Tether, a digital asset industry leader, announced that it made a $200 million strategic investment in Blackrock Neurotech.
With the investment — made through a newly formed venture division called Tether Evo — Tether is now the majority stakeholder in Blackrock Neurotech, a maker of neurotechnology such as brain-computer interfaces (BCIs).
Blackrock Neurotech develops the NeuroPort Array neural interfacing system. The system, used in human BCIs since 2004, helped patients regain tactile function, movement of limbs and prosthetics and the ability to control digital devices. They can achieve this despite diagnoses of paralysis and other neurological disorders.
The company said next-generation BCIs could extend further beyond those capabilities. It unveiled its next-generation Neuralace BCI in late 2022. (Here are seven brain-computer interface companies you need to know in a competitive space with companies such as Neuralink and Synchron.)
According to a Tether news release, the investment primarily funds the commercialization and rollout of Blackrock Neurotech’s offerings. It also expects the funds to boost R&D efforts as the company looks to continue to improve upon its BCI technology.
“My life’s dream has been to help and restore function in people who lost it and to advance technologies that revolutionize healthcare and the world around us,” said Florian Solzbacher, co-founder of Blackrock Neurotech. “This ambitious, long-term endeavor requires dedicated and visionary partners. With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn’t dream of a better partner than Tether to bring our shared vision to life.”
