Tether Invests $200M in Blackrock Neurotech via Newly Launched VC Arm, Tether Evo
Summary:
Tether, the company behind the world's largest stablecoin (USDT), has invested $200 million in Blackrock Neurotech, a global pioneer in brain-computer-interface (BCI) technology. The investment, facilitated by Tether's venture capital arm, Tether Evo, aims to fund the rollout of Blackrock's medical solutions, enhance its R&D, and maintain its leading position in the BCI sector. The investment comes as Tether restructured its business and introduced new divisions.
Tether, the company behind the world's most valuable stablecoin (USDT), has executed a significant investment after undergoing a business restructuring. On the 29th of April, it unveiled a strategic $200 million infusion into Blackrock Neurotech, thus acquiring a controlling stake in the neural implant firm. The financing was facilitated via Tether Evo, a recently launched venture capital arm of Tether.
Founded in 2008, Blackrock Neurotech has positioned itself as a global trailblazer in brain-computer-interface (BCI) technology, particularly recognized for their advanced brain-computer interfaces. The firm is dedicated to offering support to countless individuals globally who are suffering from paralysis, loss of function, and neurological disorders inhibiting their abilities to walk, see, hear, feel, or converse.
Thanks to Blackrock Neurotech's pioneering brain interface technology, patients have been able to operate prosthetic arms, maneuver wheelchairs, send messages, browse the internet, and even drive cars using the force of their thoughts. In a highlight event in 2016, Nathan Copeland, a patient utilising Blackrock Neurotech’s BCI, was spotlighted when he remotely controlled a robotic arm to fist bump then-President Barack Obama.
Tether's investment of $200 million is slated to finance the commercialization and launch of medical innovations already successfully deployed in over 40 individuals. Besides, it is expected to elevate Blackrock Neurotech’s R&D and retain its prominence as a future BCI contender, with a long-term viewpoint on human evolution.
Paolo Adrdoino, Tether's CEO, believes that Blackrock Neurotech is only the starting point of Tether Evo’s campaign to back ventures which "push the envelope at the crossroads of tech innovation and human potential.” Adding further, he states that "Blackrock Neurotech symbolizes a step towards a future where technology doesn’t merely echo but enhances our human experience, and we at Tether are honored to embark on this journey with them.”
Florian Solzbacher, Blackrock Neurotech co-founder, appreciates that Blackrock Neurotech’s mission to restore functionalities in humans is protracted and requires spirited and visionary collaborators.
In related news, recently on April 18th, Tether announced the introduction of four new business subdivisions, emphasizing diverse business aspects, namely Tether Data, Tether Finance, Tether Power, and Tether Edu.
Published At
4/29/2024 4:00:00 PM
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