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.
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.
Neuralink first registered as a California company in 2016, although Musk only discussed the company in public the following year. Musk said Neuralink could relieve conditions ranging from depression to traumatic brain injury, and according to scientists, it is likely.
Vy Capital was founded by Alexander Tamas, a former partner at DST, the investment firm founded by billionaire Yuri Milner. Other investors in the Neuralink round include Alphabet Inc. see GV, Founders Fund and Craft Ventures.
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