Merge Labs raises about $250M seed at an $850M valuation, with OpenAI writing the largest check

Merge Labs/Ultrasound and molecular BCI

Merge Labs closed its seed round at approximately $250 million with an $850 million post-money valuation, led by OpenAI's largest investment. Bain Capital and tech entrepreneur Gabe Newell also invested in the brain-interface lab pursuing molecular and ultrasound-based approaches to BCIs.

• Seed round raises ~$250M at $850M valuation with OpenAI making largest single investment.
• Other investors include Bain Capital and Gabe Newell; total backing from tech and venture leaders.
• Funds develop molecular-based BCIs using ultrasound to enable safe, high-bandwidth brain interfaces.