Neuralink Secures $43 Million in Fresh Funding, Eyes Innovation in Brain-Computer Interface Technology

Neuralink, the brainchild of tech visionary Elon Musk, has garnered a fresh infusion of $43 million in venture capital, as disclosed in a recent filing with the Securities and Exchange Commission (SEC).

This additional funding, reported in a filing released this week, expands upon a previous round led by Peter Thiel’s Founders Fund. The initial amount of $280 million has now surged to $323 million, attracting investment from thirty-two backers, as indicated in the filing.

While Neuralink has not disclosed its current valuation, earlier reports from June estimated the company’s worth at approximately $5 billion, following private stock transactions.

Established in 2016, Neuralink has made substantial strides in developing implantable chips capable of interpreting brain activity. Their innovative approach involves a sewing machine-like device adept at implanting ultra-thin threads into the brain. These threads are then linked to a specially designed chip housing electrodes, enabling the extraction of information from clusters of neurons.

Although brain-signal-reading implants are not a new concept, Neuralink’s pioneering contribution revolves around their wireless functionality and enhanced capacity for implanted electrodes.

After facing prior rejection, Neuralink received FDA approval for human clinical trials in May. Under an investigational device exemption by the FDA, the company initiated recruitment for its maiden human trials, marking a significant milestone in its quest to revolutionize brain-computer interface technology.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Nigerian Government Refutes U.S. Lawmakers’ Claims on Binance Executive’s Health in Detention
June 23, 2024By
Nigerian SEC Unveils Accelerated Program for Virtual Assets Service Providers
June 23, 2024By
Winklevoss Twins Donate $1 Million in Bitcoin Each to Support Trump’s Presidential Campaign
June 21, 2024By


Video Posts

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin63,749 0.08 % 0.81 % 4.08 %
Ethereum3,428.8 0.18 % 1.96 % 4.68 %
Tether0.9988 0.08 % 0.09 % 0.05 %
BNB581.84 0.00 % 1.09 % 4.46 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %

Please enter CoinGecko Free Api Key to get this plugin works.