Neuralink, a startup founded by Elon Musk, has announced that it has raised $650 million in a new funding round. Investors include well-known venture funds, including ARK Invest, Sequoia Capital, Founders Fund, Thrive Capital, and Lightspeed Venture Partners.
The company will use the funds raised to expand access to its technology for new patients and to develop new devices that should deepen the interaction between biological and artificial intelligence.
Neuralink is developing a brain-computer interface (BCI) that translates neural signals into digital commands. Its first system, called Telepathy, involves 64 ultra-thin “threads” that are implanted in the brain. They record neural activity through more than a thousand electrodes. As of early June, the device had been implanted in five patients. Neuralink is currently conducting four clinical trials of Telepathy.
BCI technology has been under scientific investigation for many years, and the company's competitors include Synchron, Paradromics, and Precision Neuroscience. Incidentally, Paradromics this week announced the successful implantation of its device in a human.
Neuralink is also working on a system called Blindsight, which could potentially restore vision to those who have lost their eyes and optic nerves. The device has received “breakthrough development” designation from the FDA, which speeds up the approval process.
Despite the significant achievements, the company still has many steps to go before mass commercialization of its devices. However, Musk remains optimistic and has even stated that he is ready to implant the device himself.
As a reminder, in November 2024, Neuralink received permission to test its brain implant in Canada.