Elon Musk’s brain-computer interface startup, Neuralink, is reportedly preparing for a significant funding round. According to Bloomberg, Neuralink is looking to raise $500 million at an $8.5 billion pre-money valuation.
Sources familiar with the matter have revealed that preliminary discussions with investors have begun, with the potential for Neuralink to be valued at $9 billion post-money. However, the terms of the funding round are still fluid, and Neuralink has not officially commented on the reports.
Despite being one of Elon Musk’s smaller ventures, Neuralink has shown impressive growth, with PitchBook valuing the company at $3.5 billion in November 2023.
Neuralink’s ambitious vision is to develop devices that allow users to interact with technology using only their brains. The startup is currently focused on assisting paralyzed individuals and patients with neurodegenerative diseases. Musk has also hinted at the potential for Neuralink’s technology to address vision problems and other health issues.
In recent developments, Neuralink has expanded its human trials to include three patients participating in the primary and convoy study. This progress signifies a significant step forward in achieving the company’s goals.
The potential funding round for Neuralink aligns with the soaring valuations of Elon Musk’s other ventures. SpaceX, his private space company, reached a remarkable $350 billion valuation in December. Additionally, his artificial intelligence startup, xAI, achieved an $80 billion valuation after merging with the social media platform X.
Elon Musk’s holdings in his companies have propelled him to the top of the Bloomberg Billionaires Index, with a net worth of $310 billion as of the latest reports.
Overall, Neuralink’s pursuit of a $500 million funding round at an $8.5 billion valuation reflects the company’s commitment to pushing the boundaries of brain-computer interface technology. This development, along with Musk’s other successful ventures, solidifies his position as a prominent figure in the tech industry.