China bet $1B on BCI in 6 months. Who got the money?
China's brain-computer interface sector recorded 47 funding rounds in the first half of 2026, 38 of them disclosing terms for a combined RMB 5.38 billion (approx. $750 million). A broader tally used by Chinese financial media puts the total at 64 deals and roughly RMB 7.25 billion (approx. $1 billion). Either figure is more than double the whole of 2025 (49 deals, RMB 2.72 billion) at a comparable deal count. The record lists every deal by month — company, technical approach, round, amount, investors — and identifies three structural patterns: ultrasound and non-invasive approaches moving quickly into a field long defined by implants, Big Tech and municipal state funds entering at the same time, and nearly half of all transactions still sitting at angel or seed stage.
Why it matters
The half-year total is already circulating abroad as shorthand for how fast China's BCI sector is scaling; itemising it deal by deal shows what the aggregate hides — 55% of transactions are pre-Series A, a single round accounts for more than a third of disclosed capital, and the one company holding a world-first regulatory approval for an implantable BCI has yet to book any revenue from implants.