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Mind Over Money: Braintech Funding Booms As Musk’s Neuralink Closes Record Round

Illustration of a semiconductor chip with a dollar sign.

, the -founded brain implant startup, on Monday officially a $650 million Series E funding round, confirming earlier reports that the Fremont, California-based company was set to close on a massive raise.

The raise, which values Neuralink at $9 billion, is by far the largest for a startup working on brain-computer interface technology, but comes as funding to neuroscience startups overall is set to rise sharply this year. All told, funding to the broader category of neuroscience startups totaled $896 million last year and is on track to reach $1.4 billion in 2025, °µÍø³Ô¹Ï data shows.

Neuralink has now raised a total of $1.3 billion since its founding in 2016, °µÍø³Ô¹Ï data shows. It received its latest backing from , , , , , , , , , and , among others.

Its brain implants are designed to treat neurological disorders such as paralysis and blindness. The company said five people with “severe paralysis� are now using Neuralink technology “to control digital and physical devices with their thoughts, marking a profound step toward helping restore independence.�

The company’s brain implant device, which has a chip that processes neural signals that can be transmitted to computers or phones, is .

While Neuralink is the most well-funded of the group, other companies working on computer-brain interfaces have also raised significant venture backing, a review of °µÍø³Ô¹Ï data shows.

To illustrate, we put together a curated list of some of the most well-funded companies in the space.

They include ., which says it’s developing devices “aimed at restoring vision, cognition, and mobility to patients who have lost it.â€� The Alameda, California-based company announced in April that it had in a round led by . (The financing was in the form of a convertible note, according to °µÍø³Ô¹Ï data). The company has since its 2021 inception. Besides Khosla, investors include , and, among others.

Another example is China’s , a Neuralink competitor that raised a $48 million Series B funding round in February, the largest-ever funding round for a startup in the field in that country. It’s unclear how much the company raised in previous venture rounds.

Meanwhile, another Neuralink competitor, Austin, Texas-based , announced on June 1 that it had performed its using its Connexus Brain-Computer Interface. Paradromics has in funding since its 2015 inception, according to °µÍø³Ô¹Ï data. Investors include , , , and.

Related °µÍø³Ô¹Ï list:

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