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Home / Company / Neuralink

Neuralink

Last Updated November 21, 2025

Neuralink is a neurotechnology company developing implantable brain-computer interfaces that translate neural activity into digital actions. The company’s system combines a fully implanted wireless brain chip (N1), ultra-thin electrode threads, a high-precision surgical robot, and neural decoding software to enable people with severe paralysis to control computers and other devices using thought alone. Following FDA approval to begin human trials, Neuralink announced its first human implant in January 2024 and has since expanded trials to additional patients in multiple countries. The company has received FDA “Breakthrough Device” designations for its Blindsight vision-restoration implant and a speech restoration device, and it is pursuing a multi-product roadmap aimed at both restoring lost function and building a scalable clinical and manufacturing footprint.
Company Overview: Neuralink
Neuralink operates at the intersection of neurotechnology, medical devices, and advanced robotics, targeting a large unmet medical need among patients with paralysis, vision loss, and other neurological conditions. The company has progressed from preclinical research to early human implants, demonstrating that a fully implanted wireless BCI can enable real-world use—such as controlling a cursor and playing games—without external connectors. For investors who focus on long-term deep-tech and healthcare innovation, this combination of clinical milestones, regulatory designations, and technical integration is a key point of interest. From a capital formation standpoint, Neuralink’s June 2025 $650M Series E round, at a reported ~$9B valuation, reflects confidence from institutional investors in the company’s ability to scale clinical trials and move toward commercial deployment. Investor materials reported in the press outline internal targets of reaching roughly $1B in annual revenue by 2031 through a portfolio of products (e.g., Telepathy and Blindsight) and multiple specialized clinics performing tens of thousands of surgeries per year. These figures are projections rather than guarantees, and outcomes will depend on regulatory approvals, patient adoption, reimbursement environments, and long-term device safety and durability. At the same time, Neuralink operates in a highly regulated and technically demanding domain. The business is exposed to clinical risk, regulatory scrutiny, ethical debates, and long timelines typical of implantable medical devices. Any evaluation of the company must weigh its technical and clinical progress against these risks, as well as competition from other BCI approaches. Prospective investors generally conduct independent diligence on trial results, regulatory interactions, manufacturing scalability, and potential reimbursement pathways before forming a view.
Investment Highlights

Clinical & Regulatory Milestones

  • Conducted first human implant in January 2024 in a patient with quadriplegia, who demonstrated the ability to control a computer cursor and play games using thought alone.
  • Expanded early human trials to additional patients and sites, with implants now in place across multiple countries as part of ongoing clinical studies.
  • Received FDA “Breakthrough Device” designation for the Blindsight vision-restoration implant, as well as for a speech restoration device, which can accelerate certain aspects of the regulatory pathway.

Valuation & Funding

  • Closed a $650M Series E funding round in June 2025, bringing total capital raised to roughly $1.3B.
  • Media and investor reports indicate this round valued Neuralink at approximately $9B, more than doubling the company’s prior private valuation from around $3.5B in 2023.
  • Proceeds are earmarked for scaling clinical trials, expanding manufacturing capacity, and building specialized centers to perform implant procedures at higher volumes.

Commercial Roadmap

  • Investor documents reported in the press describe internal targets of implanting devices in about 20,000 patients annually by 2031, across several dedicated clinics.
  • Same materials outline an internal goal of reaching at least $1B in annual revenue by 2031, driven by procedures and device sales for products such as Telepathy (paralysis) and Blindsight (vision), subject to regulatory approvals and real-world outcomes.
  • Near-term focus remains on clinical validation and safety, with commercialization expected to be staged by indication and geography.
Product & Technology Leadership

Core Platform

  • N1 Implant: Fully implanted, wireless brain-computer interface with ultra-thin flexible electrode threads that record neural signals and transmit data to an external device for decoding.
  • Telepathy: BCI system focused on enabling people with severe paralysis to control computers, phones, keyboards, and other digital interfaces using thought alone.
  • Blindsight: Vision-restoration implant targeting individuals with certain forms of blindness, designed to stimulate the visual cortex and received FDA “Breakthrough Device” designation.
  • Signal Processing Software: Machine-learning-based neural decoding stack that interprets neural activity and translates user intent into cursor movements, clicks, and other commands.

Surgical & Robotics Infrastructure

  • Surgical Robot: High-precision robotic system placing ultra-thin threads into specific brain regions while avoiding blood vessels, designed to increase consistency and reduce surgical risk.
  • Bidirectional Interfaces (Long-Term Goal): Platform under development for not only reading signals but also delivering stimulation, enabling future applications in vision restoration, movement, and potentially other neurological indications.
  • Scalable Manufacturing: Ongoing build-out of production capacity for implants and robots, aimed at supporting thousands to tens of thousands of procedures annually if clinical and regulatory milestones are met.
 Market Position & Strategic Advantage

Position in Neurotechnology & Medical Devices

  • Operates within the emerging brain-computer interface segment of the medical device market, alongside established neurostimulation and neuromodulation technologies.
  • Targets high-unmet-need populations, including individuals with severe paralysis, spinal cord injuries, ALS, and certain forms of blindness, where existing treatment options are limited.
  • Competes and collaborates in a landscape that includes academic research groups, medical device companies, and other BCI startups pursuing both invasive and non-invasive approaches.

Differentiators & Moats

  • Full-Stack Architecture: Integrates implant hardware, custom electronics, surgical robotics, and decoding software into a single system rather than offering only one layer of the stack.
  • High Channel Count & Wireless Design: Uses thousands of channels with a fully implanted wireless device, positioning it at the high-bandwidth end of current BCI efforts.
  • Regulatory & Clinical Progress: Early human implants, plus multiple FDA Breakthrough designations, differentiate Neuralink from earlier-stage concepts that are still pre-clinical.
Financial Opportunity

Market Opportunity

  • Addresses large potential patient populations across paralysis, spinal cord injury, ALS, and certain forms of vision loss, where even partial restoration of function can be clinically meaningful.
  • Investor documents reported in the press outline an internal goal of operating multiple specialized clinics and performing roughly 20,000 implant procedures annually by 2031.
  • Those same materials describe a target of at least $1B in annual revenue by 2031 from products such as Telepathy and Blindsight, subject to regulatory approval, clinical performance, and reimbursement; these are projections, not guarantees.

Growth Drivers

  • Drivers: Successful clinical outcomes, regulatory approvals across multiple indications, increased clinic capacity, and potential insurance reimbursement could support revenue growth.
Company Snapshot

Founded: 2016

Headquarters: Fremont, California, USA

Founders: Elon Musk and a team of neuroscientists and engineers

Latest Round: $650M Series E (June 2025)

Latest Reported Valuation: ~$9B (pre-money, 2025; media and investor reports)

Total Capital Raised: ~$1.3B (including Series E; estimated)

Regulatory Status: FDA “Breakthrough Device” designations for Blindsight (vision restoration) and a speech restoration device

Clinical Stage: Early human trials underway; first human implant announced January 2024

2031 Revenue Target: ~$1B annual revenue (internal projections reported in investor documents; not guaranteed)

Primary Focus: Implantable brain-computer interfaces for paralysis, vision loss, and related neurological conditions

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About Neuralink

Neuralink is a neurotechnology company founded in July 2016 by Elon Musk, Max Hodak, and Paul Merolla. The company’s mission is to develop advanced brain-machine interface (BMI) technology to enhance human cognition and address neurological conditions.

Neuralink aims to create a direct interface between the human brain and computers, allowing for seamless communication and interaction. The company’s primary focus is on developing devices that can help individuals with paralysis and other neurological disorders regain functionality and improve their quality of life.

The core concept behind Neuralink’s technology is a small chip, known as the Neuralink device, which is implanted in the skull and connects to electrodes that fan out into the brain tissue. These electrodes can both record and stimulate brain activity, enabling bidirectional communication between the brain and external devices.

One of the key objectives of Neuralink is to improve the bandwidth and efficiency of communication between the brain and external devices. By capturing and interpreting neural signals with high precision, the Neuralink device has the potential to enable people to control computers, prosthetics, and other devices directly with their thoughts.

In addition to its applications for individuals with disabilities, Neuralink’s technology also holds promise for enhancing human cognition and unlocking new possibilities in areas such as virtual reality, artificial intelligence, and human-machine symbiosis.

Neuralink has made significant advancements in its technology since its founding, and the company continues to conduct research and development to refine its BMI technology. While the technology is still in its early stages and faces various technical and regulatory challenges, Neuralink has generated significant interest and excitement for its potential to revolutionize the field of neurotechnology and improve the lives of individuals with neurological conditions.