Elon Musk’s brain-tech venture Neuralink is once again in the spotlight, this time for a potential funding round that could value the company at a staggering $8.5 billion. The figure represents a more than twofold increase from its last reported valuation of $3.5 billion in late 2023, reflecting growing investor interest in brain-computer interface (BCI) technologies.
According to reports, Neuralink is in early discussions to raise about $500 million in fresh capital. While the round has not been finalised, the sheer size and ambition of the valuation signal a bold move as the company proceeds with human trials of its implantable brain chip.
Founded in 2016, Neuralink aims to create a direct interface between the human brain and computers, enabling users to control digital devices purely with neural signals. The company made headlines in 2024 after successfully implanting its first chip in a human patient. Initial demonstrations showed the patient playing video games and moving a computer cursor using only their thoughts, a feat that represents a major milestone for neural interface technology.
However, behind this excitement lies a more complex picture, one that encompasses safety risks, regulatory challenges, and intensifying global competition.
Is innovation outpacing safety?
While Neuralink’s early clinical results are impressive, they are also raising questions about the pace and caution of its innovation. Recent reports suggest that the company encountered issues shortly after implanting its device in the first human subject. The tiny electrode threads that connect the chip to the brain began to retract from their intended positions, potentially impairing the device’s effectiveness.
This is not the first time safety concerns have been raised about Neuralink’s processes. Previous allegations have included rushed animal trials, regulatory complaints, and a general lack of transparency regarding long-term testing. What’s particularly troubling about the electrode thread issue is that Neuralink was reportedly aware of the risk for several years prior to human testing, according to investigative sources.
Critics argue that such incidents highlight the tension between rapid innovation and responsible development. Brain implants are not merely software, and they interface directly with delicate neural structures, where precision is critical and damage can be irreversible. In such a context, ethical and clinical safeguards become as important as the technology itself.
Yet, despite these concerns, Neuralink continues to attract investor attention. The valuation jump and ongoing trials suggest that backers believe in the long-term potential of BCI to redefine how humans interact with machines and perhaps even how we treat neurological disorders.
European and UK startups in the competitive arena
While Neuralink may dominate headlines, it’s far from the only player in the brain-tech space. Across Europe and the UK, a growing ecosystem of startups is quietly building the foundations of a more measured and medically grounded BCI industry. Here are three rivals making waves:
MindMaze (Switzerland)
Founded in 2012 and based in Lausanne, MindMaze has developed a neurotechnology platform that blends virtual reality, motion capture, and neuroscience to aid in cognitive and motor recovery. Its solutions are already being used in hospitals for stroke rehabilitation and spinal cord injury recovery. Unlike Neuralink’s invasive approach, MindMaze relies on non-invasive brain-signal detection and immersive interfaces to stimulate neuroplasticity, a method that is safer and already commercially viable. The company raised $105 million for it’s neurotech offering.
BIOS Health (UK)
Cambridge-based BIOS Health focuses on treating chronic diseases by decoding and modulating signals between the brain, nervous system, and organs. Using AI-driven insights from neural data, BIOS is developing closed-loop therapies that respond to physiological changes in real time. Their neural interface platform, while more medically oriented than Neuralink’s consumer-focused vision, could provide a safer path to long-term integration of AI and biology.
Neurable (UK)
Initially launched in the US and now expanding in the UK, Neurable specialises in wearable brain-computer interfaces that enhance productivity, especially in gaming and extended reality environments. Its non-invasive headsets read brainwaves, allowing users to interact with virtual environments hands-free. Although still in its early stages, Neurable’s technology has strong appeal in consumer tech and offers a gentler alternative to Neuralink’s surgical implants.
The future of BCIs: Innovation vs responsibility
The BCI space is at a crossroads. Neuralink’s boldness is pushing the boundaries of what’s possible, but its safety record and high-risk approach are also drawing scrutiny. In contrast, European startups are moving more cautiously, striking a balance between innovation and clinical responsibility, and often opting for non-invasive solutions.
Ultimately, the future of BCI technology will depend not only on technical breakthroughs but also on the development of ethical frameworks, effective regulatory oversight, and sustained public trust. For Neuralink, reaching an $8.5 billion valuation might be a vote of confidence from investors but it doesn’t absolve the company from the responsibility of addressing safety head-on.
Meanwhile, the rise of thoughtful competitors from the UK and Europe suggests that there is room for a more collaborative and diverse ecosystem, one that values not just performance, but also patient well-being and long-term viability.
As the field evolves, one thing is clear: the brain-tech race is on. But in this race, speed alone won’t determine the winner; precision, trust, and accountability will.
