The Index
400 dossiers
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
| The softest neural interface on the planet with zero chronic human data — a genuine materials-science lead wrapped around an unproven clinical thesis and a behind-the-pack regulatory position; a WATCH, not a bet, until a Fleuron probe records cleanly past 90 days in a living brain. | — | 1 | |
| The only at-scale, FDA-cleared, revenue-bearing non-invasive BCI franchise heading to a public listing — but it is a Chinese military-civil-fusion controversy with a confidential HK IPO, no public financials, and a US national-security cloud, so it is un-investable on a US/UK book until it trades and discloses. | — | 1 | |
| A non-invasive, AR-first AAC headset with a real FDA-Breakthrough wedge and two distribution partners — but at a ~$25–46M valuation after 12 years and ~$25–32M raised, it is a mission-driven research-tools / assistive-device niche player, not a venture-scale BCI bet; the asymmetry is acquisition-by-a-giant, not an IPO. | — | 0 | |
| The only European bidirectional-BCI in US human trials, backed by the BioNTech family office (Santo/Strüngmann) — a Breakthrough-Device, stroke-rehab-first asset that is structurally early and structurally under-capitalised; WATCHING for the funding round that proves the Strüngmanns will write a BioNTech-scale cheque, not just an option. | — | 8 | |
| The most-cited consumer-EEG brand in research, now repricing itself as "cognitive AI infrastructure" — but 23 years in, ~$10M ever raised, and a Chilean supreme-court delete order make it the BCI category's pioneer that capital forgot, not its winner. WATCHING — a be-early IPO-readiness name, not yet investable. | — | 8 | |
| Forest is a nonprofit research instrument, NOT an equity — the tradeable BCI bet it incubated walked out the door as Merge Labs (Altman/OpenAI, $850M); track Forest as the science-de-risking front-end, position via Merge or Butterfly (BFLY), never Forest itself. | — | 8 | |
| The profitable, un-hyped grandfather of non-invasive BCI — a 27-year Austrian bootstrap that quietly owns the research-EEG install base and is turning recoveriX neurorehab into a franchise annuity; a real cash-flowing business but NOT a tradeable IPO candidate (no venture capital, ~$24M est. value, founder-owned), so it is a WATCH-the-category tell, not a position. | — | 8 | |
| The best-positioned European BCI pure-play and the only graphene-native one — but it is a Series-B, pre-revenue spin-off two full funding rounds behind Neuralink/Precision, and its material moat is unproven precisely where its closest competitor (Precision's Layer 7) already has FDA clearance; a watch-and-wait private, not yet investable, gated on a Series C + a graphene-specific regulatory de-risking event. | — | 8 | |
| A genuinely good optical-imaging instrument company wearing three failed business models — capital-starved ($158M total, no priced round since Dec-2023) and IPO-irrelevant while the rest of BCI raises billions; WATCHING, not investable, until a real revenue line or a strategic acquirer appears. | — | 8 |