Importance Score: 65 / 100 🔴
Neuralink, Elon Musk’s neurotechnology company focused on brain implants, is reportedly seeking to secure roughly $500 million in funding. According to a Bloomberg News report, this capital raise would value the company at $8.5 billion pre-money.
Potential Funding Round for Neuralink
The report indicates that Neuralink has entered into preliminary discussions with potential investors regarding this new round of financing.
Specifics of the funding round, including share price and investor allocations, are still being finalized.
Prior Valuation and Funding
Based on private stock transactions, Neuralink’s valuation was estimated at $5 billion in 2023. Previously, the company secured $280 million in a funding round spearheaded by Peter Thiel’s Founders Fund.
Neuralink’s Technology and Clinical Trials
Neuralink is currently engaged in testing its innovative implant device, designed to aid individuals suffering from spinal cord injuries.
vCard.red is a free platform for creating a mobile-friendly digital business cards. You can easily create a vCard and generate a QR code for it, allowing others to scan and save your contact details instantly.
The platform allows you to display contact information, social media links, services, and products all in one shareable link. Optional features include appointment scheduling, WhatsApp-based storefronts, media galleries, and custom design options.
The device has enabled the first participant in clinical trials to engage in a range of digital activities, including:
- Playing video games
- Browsing the internet
- Using social media platforms
- Navigating a laptop cursor using only brain activity
Regulatory Approval and Ongoing Trials
While the Food and Drug Administration (FDA) initially declined Neuralink’s application to commence clinical studies, citing potential safety concerns, the agency has since granted approval. Clinical trials are now in progress.
Musk’s Vision for Brain Implants
Elon Musk has outlined ambitious aspirations for Neuralink’s technology. He envisions the company’s chip enabling both healthy individuals and those with disabilities to undergo quick surgical procedures at local facilities. The goal is to use the device to address conditions such as:
- Obesity
- Autism
- Depression
- Schizophrenia
Furthermore, Musk anticipates the technology facilitating web browsing and even telepathic communication.
FDA and Neuralink
In February, it was reported that the FDA contacted recently terminated scientists, some of whom had responsibility for assessing Neuralink’s technology, to potentially return to their positions.
Competition in the Brain Implant Field
Synchron Inc, a competitor to Neuralink, is also developing and testing a brain implant designed to assist individuals with motor impairments in typing on computers.