2024-04-29 10:24:14 ET
Tether has announced a $200 million investment in Blackrock Neurotech, a leading Brain-Computer-Interface (BCI) technology company.
The strategic investment, completed via Tether’s newly-launched venture unit Tether Evo, means the stablecoin issuer is now the majority stakeholder in Blackrock Neurotech, according to details in a press release .
Tether invests in BCI-company Blackrock Neurotech
Dr. Florian Solzbacher and Marcus Gerhardt, pioneers in the Brain-Computer-Interface (BCI) space, founded Blackrock Neurotech in 2008.
The company has grown into a top biotech firm whose technology in neuroscience, neural engineering and neural prosthetics has helped millions of people walk, see, hear and talk. Today, its innovations around the brain interface has helped bring robotic arms and maneuvoured wheelchairs to millions.
Per today’s announcement, Blackrock Neurotech will use the $200 million investment from Tether to commercialize and roll-out its medical solutions. It will also use the funding to boost its R&D efforts as it targets long term growth as a leading BCI company.
“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. 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 Neurotech co-founder Florian Solzbacher commented.
Tether CEO Paolo Ardoino noted that the investment in Blackrock Neurotech marks the beginning of a new chapter via its venture arm Tether Evo. The USDT issuer envisions investing in more projects that bring out the best of “technological innovation and human potential,” the Tether CEO said.
Ardoino added:
“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.”
Tether’s expansion beyond stablecoins
The investment in Blackrock Neurotech represents Tether’s latest venture as it expands its reach beyond the stablecoin market. Its Tether (USDT) is the largest stablecoin by market cap, currently at $110 billion.
With the recently unveiled Tether Evo, the company seeks to bolster projects at the intersection of technological innovation and human potential.
Meanwhile, Tether Power is aimed at promoting developments in the sustainable energy space, and Tether Edu advances Tether’s footprint in the education sector.
Tether is also heavily invested in artificial intelligence (AI) and P2P technology via Tether Data.
The post Tether invests $200 million in biotech firm Blackrock Neurotech appeared first on Invezz
