Elon Musk’s Neuralink Procures Brain Computer Device R29bn

Neuralink, a futuristic brain-computer interface company founded by Elon Musk, is by far the largest funded company in the field to support $ 205 million in new ventures. He said he had procured it.

Neuralink said in a blog post Thursday that Dubai-based venture capital has led the latest funding round. Two years after the filing showed that Neuralink had raised $ 51 million in the previous round.

The funding will help Austin, Texas-based Neuralink work on brain implants for quadriplegic patients, a device that may help other people with neuropathy. According to the announcement, this technology could help provide patients with “digital freedom” by allowing them to interact with computers and phones “in a high-bandwidth, naturalistic way.” I have.

The next big step for Neuralink is a human clinical trial of the device, which has been shown in pigs and pon play monkeys so far.

Robert Nelson, co-founder of ArchVenture Partners, who participated in the round, said: “Very difficult, but very big vision.”

Neuralink hasn’t announced a human trial yet, but one of its rivals, Synchron, announced an early trial of its own brain computer interface this week.

The seven months of 2021 are already a record year for brain-computer interface financing. A few days ago, Paradromics said it had raised $ 20 million. Excluding that round and the latest Neuralink funding, Brain Computer Interface companies have raised $ 132.8 million this year. According to PitchBook data, $ 97 million raised last year as a whole has already tripled in 2021, including the latest round of funding.

Neuralink was first registered as a California company in 2016, but Musk did not publicly discuss the company until the following year.

Vy Capital was founded by Alexander Tamas, a former partner of DST, an investment company founded by billionaire Yuri Milner. Other investors in the Neuralink Round include Alphabet Inc.’s GV, Founders Fund and Craft Ventures.

Source: News24

Elon Musk’s Neuralink Procures Brain Computer Device R29bn

Source link Elon Musk’s Neuralink Procures Brain Computer Device R29bn

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