NRFC Backs Mind-Controlled Tech as Synchron Raises $308 Million
Melbourne-based neurotechnology company Synchron has raised US$200 million (AUD$308 million) in its Series D funding round. The round included a US$54 million investment from Australia’s National Reconstruction Fund Corporation (NRFC).
Founded in 2016 by Nicholas Opie, Tom Oxley, and Rahul Sharma, Synchron is advancing a brain-computer interface (BCI) known as the Stentrode. This innovative implant enables users to control external devices using their thoughts, eliminating the need for open-brain surgery.
How the Stentrode Works
The device is introduced through a small incision in the neck and travels via the jugular vein to a blood vessel near the brain’s motor cortex, the region responsible for movement control. Once positioned, it captures neural signals linked to the user's thoughts. These signals are then transmitted to an antenna placed under the chest skin, allowing wireless communication with computers, smartphones, and other devices.
“We’ve built the first non-surgical brain-computer interface designed for everyday life for people with paralysis,” said founder and CEO Tom Oxley.
Next Steps and Impact
The latest funding will accelerate clinical trials, support preparations for the commercial rollout of the Stentrode system, and allow Synchron to expand its team of engineers, neuroscientists, and operators. The technology holds promise for restoring digital independence to people living with paralysis.
Author’s summary: Synchron’s $308 million funding milestone strengthens its mission to make non-surgical brain-computer interfaces accessible for everyday use, with support from Australia’s NRFC.