PALO ALTO, Calif.--(BUSINESS WIRE)--NexStem, a MedTech and robotics startup that creates non-invasive robotic solutions controlled exclusively by a user’s thoughts, today announced the finalization of its latest round of funding and the general availability of its NexStem Headsets and Wisdom-SDK (software development kit). This pioneer in the development of advanced end-to-end Brain-Computer Interfaces (BCIs) devices and applications, has cracked the code on improving the quality of the electroencephalography (EEG) signals harnessed by BCIs – a critical next step in inserting the human into the metaverse.
Spurred on by growing interest in NexStem’s innovative offering, this cash injection by investors BITS Spark Angels, InfoEdge Ltd., Maninder Gulati, and a host of angel investors will be used to fund the company’s growth and provides validation of this nascent field and technologies. NexStem will use this funding to facilitate the general availability of its award-winning headsets to the U.S., European, and APAC markets and to expand the company's reach, build out its supply chain, and fund future research and development of its headsets and Wisdom-SDK software.
Recent research estimates that the global market for BCI devices will grow from $1.9 billion in 2021 to $3.3 billion by 2026. Further accelerating this growth is the fact that BCI use cases are growing from rudimentary health and static virtual reality applications to more immersive all-encompassing experiences. With a NexStem solution, developers and researchers can unlock an end-to-end experience with a next-generation headset at a highly affordable price point, and SDK-harnessing AI-algorithms that allow a user to engage with an application using their thoughts alone.
“We are creating the link between the EEG signal received by our headsets to the software needed to process and map this data to a multitude of applications”, said Siddhant Dangi, CEO, NexStem. “What differentiates us from other BCI providers is that, we provide the means for people to seamlessly communicate with machines through technologies that unlock the power of the human brain, to control actions and devices through thought. Our holistic approach to developing BCIs ensures we aren’t limited to a niche market. The funding we have received is validation not only of our technology, but that this is a market just waiting to break out into the mainstream.
“At NexStem, we are exploring the limitless use cases of BCIs in VR (virtual reality), mental health, and everyday use cases – paving the way for the human to become part of the Internet and the metaverse.”
An inclusive end-to-end BCI solution researchers and developers can create BCI applications by:
- NexStem Headsets – An aesthetic device, the NexStem headset has been designed with quality and affordability at its core. Delivering medical-grade EEG signals, this non-invasive headset has strategically placed electrodes providing optimum coverage of brain signals, low electrode-skin impedance, and low noise interference, key to clear and accurate signal capture. When coupled with its Wisdom Software Development Kit (Wisdom-SDK), users can perform real-time analysis of EEG signals and build interfaces to gain insights from the data supplied by different cortexes in the brain. The headset is easy-to-use, ergonomic, non-invasive, supported by memory foam cushioning, has 16-channel EEG sensors, 15-pin dry EEG electrodes, with 6-hours battery life delivered via Wi-Fi or Bluetooth. It retails for $800.
- NexStem Wisdom SDK - The NexStem Wisdom SDK is a no-code modern, intuitive, and easy alternative to developing and designing BCI applications. With its drag and drop interface, developers can build complex machine learning algorithms used in real-time. This has been achieved by using GPUs in its algorithms that allow NexStem to make much quicker computations and calculations across EEG data. Clients can purchase the Wisdom SDK via three models: its free version, which excludes the advanced AI algorithms, buy the software outright and run it locally, or via the NexStem cloud-plan. With the cloud plan, users are not required to secure their own computational resources or support. Costs for the Wisdom SDK plans are $0 for the free version, $15 a month for the local or on-premises version, and $100 for the cloud-based plan.
Regarding future projects, NexStem has set itself an ambitious goal to develop one algorithm a month that allows humanity to understand the brain better. The team is looking to reduce the industry's dependence on EEG data and signals, asserting that every other biosignal that originates from the body, such as muscular or even eye movements, can and should be tapped into. For example, heart, eye movements, oxygen saturation, perspiration, muscular movements, and even blood pressure cues.
“The biggest challenges facing BCIs today is that they are invasive, unwieldy, or ineffective, and building applications for them is difficult,” said Deepansh Goyal, CTO, NexStem. “We are unlocking the power of neural data ethically and responsibly through EEG analysis for medical and non-medical applications, stripping away BCI barriers to entry. NexStem does this by providing researchers, developers, and medical scientists with the tools needed to access quality EEG data they can transform into both medical and non-medical applications and use cases. Our goal is to help unlock the human brain and improve quality of life for all. Our vision is to become a complete toolkit for all the biosignals a body produces, and we continually develop new solutions to support this,” concluded Goyal.
Use cases extend to VR where instead of using a controller, users can use their thoughts to move around. Home automation integration allows users to “think” about switching on a television or adjusting the thermostat. Mental health is a qualitative use case, as the devices provide practitioners direct access to EEG data in a more accessible and affordable manner.
For more information, visit www.nexstem.ai.
NexStem, a MedTech and robotics startup, creates non-invasive mind-controlled robotic solutions controlled simply by one's thoughts. A pioneer in Brain-Computer Interfaces (BCIs), we ethically and responsibly unlock the power of neural data through EEG analysis, used in medical and non-medical applications. Our solutions are affordable, easy to use, and aesthetic. Extending the neuroethical and responsible use of BCIs to developers, our software and tools are used by developers and researchers to build bespoke applications for our proprietary headsets and third-party devices. To help unlock the human brain and improve quality of life for all while inserting humankind into the metaverse, we think beyond thought. For more information visit https://www.nexstem.ai.