Alibaba and Tencent have backed a 500-million-yuan (about $73 million) strategic financing round in Shanghai-based brain-machine interface (BMI) startup StairMed, according to an announcement.
The round was led by Alibaba, with existing investors Tencent, FountainBridge Capital, OrbiMed, Oriza Seed, Qiming Venture Partners, Lilly Asia Ventures, and Source Code Capital also participating.
StairMed said the latest raise brings its total funding over the past year to more than 1.1 billion yuan. It did not disclose the valuation.
Established in August 2021, StairMed specialises in implantable brain-computer interface technology.
The Shanghai-based firm engages in the research and development of neural interfaces, the development of implantable brain-computer interface platform systems, and clinical translation of related scientific research results, according to the company website.
The company is preparing to launch multi-centre registration clinical trials for its invasive BMI system in mid-2026, with plans to enrol and implant around 40 patients within the year.
By the end of 2026, cumulative implants are expected to reach several dozen, the company said.
“BMI is not only an emerging medical technology, but also a point of convergence between life sciences and information technology,” said StairMed founder Li Xue.
The partnership, Xue added, will enable StairMed to co-develop next-generation intelligent BMI systems and cutting-edge application ecosystems.
“This is more than an investment in medical innovation; it is a strategic bet on the long-term potential of human-machine interaction,” Xue said.
The startup added that it had completed three clinical implants of its BMI system last year. Earlier this year, it used its surgical robot to implant its 256-channel wireless invasive BMI system, known as WRS02, as part of the registration process.
The company said this marked the first clinical trial of a 256-channel invasive BMI device in China.
StairMed also said its product is the only invasive BMI system in China to have entered the National Medical Products Administration’s green channel for innovative medical devices, a pathway intended to speed up regulatory review for novel products.
StairMed last raised about $48.3 million in its Series B funding round in February 2025, led by several healthcare-focused investors, including Qiming Venture Partners, OrbiMed Healthcare Fund Management, and Lilly Asia Ventures.
The Series B round comes over two years after StairMed completed its Series A round in December 2022, roping in OrbiMed Healthcare Fund Management and Oriza Seed as lead investors.
