Neuralink, Musk's brain chip company, raises $650 million in funding: what will the funds be used for?
Elon Musk's company Neuralink has raised $650 million in its latest funding round as clinical trials of its brain implant begin.
Elon Musk's company Neuralink has raised $650 million in its latest funding round as clinical trials of its brain implant begin.
“This funding will help us make our technology accessible to more people — restoring independence for those with unmet medical needs and expanding the boundaries of what is possible with brain interfaces,” Neuralink said.
Clinical trials of the device have already begun in three countries, Reuters reports . Five patients with severe paralysis are also using Neuralink to control digital and physical devices with the power of their thoughts.
In January 2024, Neuralink first implanted a brain implant into a 29-year-old man named Nolan Arbo, who is paralyzed from the neck down. The chip allowed him to play video games, browse the Internet, and move the cursor on a laptop using his mind. In August, the chip was implanted into a second patient who had a spinal cord injury. The third patient was Brad Smith, who cannot communicate verbally due to illness. With the help of the chip, he was able to edit and voice over videos for YouTube.
Last month, Neuralink received a “breakthrough” designation from the U.S. Food and Drug Administration for its speech restoration device. In 2024, the company received the same designation for its vision restoration device.
Neuralink, valued at $9 billion, has closed a funding round with key investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital, the company said.
Neuralink is working on technology that will allow you to control a robotic arm with the power of your mind
Neuralink is working on technology that will allow you to control a robotic arm with the power of your mind
Startup Paradromics first implanted its brain implant in a patient. It was removed after just 10 minutes
Startup Paradromics first implanted its brain implant in a patient. It was removed after just 10 minutes
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