Deal Size (TTM)
▲ 495.04% YoY


Median Post Valuation (TTM)
▲ 264.12% YoY

Trending neurotechnology companies

Helius Medical Technologies

  • HQ: Newtown, PA
  • Leadership: Dane Andreeff, CEO
  • Raised to date: $43.04M

Helius Medical Technologies is a neurological wellness company that focuses on non-invasive procedures to alleviate the effects of trauma and mental illness. Its main product offering, the Portable Neuromodulation Stimulator (PoNS), can help alleviate balance issues from mild-to-moderate traumatic brain injury.

Assure Neuromonitoring

  • HQ: Denver, CO
  • Leadership: John Farlinger, chairman and CEO
  • Raised to date: $25.99M

Assure Neuromonitoring provides remote neurology services and outsourced intraoperative neurophysiological monitoring (IONM). Its services are largely dedicated to supporting surgeons and facilities and delivering a positive patient experience.


  • HQ: Lausanne, Switzerland
  • Leadership: Tej Tadi Ph.D, founder and CEO
  • Raised to date: $235M

MindMaze is the developer of a virtual reality, augmented reality and motion capture game system. Their product combines immersive VR, motion capture and neurophysiological recording technologies to build novel interfaces for neurorehabilitation, game training and 3D imaging in real-time.

Most active investors in neurotechnology

US Department of Health and Human Services

  • HQ: Washington, DC
  • Neurotechnology investments: 11
  • Latest deal: October 4, 2021

The US Department of Health and Human Services is an investment firm that specializes in government investments and prefers to invest in medicine, public health and social services.


  • HQ: Princeton, NJ
  • Neurotechnology investments: 10
  • Latest deal: January 18, 2022

SOSV is a global venture capital and accelerator firm founded in 1994. It specializes in sectors such as hardware, robotics, software and life science and also operates startup accelerator investment programs.

United States Department of Defense

  • HQ: Washington, DC
  • Neurotechnology investments: 9
  • Latest deal: December 21, 2021

The US Department of Defense is an executive branch department of the federal government that focuses on national defense and maintaining international influence. It prefers to invest in the healthcare, commercial products and information technology sectors.

Get to know some of PitchBook’s other emerging spaces


This article was created based on PitchBook’s Emerging Spaces feature. To check it out for yourself, log in or request a free trial.