Neuralink, Elon Musk's neurotechnology company, has successfully raised $650 million in a Series E funding round. This financial boost will support the company's ongoing human clinical trials across multiple countries and further development of its brain-computer interface (BCI) technology.
The company's efforts are focused on assisting individuals with severe paralysis to regain independence through implantable devices that translate neural signals into digital commands. Currently, five patients are testing Neuralink's technology, exploring the ability to control external devices with their thoughts.
In addition to funding, Neuralink has received FDA's Breakthrough Device Designation for its device aimed at restoring speech. This designation is designed to accelerate the development and assessment of medical devices that offer more effective treatment for life-threatening conditions. This year, Neuralink has expanded its clinical trials to institutions such as the Miami Project to Cure Paralysis at the University of Miami, marking significant progress in the field of neurotechnology.