Where is neurotech money really flowing, and what do the numbers say about where the industry is heading next? In this episode of The Business of Neurotech, host Adam Fraser sits down with Naveen Rao, founder of Patchwise Labs, curator of Neurotech Futures, and Forbes contributor covering neurotechnology’s impact on business and society. In their conversation, Naveen shares how a career spanning public health, health policy, advocacy, and healthcare analysis led him into neurotech and explains why he now sees the field as one of the most important and fast-moving frontiers in healthcare. Adam and Naveen unpack how he defines the sector, what stood out in his 2025 funding analysis, and why brain-computer interfaces continue to attract so much capital. They also discuss where other momentum is building across neuromodulation and consumer neurotech, and how artificial intelligence is shaping both the companies being built and the capital flowing into them. Tune in for a look at the aspects shaping neurotech now and in the future.

Key Points From This Episode:

• [01:20] How Naveen’s background led him to neurotech and founding Patchwise Labs.
• [04:43] Learn about his goal with Neurotech Futures and how it fits within Patchwise Labs.
• [08:42] Hear why Naveen sees Substack as a strong platform for writers.
• [09:41] Explore how he defines the neurotech space, and he sees it as a mixed space.
• [11:27] Find out how he keeps up with the latest neurotech news and developments.
• [13:50] Unpack the main takeaways from Naveen’s 2025 neurotech funding snapshot.
• [17:09] Why brain-computer interfaces (BCI) continue to attract a large share of funding.
• [20:54] Understand why BCI may be seen as the ultimate platform play in neurotech.
• [22:34] Naveen highlights the latest tech trends and news in neurotech.
• [25:44] The line between consumer neurotech and regulated medical devices.
• [27:54] Discover what the 2025 funding data suggests about the top neurotech sectors.
• [30:03] Whether the AI funding boom could affect capital available for neurotech.
• [34:41] His opinion on the potential of neurotech becoming a standalone investment category.
• [38:38] Uncover the potential impact of a major neurotech IPO on the mobilisation of capital.
• [40:37] Final takeaways and how to connect with Naveen.

Links Mentioned in Today’s Episode:

Naveen Rao on LinkedIn

Neurotech Futures

Forbes

Patchwise Labs

‘2025 Neurotech Funding Snapshot’

The Focused Ultrasound Foundation Newsletter

SetPoint Medical

Surf Therapeutics

NeuroPace

Adam Fraser on LinkedIn

Omniscient Neurotechnology

The Business of Neurotech Podcast