Neurotech innovator Beacon has pushed its total funding past $132 million with the initial tranche of its Series B round, led by Google Ventures, Catalio Capital Management, and General Catalyst.

The company’s flagship product, Waveband, is a sleek headband worn during sleep that uses six dry electrodes to capture EEG signals. These signals are analyzed by Beacon’s AI to assist in diagnosing sleep disorders such as narcolepsy.

The device aims to bring precision neuroscience into clinical trials, accelerating drug development. Beacon says its AI not only analyzes neural data but also provides clinicians and biopharma partners with objective measures of brain function. This approach is intended to advance research, improve diagnostics, and guide new treatments for neurological disorders including epilepsy and depression.

Major pharmaceutical players, including Bristol Myers Squibb, Novartis, and Takeda, already use the technology. In November 2025, Beacon and Takeda expanded a partnership from 2024, focused on at-home sleep monitoring for trials on sleep disorders. Under the expanded collaboration, the companies aim to speed up the development of sleep biomarkers and patterns to support new diagnostics and close care gaps for narcolepsy patients.

“This milestone reflects strong momentum behind our vision to make brain health measurable, scalable, and actionable,” said Beacon CEO Jacob Donoghue.

The EEG patient monitoring market is on the rise. GlobalData forecasts a growth rate of 1.8% CAGR, projecting the market to reach $25.9 billion by 2035, up from $21.4 billion in 2025. EEG monitoring systems are gaining traction due to their broad diagnostic applications and ability to deliver actionable clinical insights.