Neuralink raises $650M through Series E funding round

Neuralink, a neurotechnology company founded by Tesla (NASDAQ:TSLA) CEO Elon Musk, raised $650M through its latest Series E funding round.

Neuralink designs brain-computer interfaces that can be surgically implanted. These implants allow the user to control electronic devices, such as smartphones or computers, with their thoughts alone. The technology is intended to help people with paralysis or other debilitating neurological conditions the ability to gain more autonomy and independence.

Key investors from the latest funding round included ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital.

Before this latest funding round, Neuralink was valued at $9B.

The company also revealed that five patients with severe paralysis are now successfully using a Neuralink implant to control digital and physical devices with their thoughts. It is also running a series of clinical trials at research facilities around the world, including Barrow Neurological Institute, The Miami Project to Cure Paralysis at the University of Miami, University Health Network (Toronto Western Hospital) and Cleveland Clinic Abu Dhabi.

Neuralink is attempting to acquire Breakthrough Device Designation by the U.S. Food and Drug Administration for a vision and speech restoration program utilizing Neuralink technology. The Breakthrough Devices Program is a voluntary program for certain medical devices and device-led combination products that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The FDA processes these request within 60 days of submission.

Musk also runs Starlink (STRLK), SpaceX (SPACE), xAI and X.