China Neuralink Rival Seeks Pre-IPO Funds at $1.3 Billion Value

BrainCo, a startup aiming to compete with Elon Musk’s Neuralink, is in talks to raise funds at a valuation of more than $1.3 billion ahead of a potential initial public offering in Hong Kong or mainland China.

The company founded in 2015 by Harvard alumnus Han Bicheng is in negotiations to secure about $100 million in pre-IPO financing, people familiar with the matter said. The startup has begun preparing documents for a market debut, though it hasn’t decided on venue or other details, the people said, asking to remain anonymous discussing private plans.