Musk’s Neuralink Garners Major Funding as Human Trials Expand
(MENAFN) Elon Musk’s neurotechnology company, Neuralink, revealed on Monday that it has successfully raised $650 million in its latest Series E funding round.
In a blog post, the firm detailed that notable backers in this round include ARK Invest, Founders Fund, Sequoia Capital, and Thrive Capital, alongside other prominent investors.
This latest infusion of capital follows a Series D round in 2023, where the company garnered $280 million, with an extra $43 million added in a subsequent tranche.
According to Neuralink, the company has now advanced its human clinical research by implanting its brain-computer interface devices into five individuals suffering from severe paralysis.
In a significant regulatory milestone, the company was granted Breakthrough Device designation by the U.S. Food and Drug Administration (FDA) in May.
As per the FDA, the Breakthrough Devices Program is an optional pathway designed for specific medical devices and combination products that aim to offer improved treatment or diagnosis for serious or permanently disabling conditions.
The purpose of the initiative is to accelerate the development, evaluation, and approval processes for these types of medical technologies, ensuring quicker access for patients and healthcare providers.
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