Neuralink, Elon Musk’s neural interface technology company, announced that it has raised $650 million in its latest funding round. The funding round (classified as Series E) attracted participation from major investment firms, including ARK Invest, Sequoia Capital, Founders Fund, Lightspeed, G42, Thrive Capital, and others. The deal reportedly values the company at around $9 billion before the new investment.
This fresh capital comes as the company begins clinical trials of its brain implant device in humans across three countries. The firm claimed that five patients with severe paralysis have already received the implant and are using it to control both digital and physical devices using only their thoughts. According to the company, the latest funding will help expand access to its technology for people with serious medical needs.
“This funding will accelerate our efforts to expand patient access and innovate future devices that deepen the connection between biological and artificial intelligence,” the company said.
After this latest round, Neuralink has now raised over $1 billion in total funding since its inception in 2016. Before this, in August 2023, the company secured $323 million in a Series D round led by Peter Thiel’s Founders Fund. At that time, Neuralink was estimated to be valued at $5 billion.
Notably, Neuralink is a neurotechnology company focused on creating brain-computer interfaces (BCIs). The company’s main product – the N1 implant – uses tiny threads with electrodes to pick up and send brain signals. The device is still being tested. Earlier this year, the company completed its third brain-chip implant and said it plans to do 20 to 30 more in 2025. The company also plans to begin human trials for its artificial visual prosthesis, Blindsight, by the end of 2025.
Last month, the neural tech company received the FDA’s ‘breakthrough device designation’ for its experimental speech restoration implant. However, this designation, awarded under the leadership of newly appointed FDA commissioner Dr. Martin Makary (known for his controversial stance against COVID-19 vaccines and close ties to President Trump), signals early regulatory support but does not guarantee approval. Meanwhile, the capital infusion comes just days after Elon Musk announced his departure from his role in the current Trump administration, stating that he is refocusing on his business ventures.
But even with its progress, the company still faces challenges like regulatory scrutiny and ethical concerns. For example, in December 2024, the US Securities and Exchange Commission (SEC) reopened an investigation into Neuralink, looking into the safety claims the company made about its brain chip technology. This investigation is still ongoing and has not been resolved yet. Earlier, the company was also investigated by US authorities for possible violations in its handling of animal research.
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