New York: Elon Musk’s brain-computer interface startup, Neuralink, has secured $650 million in its latest funding round, the company announced Monday, marking a significant milestone as it launches clinical trials for its cutting-edge implant technology.
“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 stated.
The company has initiated human trials in three countries for its neural implant — a chip capable of reading and processing brain signals to control external devices such as phones and computers. Neuralink reports that five individuals suffering from severe paralysis are now using the technology to operate both digital and physical devices using their thoughts alone.
Neuralink’s ambitious goals received a boost in credibility after the U.S. Food and Drug Administration (FDA) granted its speech restoration device a “breakthrough” designation last month — a fast-track status intended to accelerate the development and review of devices that can offer more effective treatment or diagnosis for life-threatening or irreversibly debilitating conditions. The company’s vision-restoration device also earned the FDA’s breakthrough tag in the previous year.
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The funding announcement comes amid renewed focus from Musk on his core ventures. Last week, he confirmed stepping down as a special adviser to former U.S. President Donald Trump to focus entirely on his businesses, including Tesla, SpaceX, xAI, Neuralink, and the social media platform X.
Meanwhile, reports on Monday indicated that Morgan Stanley is working to secure a $5 billion debt package for xAI, Musk’s artificial intelligence firm, which is also pursuing a $300 million share sale targeting a valuation of $113 billion.
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Neuralink’s $650 million funding round attracted prominent investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, the Qatar Investment Authority (QIA), Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital.
According to a previous report by Semafor, Neuralink had already raised $600 million at a valuation of $9 billion prior to the most recent capital injection.
