Healthtech
Q4 202316.11.2023

Neurotech

Picture of Federico Scolari

Federico Scolari

at Sifted

The human brain has an estimated 85bn glial cells, 86bn neurons and roughly a quadrillion synapses (that’s 15 zeroes) keeping the lights on inside our bodies. Despite traditional neuroscience taking us a long way in unbundling the secrets behind these numbers, the brain remains largely understudied, leaving many market gaps untapped.

And while European neurotech funding is still shy of US funding (on average, European startups have attracted just 24% of the sum raised by their US counterparts since 2021), the industry’s showing signs of expansion — 2023 is on track to match early-stage injections in 2022. As ever, it’s mainly big cheques that Europe’s neurotech rising stars lack.

Hacking the brain is no walk in the park — it’s a bundle of ethical issues, regulatory pressures, technical difficulties and general public mistrust. But with over 600 different disorders affecting an estimated 165m Europeans, the demand for new neurotech solutions only looks set to increase.

20 most promising early-stage startups to watch

  • Muna Therapeutics logo

    Sifted score

    7.76
    -

    Muna Therapeutics

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2020

    • HQ

      Copenhagen, Denmark

    • Latest round

      Grant
      €4.5m / Oct 2022

    • Total funding

      €66.4m

    View company profile
  • machineMD logo

    Sifted score

    7.3
    -

    machineMD

    • Serial founder(s)

    • Year founded

      2019

    • HQ

      Bern, Switzerland

    • Latest round

      Seed
      €3.4m / Sep 2022

    • Total funding

      €6.5m

    View company profile
  • Charco Neurotech logo

    Sifted score

    7.18
    -

    Charco Neurotech

    • Strong investor(s)
    • Hiring

    • Year founded

      2019

    • HQ

      Cambridge, United Kingdom

    • Latest round

      Seed
      €9.1m / Nov 2021

    • Total funding

      €10m

    View company profile
  • Newronika logo

    Sifted score

    7.16
    -

    Newronika

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2016

    • HQ

      Cologno Monzese, Italy

    • Latest round

      Grant
      €2.5m / Mar 2023

    • Total funding

      €13.9m

    View company profile
  • AviadoBio logo

    Sifted score

    7.12
    -

    AviadoBio

    • Strong investor(s)
    • Hiring

    • Year founded

      2019

    • HQ

      London, United Kingdom

    • Latest round

      Series A
      €72.7m / Dec 2021

    • Total funding

      €87.1m

    View company profile

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