Neuralink, a brain-computer interface startup founded by Elon Musk, has successfully closed a funding round worth $650 million, as announced in a recent blog post on Monday. This Series E funding round saw participation from prominent investors including ARK Invest, Founders Fund, Sequoia Capital, and Thrive Capital, among others.

The company’s previous funding round was a $280 million Series D in 2023, which was later supplemented with an additional $43 million investment a few months later. Since then, Neuralink has achieved significant advancements in its brain chip technology.

According to the company, it has now expanded its human clinical trials, successfully implanting its brain chips in five individuals suffering from severe paralysis. Furthermore, in May, Neuralink received breakthrough device designation from the U.S. Food and Drug Administration, a program designed to accelerate the development, assessment, and review of experimental technologies.

As reported by Semafor last week, this latest funding deal values Neuralink at approximately $9 billion pre-money.