Neuralink Secures USD 650 Million as Brain Implant Trials Begin
Neuralink, the brain-computer interface company founded by Elon Musk, has raised USD 650 million in its latest funding round as it begins clinical trials for its brain implant device.
The company announced on Monday that the funding will support efforts to restore independence for people with unmet medical needs and advance brain interface technology.
Neuralink has launched clinical trials in three countries for its implant, which includes a chip capable of processing neural signals and transmitting them to computers or phones.
Five patients with severe paralysis are currently using the device to control digital and physical devices using only their thoughts, according to the company.
Last month, Neuralink received a "breakthrough" designation from the U.S. Food and Drug Administration for its speech restoration device. A similar designation was granted last year for its vision-restoring device.
The FDA’s breakthrough devices programme aims to accelerate the development and review of medical technologies that offer more effective treatment or diagnosis for life-threatening or irreversibly debilitating conditions.
Neuralink’s funding round included participation from major investors such as ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital.
Semafor reported last month that Neuralink had previously raised USD 600 million in a deal that valued the company at USD 9 billion before the latest funding.
Musk recently announced he would step down from his role as special adviser to U.S. President Donald Trump to focus on his companies, including Tesla, SpaceX, xAI, Neuralink and social media platform X.
Media reports on Monday indicated that Morgan Stanley is arranging a USD 5 billion debt package for xAI, which is seeking a USD 113 billion valuation in a USD 300 million share sale.
Neuralink raised USD 650 million as it begins clinical trials
Five patients with paralysis are using the device to control devices with thoughts
The FDA granted breakthrough status to Neuralink’s speech and vision devices
Source: REUTERS
