NRFC Backs Mind-Controlled Tech as Synchron Raises $308M
Melbourne-based neurotechnology company Synchron, developing a brain implant enabling people to control external devices with their thoughts, has secured US$200 million (AUD$308 million) in its Series D round. Australia's National Reconstruction Fund Corporation (NRFC) contributed $54 million to the financing.
Innovative Brain-Computer Interface
Founded in 2016 by Nicholas Opie, Tom Oxley, and Rahul Sharma, Synchron is working on a brain-computer interface (BCI) known as Stentrode. This device translates brain activity into digital commands without requiring open-brain surgery.
How the Stentrode Works
- The implant is inserted through the jugular vein via a small incision in the neck.
- It is guided into a blood vessel near the brain’s motor cortex, responsible for movement control.
- Once positioned, it detects neural signals generated by thought.
- Signals are transmitted to a subdermal antenna on the chest, which communicates wirelessly with computers or smartphones.
Funding and Future Goals
This new capital will support ongoing clinical trials, preparation for the Stentrode’s commercial debut, and hiring across engineering, neuroscience, and operations.
“We’ve built the first non-surgical brain-computer interface designed for everyday life for people with paralysis,” said founder and CEO Tom Oxley.
Author Summary
The Australian startup Synchron advances its non-surgical brain implant, securing $308M to bring mind-controlled technology closer to commercial reality.