Neuroelectrics — Neuromodulation & Stimulation · fobi

Neuroelectrics

Develops non-invasive transcranial electrical stimulation and EEG systems for research and clinical applications in epilepsy and neurorehabilitation. Starstim and Enobio product lines used in academic and clinical research. Raised multiple funding rounds and has active clinical programs for epilepsy.

Combines high-density EEG recording with targeted electrical stimulation in a single platform, bridging diagnostic and therapeutic BCI capabilities.

neuroelectrics.com Neuromodulation & StimulationSpainprivate

At a glance

Total raised

$17.5M

last round series a

Headcount

51-200

approximate · public range

Headquarters

Barcelona

Spain

Founded

2011

15 years active

Status

Private

Neuromodulation & Stimulation

Subsector

Neuromodulation & Stimulation

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Date	Stage	Amount	Valuation	Lead investors
May 1, 2021	Series A	$17.5M	—	Morningside Ventures

AI bull / bear

Bull case

Neuroelectrics owns a differentiated dual-platform thesis that bridges diagnostic monitoring and therapeutic intervention in a way few neuromodulation companies can match. Its Starstim and Enobio platforms combine high-density EEG with targeted transcranial electrical stimulation, enabling closed-loop applications that pure-play stimulators or recording systems cannot deliver alone. That integrated capability is especially powerful in epilepsy, where real-time seizure detection paired with responsive stimulation could challenge invasive alternatives. The company already has commercial traction in academic and clinical research settings, providing recurring revenue and real-world data to support regulatory submissions. If its ongoing epilepsy programs generate positive clinical data, Neuroelectrics becomes a strong acquisition target for larger neuro-device firms seeking a non-invasive, scalable pathway into the $6B+ epilepsy treatment market. The non-invasive approach also avoids the surgical risks, cost barriers, and reimbursement friction that burden competitors like NeuroPace or Neuralink.

Bear case

Neuroelectrics faces an uphill battle on multiple fronts. Its total funding to date remains undisclosed, suggesting the company has not raised the kind of large, marquee rounds that signal conviction from top-tier medtech investors. Without disclosed financial backing or recent newsflow, it is difficult to gauge commercial momentum or clinical execution pace. The company operates in a crowded and noisy neuromodulation landscape where well-capitalized competitors like NeuroPace (with an approved implantable epilepsy system), Synchron (stentrode BCI with FDA breakthrough status), and even non-invasive alternatives from Nexstim and Magstim are all vying for physician adoption and insurance coverage. Non-invasive electrical stimulation also carries persistent skepticism around efficacy and reproducibility, which has limited clinical translation beyond research labs. Until Neuroelectrics publishes compelling pivotal trial data — not just academic studies — its products risk remaining niche research tools rather than standard-of-care treatments.

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Neuroelectrics

At a glance

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Funding history

How they make money

Founder backgrounds

Ana Maiques

Giulio Ruffini

AI bull / bear

In the news

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Leadership

Products

Starstim

Enobio

Open roles

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