Neuralink, the brain-computer interface startup founded by tech tycoon Elon Musk, has raised $205-million during a round of Series C funding. The biggest amount raised by far for any company in its field.
In a post on Neuralink’s official blog, the company says that Dubai-based venture capital firm Vy Capital had led the latest round of funding. Other participants include Google Ventures, DFJ Growth, Valore Equity Partners and more.
Neuralink was founded by Musk to aid those with brain injuries in the near term and “reduce AI risk to humanity in the long term,” the company says.
“The company’s mission is to develop brain-machine interfaces that treat various brain-related ailments, with the eventual goal of creating a whole-brain interface capable of more closely connecting biological and artificial intelligence,” it says.
According to Fin24, the funds will help Musk’s Texas-based Neuralink to work on developing its brain implants which, in time, could assist people, like quadriplegics, in recovering from brain-related injuries.
“Neuralink has spent the last four years building the first high channel count brain-machine interface intended for therapeutic use in patients. Our first product, the N1 Link, is a 1024 channel device that, once implanted, is completely invisible and transmits data via a wireless connection,” the company says.
“The funds from the round will be used to take Neuralink’s first product to market and accelerate the research and development of future products.”
The technology could help provide “digital freedom” by allowing patients to interact with computers and phones “in a high bandwidth and naturalistic way,” according to the announcement.
Neuralink’s next mission is to begin clinical trials for humans – so far the company’s devices have only been shown off in pigs and a monkey that plays Pong.
“It is a bet on cool tech meets Elon,” said Robert Nelson, the co-founder of Arch Venture Partners who took part in the round.
“A very hard but very big vision.”
By Luis Monzon
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