Musk's Neuralink raises $280 million in funding led by Thiel's Founders Fund

[August 08, 2023]  (Reuters) - Elon Musk's brain chip startup Neuralink has raised $280 million in a funding round led by Peter Thiel's Founders Fund, months after securing approval for its first in-human clinical trial.

The company did not reveal the valuation at which the funds were raised. In June, Reuters reported that the company was valued at about $5 billion after privately executed stock trades.

"We're extremely excited about this next chapter at Neuralink," the company said in a post on Musk-owned social media platform X, formerly known as Twitter.

Neuralink employees told Reuters last year the company was rushing and botching surgeries on monkeys, pigs and sheep, resulting in more animal deaths than necessary, as Musk pressured staff to receive FDA approval.

Neuralink logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration

The animal experiments produced data intended to support the company's application for human trials, the sources said.

In May, U.S. lawmakers urged regulators to investigate whether the makeup of a panel overseeing animal testing at Neuralink contributed to botched and rushed experiments after Reuters reported on potential financial conflicts on the panel.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)

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