Neuralink Competitor Raises $20 Million for Brain Implants

A competitor to Elon Musk’s Neuralink said it raised $20 million, enough to get it on track to introduce a new generation of powerful and tiny electrodes to the human brain.

Paradromics Inc., founded in 2015 about a year ahead of Neuralink, is building brain-computer interfaces that could help people with disorders ranging from paralysis to speech impediments.

“Once you start to realize that the best way to describe the brain is through data, you start to reframe a lot of classically hard-to-treat conditions,” said Matt Angle, chief executive officer of Paradromics. “What the brain really is—it’s a data system.” For example, where ...