Neuralink Secures $323 Million in Series D Funding to Advance Brain-Computer Interface Technology

Dec 06, 2023 09:00 CST Updated 09:00

Neuralink

Brain-Computer Interface System Developer

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On November 25, brain-computer interface company Neuralink secured $43 million in venture capital funding, led by Founders Fund, the venture capital fund of Silicon Valley legendary investor Peter Thiel. A total of 32 investment institutions participated in this financing round, bringing the total size of the latest funding round from $280 million in August to $323 million.

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Neuralink, founded in 2016 and headquartered in San Francisco, is a neurotechnology and brain–computer interface (BCI) company established by Elon Reeve Musk and leading neuroscientists to develop implantable brain–computer interface technologies. The company’s short-term goal is to create devices for treating severe neurological disorders, its long-term goal is to achieve “symbiosis with artificial intelligence,” and its ultimate aim is to enhance human health.

To date, Neuralink has secured over $686 million in financing. On November 25, Neuralink closed a $43 million funding round led by Founders Fund, bringing the total size of its latest financing round from $280 million in August to $323 million.

The company has adopted an invasive approach to develop a small, implantable microelectrode chip that connects the human brain with computers. It aims to use this brain-computer interface device to help treat neurological disorders such as Parkinson's disease, epilepsy, blindness, hearing impairment, depression, and amnesia, with the ultimate goal of enabling paralyzed individuals to walk again.

01 Brain-Computer Interface Products

The company’s main products include the “N1” brain-computer interface chip, the “R1” robotic system for brain-computer interface surgery, and the “N1” application.

According to Neuralink’s official website, the “N1” brain-computer interface chip is only the size of a coin and features a biocompatible casing capable of withstanding physiological conditions several times harsher than those found in the human body. Neuralink’s hardware system includes processing, communication, and charging modules, as well as a battery and signal amplification equipment. The implant features over 1,000 electrodes for collecting neural data. The battery can operate for several hours and can be wirelessly recharged within a few hours using a customized baseball cap.

Neuralink’s human surgical procedure requires the removal of a portion of the patient’s skull to implant a series of electrodes and ultrafine wires into the brain. Due to the high precision required for this process, Neuralink has also developed a robot capable of performing brain-computer interface surgeries, enabling the safe implantation and removal of devices while minimizing damage to brain tissue.

After the robot completes the implantation, the missing portion of the skull will be replaced by a brain-computer interface about the size of a quarter. This device will remain in place for several years. Its task is to read and analyze brain activity, decode motor intentions through the N1 app, and wirelessly transmit the information to a nearby laptop or tablet, enabling thought-controlled computer operation.

The company’s next-generation model features 16,000 channels, which is 16 times that of Neuralink’s first-generation technology and 160 times that of comparable competitors. According to Neuralink’s projections, by placing one device on each side of the visual cortex in blind individuals, they would be able to perceive an image composed of 32,000 “phosphenes,” enabling them to see more details and a higher-fidelity visual representation.

02 Clinical Trial Progress

In recent years, Neuralink has conducted experiments on various animals and gradually begun recruiting patients for human clinical trials. In July 2019, Neuralink publicly announced a brain-computer interface (BCI) system developed by the company and tested it in mice. In August 2020, Neuralink’s device successfully read brain activity in pigs. Subsequently, the company used macaques to test the device’s interactive capabilities, such as enabling the monkeys to play a video game of Pong using only their thoughts and to type on a soft keyboard.

In May 2023, Neuralink received approval from the U.S. Food and Drug Administration (FDA) to conduct clinical research. Meanwhile, the company launched human trials in the second half of this year, recruiting patients with quadriplegia resulting from spinal cord injuries. Currently, the company is still recruiting patients for its human clinical trial, named PRIME (Precise Robotically Implanted Brain-Computer Interface).

The study will test the company’s brain-computer interface (BCI), evaluating its N1 implant and R1 surgical robot. The study will last approximately six years, with the primary phase lasting about 18 months, including nine home-based and in-person outpatient visits. Participants must attend at least two one-hour BCI research sessions per week.

Starting next year, Neuralink plans to begin performing brain-computer interface implant surgeries on humans. In 2024, it plans to conduct 11 implant procedures, and by 2030, this number is expected to increase 2,000-fold, with the goal of implanting brain-computer interfaces in over 22,000 individuals.

Author: Zhang Qiankun

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