The rival of Elon Musk's brain-computer company, BrainCo, is reported to be preparing for a listing in Hong Kong or the Chinese mainland and seeking pre-IPO financing at a valuation of over $1.3 billion.

According to Bloomberg, BrainCo is in talks to raise funds at a valuation of over $1.3 billion and may conduct an initial public offering (IPO) in Hong Kong or the Chinese mainland later. People familiar with the matter said that the company, founded in 2015 by Harvard alumnus Han Bicheng, is in talks to obtain about $100 million in pre - IPO financing.

People familiar with the matter said that the startup has begun preparing listing documents, but the listing location or other details have not been determined. Discussions about financing and the IPO are still full of uncertainties, and specific details may change according to market conditions. Representatives of BrainCo have not responded to requests for comment.

BrainCo was founded in 2015 by Harvard alumnus Han Bicheng and competes with Neuralink, a brain - computer interface company under Elon Musk. BrainCo is among the so - called "Six Little Dragons" in Hangzhou, along with companies like DeepSeek, and is committed to developing bionic limbs and technologies related to human brain - controlled computers.

As the first unicorn in the brain - computer interface field in China, BrainCo is committed to breakthroughs in the underlying technologies of brain - computer interface technology. By establishing a signal transmission path between the brain and external devices to achieve information exchange between the two, it provides solutions for the rehabilitation of the disabled and brain diseases such as autism. Currently, several products have been launched on the market.

In the future, BrainCo will continue to focus on the non - invasive brain - computer interface field and provide solutions for diseases such as depression and Alzheimer's disease.

In July this year, BrainCo launched a new generation of bionic smart hand, Revo2, at the 2025 World Artificial Intelligence Conference. This product combines ergonomic design, weighs only 383 grams, has dimensions of 16 * 7.6 cm, can achieve an operation accuracy of 0.1 mm, and has a grip strength of up to 50N.

Revo2 is suitable for multiple scenarios such as home services and industrial applications through its multi - modal tactile sensors and multiple protection mechanisms. Its tactile system can accurately sense the hardness, texture, and force direction of objects, further promoting the development of the embodied intelligence industry.

BrainCo is committed to non - invasive brain - computer interface technology, has more than 250 core patents, and has achieved mass production of 100,000 products.

In April this year, Chief Executive Li Jiachao led a delegation to visit Hangzhou and interacted with Han Bicheng. During the meeting, Han Bicheng expressed the hope to strengthen exchanges and cooperation with Hong Kong. Li Jiachao immediately said that the SAR government would assist. While helping BrainCo expand into the international market, they can also promote the development of innovation and technology in Hong Kong.

On June 27, the Hong Kong Special Administrative Region Government announced the list of members of the new Chief Executive's Advisory Group. A total of 34 members were appointed this time. Among them, Han Bicheng, an expert in the field of brain - computer interface and the founder and CEO of BrainCo, was appointed as an advisor in the "Innovation and Entrepreneurship" field. He is also one of the three newly added members this time. The other two are Zhu Min, the former deputy managing director of the International Monetary Fund (IMF), and Wang Xingxing, the founder of Unitree Robotics.

From July 9th to 11th, Hong Kong Chief Executive Li Jiachao met with members of the new Chief Executive's Advisory Group for three consecutive days to listen to opinions on the Policy Address and the overall development of Hong Kong. He pointed out that the new members specially came to Hong Kong to attend the meeting. During the exchange, they said that Hong Kong has the geographical advantage of "connecting internally and externally", a complete education and research system, and an institutional environment for free capital flow, which is very attractive in terms of attracting mainland enterprises to list in Hong Kong and using Hong Kong as a gateway to the international market.

Li Jiachao also took this opportunity to encourage more science and technology innovation enterprises to use Hong Kong as a hub to accelerate their international layout and promote a development pattern where "listing in Hong Kong" and "going global" complement each other.

Han Bicheng said that as an international financial and scientific research hub, Hong Kong combines policy openness and talent diversity, providing a unique environment for the implementation and internationalization of cutting - edge technologies such as brain - computer interfaces. He hopes to conduct more in - depth cooperation with Hong Kong in fields such as medical rehabilitation in the future, promote urban development through technology, and let cutting - edge technologies truly serve people's daily lives.

From August 2nd to 4th, the 2025 Entrepreneurs' Sun Island Annual Conference with the theme of "New Quality Productivity: New Manufacturing, New Consumption, New Ecology" was held in Harbin. At the main forum held on the 3rd, Han Bicheng, the founder and CEO of Zhejiang BrainCo Technology Co., Ltd., delivered a keynote speech, saying that brain - computer interfaces have great application potential, will benefit the public in many application fields, and bring more possibilities to life.

Han Bicheng said that brain - computer interfaces have gradually evolved from laboratory research to a key technology that affects people's daily lives. In the future, brain - computer interfaces can make people's brains "transparent" and know what is going on in people's minds. Recently, China has also increased its investment in brain science, especially in the field of brain - computer interfaces, and launched its own "Brain Project".

According to the statistics of the China Disabled Persons' Federation, there are more than 24 million people with physical disabilities in China, and many of them have trouble moving. Han Bicheng said that BrainCo has been established for about 10 years. The core product of the company is a super sensor, which can detect very weak information in the human brain without craniotomy and convert this information into neural signals that can be used for treatment and external control. In addition to developing these neural auxiliary products, it will also develop neuroscience products that can help the public sleep better through neural regulation.

Han Bicheng said that currently, the products produced by the company can help disabled people without hands or feet install neurally - controlled prosthetics, enabling them to run, walk like normal people, and even perform high - difficulty sports. In the next 5 to 10 years, the company will also help 1 million people with physical disabilities regain their freedom of movement and start a new life, and help 10 million patients suffering from brain diseases such as Alzheimer's disease, autism, and insomnia recover.

This article is from the WeChat public account "Unicorn Early Knowledge", author: iponews Studio. Republished by 36Kr with permission.