Neuralink Plans a Fundraise of $500 Million at The Valuation of $9 Billion
| BREVITY: Elon Musk’s brain-implant startup, is reportedly seeking to raise $500 million in a new funding round. It would elevate the companies valuation to approximately $9 billion post-funding. |
Elon Musk’s neurotechnology startup, Neuralink is in discussion to secure funding of $500 million at the pre-money valuation of $8.5 billion in a new funding round, citing people familiar with the context, as reported by the Bloomberg.
The discussion regarding fundraise is already initiated with the potential investors by Neuralink. However, the terms of the deal is not officially finalized yet and the post-money valuation could still change depending on negotiations, says Bloomberg.
Neuralink has raised a total of $686.2 million in funding since its inception at 2016. Previously, the company secured a funding of Series D of $323.2 million in August 2023 from Peter Thiel’s founders fund, marking brain implant company’s valuation to estimated of $5 billion.
The NeuroTechnology company, Neuralink is mainly focused on developing implantable devices directly into the human brain which could help people, including those with paralysis, control computers directly with their brain.
Neuralink is based on the technology called Brain Computer Interface(BCIs)– a technology that enables direct communication between human brain and other external electrical devices like computers and AI systems. In simple words you can control external technologies through your brain.
Moreover, Neuralink received FDA approval for human clinical trials in early 2023, paving the way for validation of its brain implants. After getting the approval from FDA, the first brain chip is successfully implanted into a human patient, Noland Arbaugh(who suffered from spinal injuries by), in January 2024.
Noland reported a significant improvement in his abilities to interact with digital devices. He was able to browse the internet, play video games and much more as this ability allowed him to move the cursor only through his thoughts. This was an augmented experience that allowed him to reconnect with the world, said Noland. Neuralink might carry out 20 to 30 more implants in this year in 2025.
Neuralink is among several companies developing technology that allows humans to use their brains to control computers and other devices.Currently, this technology is not commercially available. It could help paralyzed people and people with neurodegenerative, and Elon Musk aims to augment typical human brain function as well.
