Neuralink, the brain-computer interface company owned by Elon Musk, has recently secured an additional $43 million in venture capital, as per a filing with the US Securities and Exchange Commission (SEC).
This new funding round comes after a previous one in August, led by Peter Thiel’s Founders Fund, which increased the company's funding from $280 million to $323 million. According to TechCrunch, this recent infusion saw participation from 32 investors.
Although Neuralink hasn’t disclosed its current valuation, reports from June suggested a valuation of approximately $5 billion based on privately conducted stock trades.
Established in 2016, Neuralink has developed a device akin to a sewing machine, capable of implanting ultra-thin threads within the brain. These threads are connected to a specialized chip featuring electrodes designed to gather data from neuron groups.
In September, Neuralink announced its recruitment drive for the first human trials. These trials aim to assist individuals with paralysis in controlling devices. The company obtained approval from an independent institutional review board and the initial hospital site to commence recruitment for their "PRIME Study" (Precise Robotically Implanted Brain-Computer Interface).
Neuralink's statement highlighted the study's objectives: evaluating the safety of their implant (N1) and surgical robot (R1), and assessing the preliminary functionality of their wireless brain-computer interface. This technology is intended to enable individuals with paralysis to control external devices using their thoughts.
(With Agency Inputs)
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