Elon Musk’s brain-computer interface company, Neuralink, has secured $650 million in a fresh funding round as it moves ahead with clinical trials for its brain implant device.
The company, which aims to restore independence to people with severe medical conditions through neural technology, said the new capital will help expand access to its device and advance the frontier of brain-machine interfaces.
“This funding helps us bring our technology to more people, restoring independence for those with unmet medical needs and pushing the boundaries of what’s possible with brain interfaces,” Neuralink said in a statement on Monday.
Neuralink’s implantable chip, which translates neural signals into digital commands, is currently being tested in three countries.
The $650 million funding round drew participation from a host of high-profile investors, including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed Venture Partners, Qatar Investment Authority (QIA), Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital.
Neuralink was established in 2017 to implant electrodes into people’s brains, and the company completed its first human implant in January last year.
In April this year, Neuralink began a worldwide search for volunteers to join its study on brain implant designed to enable individuals to control computers using their thoughts.
So far, Neuralink has successfully implanted its device in three patients. The company is among several global firms developing and testing experimental brain implants aimed at restoring mobility and communication for people with severe neurological conditions.