Deep tech semiconductor company Neuranics, a joint spinout between the universities of Edinburgh and Glasgow, has raised $8 million to accelerate global growth and commercial adoption of its magnetic sensing technology.
The investment round was led by Blackfinch Ventures, with participation from Archangels, and continued support from Par Equity, the University of Glasgow, and Old College Capital, the University of Edinburgh’s venture investment fund.
The funding will drive the company’s next phase—strengthening its team, accelerating innovation across core technologies, and enabling widespread integration of its Tunnelling Magnetoresistance (TMR) technology into emerging and high-tech markets, including extended reality (XR), wearables, and digital health monitoring.
Neuranics’ ultra-sensitive, low-power, and scalable sensors detect tiny magnetic signals from the human body, enabling precise tracking of muscle activity for gesture recognition and heart signals—all without skin contact.
Compared to traditional methods, Neuranics’ magnetic sensing technology offers improved accuracy, reduced power consumption, and the potential for continuous monitoring. These advantages position Neuranics’ technology as a breakthrough for next-generation XR hardware and wearable technology.
The company was co-founded in 2021 by Kia Nazarpour, Professor of Digital Health at the University of Edinburgh’s School of Informatics and Neuranics’s chief strategy officer (CSO); Hadi Heidari, chief technology officer (CTO) and Professor of Nanoelectronics at the University of Glasgow, and Lead Engineer Dr Siming Zuo.
Professor Nazarpour said:
Neuranics brings together Edinburgh’s AI strengths with Glasgow’s semiconductor expertise, and it’s a great example of how combining our skills, supported by both universities, along with vital backing from the Scottish Government through Scottish Enterprise, can lead to breakthrough AI-on-chip solutions for the future of gesture recognition and XR hardware.”
Noel McKenna, CEO of Neuranics, which recently won a prestigious Consumer Electronics Show (CES) Innovation Award, said:
This investment marks a significant step forward as we continue pioneering new applications for magnetic sensing. With the support of our investors, we are expanding our team, advancing our technology, and bringing our solutions closer to widespread adoption in consumer electronics and healthcare.”
Andrea Young, Head of Investment at Old College Capital, said:
We are delighted to continue to support Neuranics as they take this next step in commercialising innovative IP from two of Scotland’s leading universities. Their technology is exciting and has applications across a number of high-growth and high-value markets including consumer electronics, industrial use cases, and digital health. ”
