Musk's Neuralink raises $650 million in latest funding round

Elon Musk's brain implant company Neuralink said on Monday that it had raised $650 million in its latest funding round.

It closed its funding round with participation from key investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital, the company said.

"This funding helps us bring our technology to more people — restoring independence for those with unmet medical needs and pushing the boundaries of what's possible with brain interfaces," Neuralink said.

Neuralink is in the process of testing its implant, which is intended to help people with spinal cord injuries.

According to the company, the device allowed its first patient to play video games, browse the internet, post on social media and move a cursor on his laptop directly with his brain.

Neuralink received the U.S. Food and Drug Administration's "breakthrough" tag for the device last month.