Neuralink raises $650m to widen use of brain implants

Brain-computer interface (BCI) developer Neuralink has completed a $650 million fifth-round financing that the company says will allow it to "bring our technology to more people."

The injection of cash follows a period of rapid progress at the company, which began after it first implanted its N1 wireless chip into the brain of a human subject in January 2024. Since then, five individuals with severe paralysis have been given BCIs that allow them to control digital and physical devices with their thoughts.

It is the first fundraising effort at Neuralink since its $280 million Series D round in 2023 and brings the company's total raised capital to around $1.2 billion. According to Semafor, the new round has raised Neuralink's valuation to $9 billion from around $3.5 billion two years ago.

In a statement on the new financing, Neuralink said the investment will allow it to "expand patient access and innovate future devices that deepen the connection between biological and artificial intelligence" and expand its headcount.

In the last couple of years, Neuralink has also started clinical trials of its BCI with collaborators including the Barrow Neurological Institute, The Miami Project to Cure Paralysis at the University of Miami, Toronto Western Hospital's University Health Network, and the Cleveland Clinic Abu Dhabi.

Those include the first trial of the device that seeks to extend its applications beyond digital device control, namely the CONVOY trial, which aims to pair the BCI with assistive robotic arms that can allow users to manipulate physical objects.

In a further shift into the realm of treatment, Neuralink has also picked up breakthrough designations from the FDA to use its BCI technology to address vision and speech impairments, as it tries to keep pace with rivals in the category, including Synchron, Inbrain Neuroelectronics, Blackrock Neurotech, and Paradromics.

Neuralink said it has also "invested heavily in expanding the number of neurons and brain regions that our device interfaces with to unlock new dimensions of human potential."

The Series E was joined by ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital, amongst others, according to Neuralink.

It comes shortly after Neuralink founder Elon Musk stepped back from his excursion into politics as part of the Trump administration, which led to criticism that his business interests – which also include electric carmaker Tesla and satellite system Starlink – were being sidelined.

Since his departure, Musk has attacked Trump's signature federal tax and spending bill, labelling it an "abomination" that would swell the budget deficit and calling on US citizens to lobby their political representatives to block it.