New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

News

Elon Musk’s Neuralink quietly raised $43 million from thirty two investors

1 Mins read

It seems the last has not been heard of Elon Musk’s implantable chip company, Neuralink, as the company has recently raised $43 million to further its goal of making brain-implanted chips.

According to a filing published by the Security and Exchange Commission (SEC) recently, Neuralink’s funding gained, moving from its initial $280 million to $323 million, showing that $43 million was raised rather quietly, out of public scrutiny. The funds were raised from thirty two undisclosed investors.

Neuralink was founded in 2016, and is working on a device that can attach chips to the brain, as well as the chip itself. The company recently made a device capable of implanting ultra-thin threads inside the brain. In May, Neuralink received FDA approval to commence human trials, after going through series of disapprovals. The company recently opened an application channel to admit volunteers to its clinical trial program.

In the meantime, reports have it that Neuralink has been under series of scrutiny emerging from work ethics and the way animal test subjects have been treated, mostly unfairly. One of such scrutiny involved an investigation by the U.S. Department of Agriculture (USDA) over the welfare of animals used by Neuralink for its tests. The investigation was later squashed due to lack of evidence.

Read also: WhatsApp Unveils AI Chats Shortcut and Enhanced Status Filters for Beta Testers

The company has also been involved in some internal conflict that led to the departure of more than half of its scientists. Musk was accused of undermining management staff by asking junior staffers to email him directly about complaints and issues – this did not sit well with management, and resulted in what was termed as “internal conflict in which rushed timelines clashed with the slow and incremental pace of science.”

Neuralink has not publicly disclosed its valuation, however, a report published by Reuters in June valued the company at about $5 billion.

Don’t miss any tech news ever!

We don’t spam! Read our privacy policy for more info.

859 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
News

Nigeria's SEC approves two crypto exchanges to operate in the country

1 Mins read
Following the exit of two giant crypto exchanges from Nigeria, the Securities and Exchange Commission (SEC) has granted provisional licenses to two…
News

Bolt suspends inter-country ride requests for users in Nigeria and South Africa

1 Mins read
Ride-hailing app Bolt has been forced to restrict inter-country ride requests between Nigeria and South Africa – following a bizarre social media-driven…
News

US-based Halliburton suffers cyber attack; shuts down systems

1 Mins read
Halliburton, a giant in the oil and gas sector, has become the latest victim of cyber attack. The attack, which came to…
Newsletter Subscription

🤞 Don’t miss any update!

We don’t spam! Read more in our privacy policy

Join our Telegram channel here - t.me/TechpadiAfrica

Leave a Reply

×
Big Story

Summary of OpenAI and Sam Altman's faceoff that led to Altman's removal and reinstatement as CEO