The company was founded in 2017 by Jose Carmena and Michel Maharbiz who developed the technology over many years while studying at University of California, Berkeley. They serve the company as co-CEOs. The neural dust is based on implantable electronic ICs that can be powered ultrasonically and communicate using the same technology. These devices, measuring a few millimeters but expected to scale down, can record electrical information, stimulate nerves and modulate the information transmitted through nerves.
The Series A investors include Horixons Ventures, Astellas, Bold Capital Partners, Ironfire and Shanda. The company has also named James Hattersley, a seasoned business development executive with over 25 years of business development and scientific leadership experience in the life sciences industry, as senior vice president of corporate business development.
"This funding round will advance the technology to clinical pre-trials, bringing this cutting-edge technology to the bedside as soon as possible to save lives and improve health outcomes," said Carmena. "Iota’s neural dust platform is a major breakthrough that opens up many doors for bioelectronic medicine and brain-machine interfaces," said Ehud Isacoff, director of UC Berkeley’s Helen Wills Neuroscience Institute.
Related links and articles: