ARCTOP, A COGNITION COMPANY BUILDING SOFTWARE THAT DECODES THE HUMAN BRAIN, ANNOUNCES $10M SERIES A FUNDING CO-LED BY FIFTH GROWTH FUND AND SUPERMOON CAPITAL

News provided by

Oct 10, 2023, 09:00 ET

Arctop brings world-class expertise in neuroscience and machine-learning to innovative surgical training applications for medical schools.

LOS ANGELES, Oct. 10, 2023 /PRNewswire/ -- Arctop, a software platform for brain decoding, announced today $10 million in Series A funding co-led by Fifth Growth Fund ("FGF") and Supermoon Capital. This funding will accelerate the commercialization of Arctop's pioneering technology that translates brain activity into real-time information for third party applications.

"By investing in revolutionary companies like Arctop, we aim to ensure technology serves people," said Royce Wilson, partner at FGF. "Arctop is positioned to create the world's premier non-invasive brain-computer interface and we couldn't be more excited."

"Our partnership with Arctop is part of our commitment to advancements in human-centered technologies that improve our lives, organizations, and communities," Mike Masterson said, following Supermoon Capital's investment.

Founded in 2016 by neuroscientist Dan Furman and software engineer Eitan Kay, Arctop decodes brain signals measured from wearables like headbands, earbuds, and virtual and augmented reality headsets equipped with basic electric skin sensors. Arctop's software is licensed to enterprise developers who are creating unprecedented user-centric applications, such as personalized skill training, assistive communication, and emotion-adaptive experiences.

Arctop's software platform is the intelligence layer between wearable electronics and third-party applications and is designed with end-users' privacy in mind. The company's business model explicitly does not and will never include sharing raw brain data with clients or partners. Arctop provides end users with a simple dashboard that allows them to control their own data, including granting and withdrawing permissions for third party apps, authorizing or deactivating certain features, and easy data and account deletion.

CEO Dan Furman, Ph.D., began his neuroscience training at age 16 as a research intern working to mathematically model brain tumor growth patterns and proactively halt metastases through targeted gamma radiation. After graduating from Harvard University with a degree in neurobiology, he decided to dedicate his life to developing brain-computer interface technology that could help nonverbal people communicate.

"As a neuroscientist, I have seen firsthand the life-changing impact that cutting edge technology can have on people who face difficult challenges," said Arctop's CEO Dan Furman, "And that is basically all of us at some point of our lives. Our neural decoding platform can enhance communication, learning, and experiences in a way that is accessible for all."

Arctop's real-time cognition technology has many uses and can be deployed today with trusted partners in health, education, cybersecurity, gaming and entertainment. Initially, the primary applications are in the medical field, where Arctop is collaborating with Stanford Medicine, Surgical Safety Technologies and Academy for Surgical Coaching as recipients of a grant from Wellcome Leap's SAVE, a $50 million program. Stanford Medicine's Drs. Teodore Grantcharov, James Korndorffer, and Carla Pugh are Co-PIs on the project titled "Advanced Quantification and Acquisition of Surgical Skills Using the Wearable Sensing System" which has multiple goals, including decreasing the time it takes to acquire minimally invasive surgical skills.

About Arctop
Arctop is a cognition company, founded to create widely-accessible technology that profoundly improves human life. Arctop's software applies artificial intelligence to electric measurements of brain activity — translating people's feelings, reactions, and intent — to empower the human experience. We're decoding the brain's signals to optimize skill training, power new communications, and enable unprecedented adaptive experiences. https://arctop.com

Arctop Co-Founders
Dan Furman began his interest in neuroscience in high school, where he co-developed, with neurosurgeon Christopher Duma, a minimally invasive surgical method that used brain imaging to predict the spread of malignant brain tumors and proactively halt tumor growth using gamma radiation. Dan went on to earn his A.B. in Neurobiology at Harvard. After graduating, Dan worked at a small medtech company before returning to school to do a PhD at Technion's Evoked Potentials Laboratory under Professor Hillel Pratt, where he became the first in the world to demonstrate that non-invasive brain sensor data could be used to control the movement of individual neuroprosthetic fingers. This level of granularity had never been accomplished before, and proved that brain signals measured from the scalp carry far more information than previously believed.

Eitan Kay is a self-taught, full-stack software engineering polymath who previously led cybersecurity and software engineering teams at some of the fastest growing high tech startups in Tel Aviv. In 2015, he began collaborating with the city's premier neurology department at Ichilov Hospital on specialized IT infrastructure to support cognitive research. While advancing a new virtual reality technology to enhance stroke rehabilitation in a Google-run accelerator, he met Dan. They were each representing their own respective projects but quickly realized their work was complementary and joined forces to form Arctop.

About FGF
FGF is a $100M growth stage vehicle that invests in the next generation of innovative Media, Entertainment, and Consumer Technology companies. Led by veteran media executive Ed Wilson, FGF is powered by a team of experienced investors, founders, and large-scale operators who leverage their diverse operating experience, industry knowledge and large network to foster and accelerate growth for early-stage companies. Visit www.fgf.co for more information.

About Supermoon Capital
Supermoon Capital is the only venture capital firm in the world focused exclusively on the sleep technology market. The San Francisco-based firm partners with visionary innovators across the sleep market spectrum encompassing chronobiology, neurotech, biotech, pharmaceuticals, consumer interventions, and enterprise solutions. Supermoon's global network of prominent academics, strategic partners, and renowned sleep scientists supports companies across a range of functions, including product development, go-to-market strategy, and growth financing. Visit www.supermoon.com for more information.

SOURCE Arctop