Elon Musk’s Neuralink is reportedly looking to raise $500 million at a pre-money valuation of $8.5 billion, as it continues to make strides in the brain-computer interface (BCI) market. The company recently completed key development milestones, including the first human implants of its Telepathy BCI, designed to help people with quadriplegia control external devices with their thoughts.
Despite past challenges, including issues with implant wiring, Neuralink’s technology is advancing with additional implants planned for 2024 and the approval to study its N1 implant for controlling a robotic arm. As the BCI market heats up, competition from companies like Synchron and Precision Neuroscience is intensifying, with analysts forecasting significant growth in the sector.
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