[Asia Economy Reporter Kim Suhwan] Neuralink, the brain neuroscience startup led by Elon Musk, the head of the American electric vehicle company Tesla, has raised an additional $250.5 million (approximately 235 billion KRW) in funding.
According to a Bloomberg report on the 29th (local time), Neuralink announced on its blog that it secured additional funding from venture firms including Bee Capital, based in Dubai.
Neuralink had previously raised $51 million two years ago.
Neuralink is developing brain-implant chips that allow humans to control various electronic devices using only their thoughts.
The company stated that through these chips, patients suffering from neurological disorders are expected to "gain digital freedom."
So far, Neuralink has conducted experiments on monkeys. Bloomberg reported that the success of clinical trials involving human participants will be the most critical factor for the adoption of the technology.
The company was founded in 2016 by Musk, who leads Tesla and space exploration company SpaceX, investing tens of millions of dollars of his personal wealth along with seven scientists and engineers.
Earlier, Paradromics, a brain-computer interface (BCI) company, also succeeded in raising $20 million, indicating that investments in the BCI industry have been increasing recently.
According to financial information provider PitchBook, before the funding rounds of Neuralink and Paradromics, the BCI industry had attracted $132.8 million in investments this year. Last year, it was $97 million.
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