Elon Musk’s brain-tech venture, Neuralink, announced on Monday that it has secured $650 million in a new funding round, boosting its efforts to bring brain-computer interface technology to market.
The funding comes as the company begins clinical trials of its implantable device in three countries.
The device, which includes a chip capable of processing and transmitting neural signals to external devices like smartphones and computers, is already in use by five patients suffering from severe paralysis. According to Neuralink, these individuals are now able to control digital and physical devices using only their thoughts.
“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,” the company said in a statement.
Neuralink recently received a “breakthrough device” designation from the U.S. Food and Drug Administration for its speech restoration implant. It had earlier secured the same designation for a device aimed at restoring vision. The FDA’s breakthrough program is designed to accelerate the development and review of innovative medical devices for serious conditions.
The latest funding round drew participation from major investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital. Last month, Semafor reported that Neuralink had previously raised $600 million, valuing the startup at $9 billion before the latest investment.
Meanwhile, Musk has stepped down from his advisory role with former U.S. President Donald Trump to concentrate on his companies, which include Tesla, SpaceX, xAI, Neuralink, and social media platform X. Media reports also indicate that investment bank Morgan Stanley is seeking $5 billion in debt financing for xAI, which is aiming for a $113 billion valuation through a $300 million share sale.
Neuralink’s clinical milestones mark a significant step forward in merging human cognition with technology, as the company moves closer to making futuristic medical tools a reality.
