Elon Musk’s neurotechnology company, Neuralink, has successfully raised $650 million in its Series E funding round. The investment will support the company’s efforts to expand patient access and develop new devices that enhance the connection between biological and artificial intelligence.
The funds will be utilized to expand patient access by accelerating the deployment of Neuralink’s brain implant technology to a broader patient base. Also to develop future devices by innovating new devices that deepen the connection between biological and artificial intelligence. As well as to enhance clinical trials by supporting ongoing clinical trials and research initiatives.
Neuralink’s brain implant technology is currently being tested in patients with severe paralysis across three countries. The device enables users to control digital and physical devices using their thoughts. The company has received the U.S. Food and Drug Administration’s (FDA) “breakthrough” designation for its speech restoration device, adding to a similar designation previously received for its vision-restoring device.
The Series E funding round attracted several prominent investors, including: ARK Invest, Sequoia Capital, Thrive Capital, DFJ Growth, Founders Fund, G42Human Capital, Lightspeed, QIA, Valor Equity Partners, and Vy Capital. This diverse group of investors underscores strong confidence in Neuralink’s mission and potential.
Prior to this funding round, Neuralink’s valuation was reported to be approximately $9 billion.
With the successful completion of the Series E funding round, Neuralink is poised to accelerate its efforts in developing advanced brain-computer interface technologies. The company’s progress in clinical trials and the support from esteemed investors position it as a leader in the emerging field of neurotechnology.
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