Neuralink, a neurotechnology company co-founded by Elon Musk, has announced the completion of a $650m Series E funding round to advance its brain interface technology.
The funding will support ongoing clinical trials and expand access to the company’s technology.
Investors in this round include ARK Invest, Founders Fund, DFJ Growth, G42, Lightspeed, QIA, Human Capital, Sequoia Capital, Valor Equity Partners, Thrive Capital, and Vy Capital. These funds will assist Neuralink in its objective to restore autonomy to individuals with severe medical needs through brain-computer interfaces.
Neuralink stated: “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.”
Since its Series D round in August 2023, Neuralink has integrated its technology with five individuals who have severe paralysis. These participants can now control digital and physical devices using thought alone.
The company has launched clinical trials at various global neurosurgical centres, including Barrow Neurological Institute and The Miami Project to Cure Paralysis at the University of Miami. These trials span multiple countries and continents.
Neuralink has also initiated the CONVOY trial and received the US Food and Drug Administration’s (FDA) breakthrough device designation for its vision and speech restoration devices, facilitating expedited development processes.
The company is focused on developing whole-brain interfaces that enhance interaction between biological and artificial intelligence (AI). This involves methodologies that surpass traditional techniques like electroencephalography (EEG) and functional magnetic resonance imaging (fMRI).
Neuralink’s surgical procedure involves implanting a device into the brain through minimally invasive techniques overseen by certified neurosurgeons, aiming for minimal disruption to brain tissues while providing high-resolution interaction capabilities.
