Elon Musk’s neurotechnology startup Neuralink has secured $650 million in a new funding round, the company announced on Monday, as it ramps up clinical trials of its brain-computer interface device designed to restore mobility, speech, and vision.
“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.
The raise comes as Neuralink moves forward with its first human trials in three countries. So far, five patients with severe paralysis are using the device to control both digital and physical systems purely with their thoughts.
The experimental device includes a chip that decodes neural signals, enabling interaction with phones, computers, and other connected technologies. Neuralink’s early testing represents a pivotal step in its ambition to merge human cognition with digital systems.
The U.S. Food and Drug Administration (FDA) has granted Neuralink’s speech restoration system a “breakthrough” designation, a tag reserved for promising devices that could offer significant improvements over existing treatments. The company had earlier received the same designation for its vision-restoring implant.
These designations are part of the FDA’s Breakthrough Devices Program, which aims to expedite the development and review of technologies that address life-threatening or irreversibly debilitating conditions.
Neuralink’s latest funding round reportedly saw participation from a roster of top-tier investors including Sequoia Capital, Founders Fund, ARK Invest, Thrive Capital, QIA, DFJ Growth, Lightspeed Venture Partners, G42, Valor Equity Partners, Human Capital, and Vy Capital. Semafor previously reported that the company had raised $600 million at a $9 billion valuation before this new infusion.
Meanwhile, Musk has shifted focus back to his companies, including Tesla, SpaceX, Neuralink, xAI, and platform X, after stepping down from his advisory role with former U.S. President Donald Trump. According to reports on Monday, Morgan Stanley is working to secure a $5 billion debt package for xAI, which is also in the midst of a $300 million share sale targeting a $113 billion valuation
