Despite facing a series of controversies, Elon Musk's brain implant startup, Neuralink, has secured an additional $43 million in funding.
What Happened: Neuralink's funding was increased from $280 million to $323 million in early August. As per the SEC filing published last week, 32 investors participated, and according to TechCrunch Peter Thiel's Founders Fund led the round.
Founded in 2016, Neuralink has gained recognition for developing implantable chips capable of reading brain waves. The company's groundbreaking contribution is manufacturing these implants wirelessly and increasing the number of implanted electrodes.
However, Neuralink has found itself amid controversies, facing criticism over alleged unethical research practices and a toxic workplace culture.
Earlier this month, U.S. lawmakers called for an SEC investigation into the company following allegations of animal mistreatment during testing. These lawmakers believed that Neuralink may have misled investors about the safety of its brain implant technology.
Moreover, Musk's startup has also been under federal investigation by the U.S. Department of Agriculture or USDA for nearly a year over possible animal welfare violations.
While the USDA found "no evidence" of such breaches, the Physicians Committee for Responsible Medicine or PCRM has disputed these results.
Why It Matters: Previously, it was reported that Musk has also been discussing the potential of merging Neuralink with Tesla Bots to create ultra-realistic bionic limbs for amputees.
Meanwhile, Musk's company has specified criteria for interested participants who are interested in human trials. They must be 18 or older and have conditions such as quadriplegia, paraplegia, visual or hearing impairment, aphasia, or major limb amputation.