Tether Acquires Majority Stake in Blackrock Neurotech

Tether announced it invested $200 million to acquire a majority stake in Blackrock Neurotech, a brain-interface company....
Tether Acquires Majority Stake in Blackrock Neurotech
Written by Matt Milano
  • Tether announced it invested $200 million to acquire a majority stake in Blackrock Neurotech, a brain-interface company.

    Blackrock Neurotech was founded in 2008 and is one of the leaders “in the neuroscience, neural engineering, and neural prosthetics space.” Tether touts the significant achievements Blackrock Neurotech has already been able to accomplish.

    Through Blackrock Neurotech’s innovative brain interface technology, patients have operated robotic arms, maneuvered wheelchairs, sent messages, surfed the web, and even driven a car – all with just the power of their thoughts; Blackrock Neurotech’s devices have demonstrated capability of achieving thought to text communication at speeds of up to 90 characters per minute for typing or 62 words per minute direct speech encoding.

    In 2016, Blackrock’s patient Nathan Copeland made headlines when he used his Blackrock BCI to control a robotic arm and fist bump U.S. President Barack Obama. With the implants in his sensory cortex, Nathan was even able to “feel” the President’s hand. In other patients, Blackrock’s technology has been used to decode entire words and sentences from brain signals to give a voice to those who have lost their ability to speak due to neuromuscular disease or injury.

    Tether says its investment will primarily help the neuroscience firm commercialize and roll out its technology, as well as boost the company’s R&D.

    “Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential. Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement,” said Paolo Ardoino, CEO of Tether. “Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them.”

    “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.”

    “Blackrock will change the life of millions of patients seeking solutions, and ultimately has the potential to change the life of all of us,” added Tim Sievers, Co-Chairman of Blackrock Neurotech. “We welcome Tether as new investors and partners and are looking forward to defining and creating the future together. ”

    Get the WebProNews newsletter delivered to your inbox

    Get the free daily newsletter read by decision makers

    Advertise with Us

    Ready to get started?

    Get our media kit