Elon Musk’s Neuralink raises additional $43M for Series D
Neuralink, a neurotechnology company founded by Elon Musk, raised an additional $43 million in a Series D funding round, according to filings with the Securities and Exchange Commission.
In August, Neuralink raised $280 million in the Series D funding round led by Peter Thiel’s venture capital firm Founders Fund. The $43 million brings the round's total to $323 million.
Neuralink, founded in 2016, has developed an implantable chip designed to connect brain activity to a computer. Neuralink won approval from the Food and Drug Administration in May to run human clinical trials and the company began recruiting participants in September. It has only run trials with animals, which drew scrutiny from U.S. lawmakers after 1,500 animals died under Neualink's care, according to a report from Reuters.
Treating the human brain has historically presented a challenge for researchers and clinicians. But digital health companies are increasingly using artificial intelligence, connected sensors and non-invasive and invasive devices to capture data on the brain and offer patient-specific treatments. Optimism persists that the emerging technology can ‘change the paradigm’ for neurologists.
Intuitive Ventures closes $150M fund
Intuitive Ventures, a venture capital arm of robotics manufacturer Intuitive Surgical, closed a $150 million fund on Monday.
The venture capital company said its second fund will invest in companies focused on improving care access and coordination, precision diagnostics and healthcare data. Some of its portfolio companies include surgical artificial intelligence company KelaHealth and lung health company Optellum.
The venture capital arm was launched in 2020 with a $100 million fund. The latest fund will draw on the parent company’s network and corporate oversight, Intuitive said in a release.
Murielle Thinard McLane will lead the fund, a position previously held by Dr. Oliver Keown, who will continue as a venture partner with the firm while working on a startup that remains in stealth.
Medical software company nabs $14M
Ketryx, a medical software company focused on managing compliance with the FDA, closed a $14 million Series A funding round.
Lightspeed Venture Partners led the round with support from venture capital firms E14 Fund and Ubiquity Ventures.
In a blog post, Ketryx CEO Erez Kaminski said the funding will allow the company to scale operations. Kaminski said Ketryx will be hiring for dozens of positions throughout the company next year.
Data privacy company funded by PayPal's venture arm
Mine, a data privacy company, raised $30 million in a Series B funding round.
The round was co-led by venture capital company Battery Ventures and financial services company PayPal’s venture arm.
Mine, which works within healthcare and other industries, says it software allows for data assessment automation. Mine also says its software can help companies navigate the changing levels of state legislation affecting data privacy.
Corporate venture funds from insurer Nationwide Ventures and financial services company MassMutual also participated in the round along with Gradient Ventures, which is associated with Google.
AI-focused wellness startup secures $6M in new funding
BetterYou, a digital wellness company focused on employee and student wellness, raised $6 million in a Series A funding round.
Capital Midwest led the round with additional funding from Mairs & Power, Great North Ventures, North Coast Ventures and NelNet.
BetterYou said it will use the funds to accelerate growth in its business while adding additional sales, marketing and software development employees. The company said in a release it will continue to refine its mobile user experience.