Hangzhou-based Nanochap Electronics is developing retinal and visual cortex implants to restore sight, with 500 million yuan in new funding supporting its clinical ambitions.
Chinese brain-computer interface (BCI) startup Nanochap Electronics has raised 500 million yuan ($70 million) in a Series C+ funding round as it advances technologies designed to restore vision in people with severe visual impairment.
The round was led by Gaorong Ventures, with participation from PICC Equity Investment, Monolith Capital, C&D Emerging Investment, Oriental Fortune Capital, Danhe Capital and Hangzhou Industrial Investment Group. Existing investors, including Legend Capital and other industrial investment firms, also increased their commitments. Qifeng Capital acted as the sole financial adviser.
This is Nanochap’s second funding round of 2026, bringing its cumulative fundraising to 1 billion yuan.
Founded in 2014 and headquartered in Hangzhou, the company develops, manufactures and sells BCIs and neural chips. It is among China’s early developers of visual BCI technology, focusing on two approaches to vision restoration: retinal implants and devices that stimulate the visual cortex.
The company says it has completed clinical trials involving three patients, marking progress toward translating its technology into medical applications.
Two approaches to restoring vision
Visual restoration is considered one of the most technically challenging applications of BCIs.
Most companies developing visual BCIs focus on a single approach. Science Corporation’s PRIMA system targets the retina, while Neuralink’s Blindsight is designed to stimulate the visual cortex. Nanochap is pursuing both.
Its retinal-based E-BCI system uses electrical stimulation to activate retinal neurons, while its V-BCI system is designed to stimulate the brain’s visual cortex directly. The company says the dual approach could potentially address different causes and types of blindness.
The company has developed a retinal implant with 320 electrical stimulation channels, which has entered clinical trials under Good Clinical Practice (GCP) standards. Nanochap says preliminary clinical results have provided initial evidence of the system’s safety and efficacy.
Its visual cortex system, featuring 1,280 channels, remains in development and is expected to undergo clinical validation.
The company has also developed a minimally invasive retinal interface that does not penetrate the eyeball and is designed to be reversible.
Early clinical results
Nanochap has reported progress in three patients who underwent implantation procedures in 2026.
In May, a retinal BCI containing 320 stimulation channels was implanted in a patient identified as Lingling, who had been blind for nearly 20 years. According to the company, she recognized complex letters including H and R the day after the device was activated.
Over the following two months, she reportedly learned to write the Chinese character for China, grasp objects such as a drinking glass and walk along a marked line on the floor.
In a separate procedure in Wuhan, 60-year-old Qiu Hua received what the company described as the world’s first high-resolution semi-invasive retinal BCI implant. After four years of blindness, she was able to identify numbers, write Chinese characters, grasp objects, and walk independently following activation.
In October, a 66-year-old woman who had been blind for eight years underwent a procedure involving implantation beneath the choroid in the macular region. Nanochap said she progressed from having only faint light perception to tracing numbers, letters and Chinese characters, grasping objects and completing a walking test without assistance.
These outcomes were reported by the company rather than through independently verified clinical data or detailed trial results.
Developing a proprietary technology platform
Nanochap says its development strategy is built around an integrated technology platform covering chip design, precision electrodes, microelectromechanical systems (MEMS) manufacturing, packaging, algorithms, and system integration.
The company says this vertically integrated approach has enabled it to develop core components in-house, reducing its reliance on external suppliers for critical technologies.
Its retinal system is now progressing through clinical trials, while the higher-resolution visual cortex implant remains at the research stage. The company believes that increasing the number of stimulation channels and improving neural signal encoding could eventually deliver more detailed visual perception.
Gaorong Ventures, the lead investor, said visual restoration could address a substantial unmet medical need. The World Health Organization estimates that approximately 2.2 billion people globally have some form of vision impairment, including at least 43 million who are blind.
Investors see visual BCIs as a potential intersection of neuroscience, semiconductor manufacturing and biomedical engineering, with the prospect of developing technologies that could eventually benefit patients who cannot be treated using conventional methods.
Nanochap’s latest funding will support its continued development of retinal and visual cortex interfaces as it seeks to advance its technology from clinical research toward broader medical applications.
Source:
IPO Early Insights
