Understanding cellular electrical communication is of growing interest in stem cell biology. Electrical properties have been linked to specification and differentiation of stem cells into targeted progeny such as neurons and cardiomyocytes. Basic research at the tissue level of the heart and brain electrical activity has led to the development of tools to treat various ailments, such as pacemaker and deep brain stimulation electrodes for the treatment of cardiac arrhythmias and Parkinson’s disease respectively. Currently, there is a critical need and tremendous interest in developing new ways to complement fluorescent indicators such as voltage and Ca²⁺-sensitive dyes, for direct electrophysiological measurements of cells and tissue. Graphene, a honeycomb sp² hybridized two-dimensional (2D) carbon lattice is a promising bioelectronic building block due to its outstanding electrical conductivity (charge carrier mobility up-to 200,000 cm² V^-1 s^-1), mechanical flexibility, and optical properties (optical transmittance of ~97.7%). Here we report a unique transparent graphene-based electrical platform that enables concurrent electrical and optical investigation of ES-derived cardiomyocytes’ intracellular processes and intercellular communication. The graphene-based bioelectronics platform is also shown to be biocompatible in terms of adhesion, viability and cell stress. Our presented approach will greatly impact our basic understanding of signal transduction in complex cellular assemblies, and create new avenues for bidirectional communication (sensing and stimulation) with electrically active tissues. The developed nanomaterials-based measurement platform will set the ground for further investigations of the relationship between electrical signals and reported diseases such as Alzheimer, Parkinson’s disease and Arrhythmias.