Elon Musk’s brain tech startup is raising more cash

Neuralink, a small and secretive brain computing startup founded by Elon Musk, has raised $39m (about R552m) of a planned $51m (about R722m) funding round, according to a filing Friday with the Securities and Exchange Commission.

It was not immediately clear if the funders included traditional venture capital investors or if they comprised Musk and Neuralink employees. A spokesman did not immediately respond to a request for comment. Two years ago, the company said in a filing that it had raised $27m (about R382m) of a planned funding round of as much as $100m (about R1.4bn).

Neuralink was registered as a California medical research company in 2016 and has operated quietly from San Francisco since then. The company has hired away several high-profile neuroscientists from various universities and contracted with a laboratory at the University of California, Davis to conduct research on primates.

The venture has both awed and repelled various Musk watchers over the possibilities that it seemingly offers for connecting brains to computers. In March, a paper by a group of researchers affiliated with Neuralink was posted online. It outlined a novel technique for implanting electrodes into rat brains.

In April, when asked by a Twitter user for a Neuralink update, Musk replied "Probably something notable to announce in a few months."

Separately, Tim Gardner, a co-founder of Neuralink and a prominent early hire for the company, is taking a job as a professor of neuroengineering at the University of Oregon. He joined Neuralink from Boston University in March 2017.

ZAR/USD
17.00
(-0.09)
ZAR/GBP
21.24
(-0.12)
ZAR/EUR
19.14
(-0.13)
ZAR/AUD
11.81
(-0.13)
ZAR/JPY
0.16
(-0.20)
Gold
1774.74
(+0.03)
Silver
18.05
(+0.01)
Platinum
808.00
(+0.25)
Brent Crude
42.78
(-0.79)
Palladium
1914.01
(+0.62)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1576 votes
I am taking a hit, but should be able to recover in the next year
23% - 2071 votes
My finances have been devastated
34% - 3091 votes
It's still too early to know what the full effect will be
25% - 2241 votes
Vote