Neuralink, the company founded by Elon Musk, has raised an additional $43 million in venture capital. It shows that the company increased its previous tranche led by Peter Thiel’s Founders Fund from $280 million to $323 million in early August. It also had 32 investors participating, according to the filing. Neuralink did not disclose its valuation recently. However, in June, Reuters reported that the company’s value was around $ 5 billion after private stock market transactions.
Neuralink, the Company Founded by Elon Musk
It has designed a sewing machine-like device that can insert ultra-thin threads into the brain. The threads are connected to a specially designed chip containing electrodes that can read information from groups of neurons. Implants that read brain signals are a decades-old technology. But Neuralink’s apparent innovation lies in making the implants wireless and increasing the number of electrodes implanted. In May, Neuralink received FDA approval for clinical trials in humans after its application was previously rejected. It also opened the first human trials for recruitment under the FDA’s investigational device exemption.
However, Neuralink is increasingly under scrutiny for what critics claim is a toxic workplace culture and unethical research practices. Neuralink has been under federal investigation by the US Department of Agriculture (USDA) for animal welfare violations for nearly a year. The USDA ultimately concluded that there was “no evidence” of animal welfare violations in the startup’s trials, with the exception of one incident reported in person in 2019. However, PCRM appealed the results of the investigation. Note also for US Lawmakers in November 2023. It asked the SEC to investigate Neuralink for omitting details about the deaths of at least a dozen animals that had been surgically implanted with its implants.