Neuralink raises $205M for brain implant mission
Neural ink, the futuristic brain-computer interface company founded by Elon Musk, said it has raised US$205 million in fresh venture backing, by far the biggest haul of any company in its field.
In a blog post on Thursday, Neuralink said Dubai-based venture firm Vy Capital had led the latest funding round.
It comes two years after filings showed Neuralink was raising US$51 million in a previous round.
The funds will help Musk's Austin, Texas-based Neuralink work on its brain implant for quadriplegics, a device that in time could also assist other people with neurological disorders.
The technology could help provide patients “digital freedom” by allowing them to interact with computers and phones “in a high bandwidth and naturalistic way,” according to the Neuralink announcement.
The next big step for Neuralink will be clinical trials in humans of its device, which so far has been shown off in pigs and a Pong-playing monkey.
“It is a bet on cool tech meets Elon,” said Robert Nelsen, the co-founder of Arch Venture Partners who took part in the round. “A very hard but very big vision.”
Neuralink has yet to announce human trials, although one of its rivals, Synchron, announced early trials for its own brain-computer interface just this week.
Seven months in, 2021 has already become a record year in brain-computer interface funding. A few days ago, Paradromics said it had raised US$20 million.
It is a bet on cool tech meets Elon. A very hard but very big vision.
Excluding that round and the latest Neuralink funding, brain-computer interface companies had raised US$132.8 million this year.
All told, including the latest funding rounds, 2021 has already tripled the US$97 million raised in all of last year, according to Pitchbook data.
Musk has said Neuralink could relieve conditions ranging from depression to traumatic brain injuries, claims that scientists have agreed are plausible.