Elon Musk's brain-computer interface startup Neuralink has closed a $650 million Series E funding round.

The investment was backed by ARK Invest, Founders Fund, Human Capital, Lightspeed, Sequoia Capital, and Thrive Capital.

According to Neuralink, the capital injection will be used to "expand access to patients and innovate future devices that deepen the connection between biological and artificial intelligence." The startup is currently recruiting engineers and operators across all disciplines whilst seeking patients for current and future clinical trials.

"This funding helps restore independence for those with unmet medical needs and pushes the boundaries of what's possible with brain interfaces," the company stated.

Since its establishment in 2016, Neuralink has raised a total of $1.24 billion across seven funding rounds, according to its website. The company previously raised $323 million in a Series D funding round in 2023, led by Founders Fund.

Neuralink's flagship product, Telepathy, uses ultra-thin flexible wires that are embedded directly into the brain to capture neural signals and transmit them wirelessly to external devices. The wires are thinner than human hair and record neural signals through 1,024 electrodes.

Over the past two years, the company has initiated clinical trials at neurosurgical institutions across three countries and two continents. Partner institutions include the Barrow Neurological Institute, the Miami Project to Cure Paralysis at the University of Miami, the University Health Network (Toronto Western Hospital), and the Cleveland Clinic Abu Dhabi.

The stated goal of the technology is to help patients with severe paralysis regain independence. As of this week, five patients have received Neuralink implants and are able to "control digital and physical devices with thought," according to the company's statement.

The first patient to receive a Neuralink device was Noland Arbaugh, who was paralysed in a driving accident and had the device implanted in January 2024.

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