Tuesday, September 28, 2021

Elon Musk’s brain-computer startup Neuralink raises $ 205 million

By Sarah McBride | Bloomberg

Neuralink, the futuristic brain-computer-interface company founded by Elon Musk, said it supported $ 205 million in fresh business, by far the biggest draw of any company in its field.

Neuralink said in a blog post on Thursday that the Dubai-based company Vy Capital led the latest round of financing. This comes two years after the documentation showed Neuralink had raised $ 51 million in a previous round.

The funds will help Musk’s, Neuralink, in Texas, Texas, work on the brain implant for quadruple beds, a device that can help other people with neurological disorders over time. The technology could help provide patients with ‘digital freedom’ by enabling them to communicate with computers and telephones ‘in a high-bandwidth and a neutral way’, according to the announcement.

The next big step for Neuralink is clinical trials on human devices, which have so far been played in pigs and a monkey in the Pong.

“It’s a bet on cool tech meet Elon,” said Robert Nelsen, co-founder of Arch Venture Partners, which participated in the round. A very hard, but very big vision. ‘

Neuralink has yet to announce human trials, though one of its competitors, Synchron, just announced early trials this week for its own brain-computer interface.

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In seven months in 2021, it has already become a record year for brain-computer interface funding. A few days ago, Paradromics said it had raised $ 20 million. With the exception of the round and the latest Neuralink funding, brain-computer interface companies raised $ 132.8 million this year. According to PitchBook data, by 2021, the $ 97 million raised over the past year, including the latest rounds of funding, has tripled.

Elon Musk's brain-computer startup Neuralink raises $ 205 million
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