Tether invests $200 million in Blackrock Neurotech, a top rival of Elon Musk’s Neuralink
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Tether, the company behind the largest stablecoin by market cap, has invested $200 million in Blackrock Neurotech, one of the major competitors of Neuralink, Elon Musk’s brain-chip company. With this move, Tether has become Blackrock Neurotech’s major stakeholder.
According to a press release published today, the investment was made through Tether Evo, Tether’s venture division. This marks a significant move into the Brain-Computer Interface (BCI) technology sector.
Blackrock Neurotech, founded in 2008, is at the forefront of BCI technology, developing neural implants that aid individuals with paralysis and neurological disorders. The company is known for its MoveAgain BCI system designed for home use, allowing patients to control devices with their thoughts.
In May 2021, Blackrock Neurotech closed a $10 million financing round led by Christian Angermayer’s re.Mind Capital with participation from Peter Thiel, German entrepreneur Tim Sievers, and Sorenson Impact’s University Venture Fund II.
The firm also achieved a historic milestone when its patient, Nathan Copeland, used a BCI to fist bump former President Barack Obama.
The $200 million investment from Tether will fund the commercialization of Blackrock Neurotech’s medical solutions and support its R&D efforts to maintain its position as a leading BCI company.
Paolo Ardoino, CEO of Tether, expressed the company’s commitment to technologies that improve the quality of life for those with neurological conditions and expand the applications of their technology.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential. Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement,” said Ardoino.
Florian Solzbacher, Co-Founder of Blackrock Neurotech, emphasized the importance of visionary partners in advancing healthcare technologies.
“My life’s dream has been to help and restore function in people who lost it and to advance technologies that revolutionize healthcare and the world around us. This ambitious, long-term endeavor requires dedicated and visionary partners. With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn´t dream of a better partner than Tether to bring our shared vision to life,” said Solzbacher.
Tether’s venture in Blackrock Neurotech is part of its broader strategy to support innovative technologies through its newly launched divisions, including Tether Power, Tether Edu, and Tether Data, each focusing on different aspects of technological advancement and human potential.
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