Like what you're reading? Please Support Us!

Elon Musk-Backed Brain Chip Company Neuralink Gets $280 Million In Funding

The following article, Elon Musk-Backed Brain Chip Company Neuralink Gets $280 Million In Funding, was first published on Flag And Cross.

      SpaceX CEO Elon Musk arrives at the Red Bull Racing's garage before the third practice and qualifying sessions for the 2023 Miami Formula One Grand Prix at the Miami International Autodrome in Miami Gardens, Florida, on May 6, 2023. (CHANDAN KHANNA/GETTY IMAGES)

Best known as the CEO of Tesla, Elon Musk also wears many other hats with titles of co-founder, owner and CEO pertaining to SpaceX, The Boring Company, Neuralink and social media platform X, formerly known as Twitter.

SpaceX CEO Elon Musk arrives at the Red Bull Racing’s garage before the third practice and qualifying sessions for the 2023 Miami Formula One Grand Prix at the Miami International Autodrome in Miami Gardens, Florida, on May 6, 2023. (CHANDAN KHANNA/GETTY IMAGES) 

One of the companies co-founded by Musk recently landed a funding round of more than $250 million dollars.

Months after receiving FDA clearance to begin trials for brain chips implanted into humans, Neuralink has announced a new $280 million funding investment.

Neuralink is a chip-to-brain technology that is expected to help humans to clear their mind a series of events.

I was a question of matter of how the technology would be used prior to the approval to the FDA.

Musk has stated he plans to use Neuralink on himself when the technology is capable to use.

The Series D funding round was led by Founders Fund, a venture capital firm co-founded by Peter Thiel. Founders Fund previously invested in a Series C round for Neuralink.

“We’re happy to announce our $280M Series D round led by Founders Fund. We’re extremely excited about this next chapter at Neuralink,” the company tweeted.

Neuralink was co-founded in 2016 by Musk and is seeking to implant brain chips in humans, a move that Musk said could help with the growth of artificial intelligence.

“Excited to support Neuralink’s next chapter of helping human patients in need,” Founders Fund partner Scott Nolan in a tweeted. “The team has been working for seven years to make this possible, pulling off technical breakthroughs that feel like science fiction.”

SpaceX CEO Elon Musk arrives at the Red Bull Racing’s garage before the third practice and qualifying sessions for the 2023 Miami Formula One Grand Prix at the Miami International Autodrome in Miami Gardens, Florida, on May 6, 2023. (CHANDAN KHANNA/GETTY IMAGES) 

Neuralink did not announce what the funds would be used for, but both the company and Nolan shared links to the company’s careers page, suggesting a push to hire additional talent.

In June, it was reported Neuralink was valued at $5 billion, up from $2 billion in 2021.

The new investment by Founders Fund might not be a surprise given its past investment in the company.

Founders Fund is also an investor in several other private companies connected to Musk, including SpaceX and The Boring Company.

Thiel is also connected to Musk thanks to their past relationship at PayPal Holdings Inc (NASDAQ: PYPL). Musk co-founded X.com, a company that merged with Confinity, a company co-founded by Thiel, to form PayPal.

Musk has previously said Neuralink could lead to medical advancements such as treating mental health conditions, assisting paralyzed people with communication and enabling telepathy.

Produced in association with Benzinga

Continue reading: Elon Musk-Backed Brain Chip Company Neuralink Gets $280 Million In Funding ...

Leave a Reply

avatar
3000
  Subscribe  
Notify of

Like what you're reading? Please Support Us!