Saturday, Jun 25, 2022
International Finance
Featured Technology

Elon Musk’s Neuralink raises $205 mn in Series C round

Neuralink funding-IFM_Image
The tech firm aims to implant wireless brain-computer chips to help cure neurological conditions including Alzheimer's

Business magnate Elon Musk’s Neuralink has raised around $205 million in its Series C funding round led by Dubai-based investment firm Vy Capital, media reports said. Investors that participated in the funding round include Google Ventures, DFJ Growth, Valor Equity Partners, Craft Ventures, Founders Fund, and Gigafund.

Neuralink aims to implant wireless brain-computer chips to help cure neurological conditions including Alzheimer’s.

A press release said, “We are also happy to share that a group of leading executives and entrepreneurs in areas of strategic importance are also joining the round, including Robert Nelson (Co-Founder of ARCH Venture Partners), Blake Byers (Byers Capital), Sam Altman (Chairman of YC Group and CEO of OpenAI), Fred Ehrsam (Co-founder of Paradigm and Coinbase) and Ken Howery (Co-Founder of PayPal and Founders Fund).”

Previously, Elon Musk has revealed that Neuralink could begin testing brain chip implants on humans as soon as late 2021.

Earlier this year, Elon Musk’s Tesla, which is an electric vehicle and clean energy company based in the US, bought $1.5 billion worth of bitcoin. The company announced the same in a Securities and Exchange Commission (SEC) filing. The company said it will soon start accepting bitcoin as a form of payment for its products.

In the SEC filing, Tesla said, “We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.