Amsterdam-based neurotechnology firm Phosphoenix has secured €1.3 million in a new funding round. The investment round saw participation from existing backers, including TTT Medtech Fund, FIRST Fund, and Innovatiefonds Noord-Holland, alongside a new contribution from ROM InWest.
The company, a 2019 spin-off from the Netherlands Institute for Neuroscience, is developing a neuroprosthetic system designed to restore functional vision. The technology uses the proprietary Fountain Probe, which features over 1,000 microelectrodes to stimulate the lateral geniculate nucleus in the brain.
The system operates by bypassing damaged retinas or optic nerves. Users wear camera-equipped glasses that transmit video to a pocket processor, where AI converts footage into electrical stimulation patterns. This process creates artificial light perceptions known as phosphenes.
Phosphoenix plans to utilize the new capital to prepare for its first-in-human clinical study, which will be conducted in collaboration with Amsterdam UMC. The company is also currently preparing for a Series A financing round to support its long-term clinical development program.
