Brain-computer interface company Synchron raises $200M
Synchron, a New York-based brain-computer interface (BCI) company, secured $200 million in Series D funding, increasing its total capital raised to $345 million. Double Point Ventures led the round with contributions from existing investors ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, and METIS. New investors include the Australian National Reconstruction Fund (NRF), T.Rx Capital, Qatar Investment Authority (QIA), K5 Global, Protocol Labs, and IQT.
Use of Funds and Company Expansion
The company plans to utilize the funding to accelerate clinical trials and commercialization of its Stentrode BCI device. Synchron will also expand its operations in New York and San Diego. The New York office focuses on the cognitive AI division, which develops models that learn from brain data, while the San Diego site serves as the engineering hub.
Stentrode Brain-Computer Interface
Synchron's Stentrode is a non-surgical endovascular brain-computer interface designed to enhance mobility, communication, and independence for people with paralysis. The device is implanted via a catheter procedure, interfacing with the motor cortex through blood vessels. It records and transmits neural signals to translate brain activity into digital commands, enabling hands-free control of digital devices.
The Stentrode has been implanted in 10 paralysis patients participating in clinical trials in both Australia and the United States.
"Synchron's Stentrode BCI is a non-surgical endovascular brain-computer interface platform designed to help improve mobility, communication and independence for individuals with paralysis."
"It's placed in the brain via a non-surgical catheter procedure and translates brain activity into digital commands by interfacing with the motor cortex through the blood vessels."
Author's summary: Synchron secured $200M to advance its non-surgical brain-computer interface, aiming to boost trials, commercialize its technology, and expand AI and engineering operations in New York and San Diego.