Elon Musk’s Brain-Interface Startup NeuralInk has just raised a fresh $650 million funding, the company announced Monday.
Supporters include Ark Invest, Founders Fund, Sequoia Capital, Thrive Capital and Lightspeed Venture Partners. Neuralink said the new cash will help more patients try to get their brain chips, or rather their heads, and in the company’s terms, help build devices that “deepen the relationship between biological and artificial intelligence.”
“This funding will help bring our technology to more people. Withdrawal of people with unmet medical needs, pushing the boundaries of what is possible at the brain interface,” Neuralink said in a blog post.
Bloomberg reported in April that Neuralink is planning to raise approximately $500 million in new funding with a $8.5 billion pre-money valuation to support the expansion of brain computer interface technology.
NeuralInk is working on something called the Brain Computer Interface (BCI), which allows brain activity to control external devices. It’s a field that has seen decades of research, but startups are now pushing beyond academic labs to human trials.
The company’s first product, Telepathy, uses 64 ultra-slim threads implanted directly into the brain. These threads contain 1,024 electrodes that capture nerve signals – thinner than hair. The idea is to give people with severe paralysis the ability to interact with computers and physical devices using only their own ideas.
So far, five people have undergone implants. Neuralink says these patients can already use their minds to control both digital and physical technologies. The company is currently running four clinical trials focused on telepathy, CNBC reports.
It’s a competitive space. Companies such as Synchron, Paradromics and Precision Neuroscience are also developing BCI systems. The same day Neuralink announced its pay raise, Paradromics revealed that it had ported the device to a human for the first time.
Neuralink doesn’t detail the new devices it is working on, but Musk is speaking out about its long-term vision. He even said he was open to getting his own chips.
The future device that Musk has frequently promoted is called Blindsight, which aims to restore the vision of blind people. The US Food and Drug Administration has recognized its “groundbreaking device” status. This is a label reserved for innovations that can significantly improve treatment for serious conditions.
In a post last September, Musk argued that blind people could even help people who have lost both and the optic nerves see again.
That said, there’s still a lot to prove. Turning Neuralink’s vision into something widely available takes time and more testing.
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