Chinese Neuralink Rival BrainCo Files for Hong Kong IPO, Sources Say

BrainCo has confidentially filed for an initial public offering in Hong Kong, Bloomberg reported. The company is part of the “Hangzhou Six,” a group of emerging tech startups from the city that includes DeepSeek. Sources said the listing could raise several hundred million dollars, with CICC and UBS Group working on the share sale.

Founded in 2015, BrainCo develops non-invasive brain-computer interface (BCI) technologies, competing with US firms like Neuralink but without using implants. The filing follows a reported 2 billion yuan ($287 million) financing round co-led by IDG Capital and Walden International. [Bloomberg]