Neuralink, a brain implant startup founded by Elon Musk, is planning to raise about $500 million in fresh funding with a $8.5 billion pre-money valuation, Bloomberg reports citing people familiar with the deal.
The round, which is still in its early stages, could push Neuralink’s valuation to about $9 billion in post money. Discussions with investors are ongoing and conditions may still change.
“The brain implant companies have begun a preliminary discussion with potential investors about the funding round, asking everyone not to identify that they will not discuss personal information.
According to Pitchbook, the startup was last valued at $3.5 billion in November 2023. This is led by Jared Birchall, who runs the Mask family office and plays a key role in other mask-driven ventures.
Neuralink declined to comment on the report.
Launched in 2016, NeuralInk is working on a Brain-Computer interface that allows users to control devices in their own mind. A technique called “link” is a small implant embedded in the brain, connected to threads that are thinner than human hair. It contains over 1,000 electrodes that pick up neural activity and send it to an external system.
The company’s initial focus is to help patients with severe mobility problems. In the long run, MUSK came to the idea that technology is becoming more widely used, such as memory enhancement and human integration.
Neuralink received FDA clearance in 2023 and began testing humans, marking a major milestone on the road to commercialization.
As the new round passes, it marks another major step up in valuation and another indication that investors are eager to support Musk’s most ambitious bet. SpaceX is currently worth an estimated $350 billion, but his artificial intelligence company Xai has recently reached a $80 billion valuation after integrating with X.
Earlier last year, Neuralink achieved a groundbreaking milestone by becoming the first company to successfully complete the device in the human brain. With more human trials underway and funding pipelines open, Neuralink may be closer than ever to turning its sci-fi vision into a real thing.
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