Austin, Texas - Paradromics Inc., a pioneering company in the field of biotechnology research, announced today that it has successfully raised $33 million in a recent funding round. The investment was led by prominent venture capital firms Dolby Family Ventures, Prime Movers Lab, and Green Sands Equity.

Founded in 2015 by Matt Angle, Paradromics is at the forefront of developing a direct data interface with the brain to revolutionize technology solutions for unmet medical challenges. Going beyond the limitations of existing brain-computer interfaces (BCIs) confined to laboratory settings, Paradromics' Connexus® Direct Data Interface (DDI) is a fully-implantable device capable of collecting an unprecedented number of individual neural signals for long-term daily service.

The primary focus of Paradromics' groundbreaking technology is the development of an assistive communication device for patients who have lost their ability to speak or type due to physical impairments. By leveraging the capabilities of the Connexus DDI platform, Paradromics aims to empower individuals with disabilities, enabling them to communicate and interact with the world in new and meaningful ways. Furthermore, the potential applications of the Connexus DDI platform extend far beyond assistive communication, encompassing the treatment of neuropsychiatric disorders and addressing sensory and motor impairments.

Supported by early grants from the National Institutes of Health (NIH) and the Defense Advanced Research Projects Agency (DARPA), Paradromics has consistently demonstrated its commitment to pioneering research and development in the field of neural interfaces. The recent funding round, which raised an impressive $33 million, further solidifies the company's position as a leader in the biotechnology industry.