Neuralink Raises $650 Mn to Advance Brain Implant Clinical Trials
Five patients with severe paralysis are now using Neuralink's brain-computer interface.
Neuralink, the brain-computer interface startup founded by Elon Musk, has raised $650 million in its latest funding round, the company announced Monday.
The fresh capital will support the development and clinical rollout of its brain implant device, which is currently being tested in three countries.
"This funding helps us bring our technology to more people — restoring independence for those with unmet medical needs and pushing the boundaries of what's possible with brain interfaces," Neuralink said in a statement.
Brain Implant Enters Clinical Trials
Neuralink's device features a chip designed to process neural signals and transmit them to digital devices, enabling users to control them with their thoughts.
As of now, five patients with severe paralysis are using the technology to control both physical and digital devices.
Recent regulatory milestones bolster the company's progress. Last month, Neuralink received the U.S. Food and Drug Administration's (FDA) breakthrough device designation for its speech restoration system and previously for its vision-restoring device.
This designation aims to expedite the development and review of innovative medical technologies that can offer more effective treatment options for debilitating conditions.
Strong Backing from Leading Investors
The latest funding round drew participation from high-profile investors, including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital.
According to Semafor, the company was previously valued at $9 billion following a $600 million raise before this new injection of funds.
The announcement follows Elon Musk's decision to step down as special adviser to former U.S. President Donald Trump as he refocuses on his companies, including Tesla, SpaceX, xAI, Neuralink, and social media platform X.
Media reports also indicate Morgan Stanley is seeking a $5 billion debt package for xAI, with the company targeting a $113 billion valuation.
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