Elon Musk’s biotechnology company Neuralink has raised US$650 million in funding, as the race to produce brain interface technology heats up.
The company, which specialises in brain implants that control external devices, was reportedly valued at US$9 billion before the new funding. The Series E funding round included investors like ARK Invest, Sequoia Capital, and Valor Equity Partners.
“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 wrote.
Neuralink said that it had implanted its technology into five people with severe paralysis, to allow them to control devices with their thoughts. It has also begun clinical trials in the United States, Canada, and the United Arab Emirates.
Its brain-computer interface implant records brain activity through 1,024 electrodes, before transferring the data to external digital devices using Neuralink’s software.
Competitor company Paradromics said yesterday that it had implanted a similar chip into a human patient for the first time, and aims to start clinical trials later in 2025. Paradromics’ Connexus Brain-Computer Interface is awaiting regulatory approval in the U.S.
Another rival, Precision Neuroscience, received approvals for part of its brain implant system in April, while Starfish Neuroscience plans to produce its first brain chips later this year.
Musk, who founded Neuralink in 2016, said last week that he would formally exit his U.S. government advisory role to resume his focus on companies like Neuralink, Tesla, and SpaceX. However, U.S. President Donald Trump has said Musk’s Department of Government Efficiency initiative will continue to operate, and that Musk will be “back and forth” with the White House in the future.
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