Neuralink held a record-breaking investment round and raised $280 million in a Series D round

The valuation of Ilon Musk’s neurotech startup has reached approximately $5 billion in two years.

Neurotech startup Neuralink has raised $280 million in investment in a Series D investment round, the company announced in its profile on X.com (Twitter).

The startup did not disclose the details of the round, including the overall valuation and sources of funds. However, according to Reuters, the main investor was the Founders Fund venture capital fund of billionaire Peter Thiel, a longtime business partner of Neuralink’s current head, Ilon Musk.

In June, Reuters’ interlocutors estimated Neuralink’s value at $5 billion based on private transactions in its stock. In the two years since the previous largest round of $205 million, the startup’s capitalization has grown about two and a half times.

Neuralink’s round was the largest in the neurointerfaces space since the beginning of the year. For comparison, Fortune estimated total investments in startups in this area for the first half of the year at $143 million, and for the whole of 2022 – $278.1 million.

From Ilon Musk to the brain

Neuralink publicly demonstrated technology to connect the human brain to a computer in July 2019. The company is working on “threads” to read information directly from the brain, as well as on a neurosurgical robot to implant them.

Specialists expect to use the chips to help paraplegics use computer technology. According to their idea, people with disabilities with the help of the new technology will use their thoughts to “write” text messages and “flip” pages on the Internet.

The new technology will be especially useful for patients with neurological diseases, Musk believes. According to statements, the development will have other possibilities – for example, the restoration of hearing or vision.

As the businessman noted, the Neuralink chip will allow the wearer to “fix all brain problems” – from memory loss and stroke to drug addiction and eating disorders. In the future, Musk also expects to establish telepathic communication with its help.

In 2021, Neuralink demonstrated to the public a monkey with a chip playing a video game “by the power of thought.” However, several investigations were later opened against the company – for example, for violations in the transportation of hazardous materials.

The company applied to test its technology on humans back in 2022, but was denied. In May 2023, it was still allowed to human trials of the devices – they are scheduled to begin by the end of the year.

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