Synchron Raises $200 Million in Series D Funding
New York-based brain-computer interface (BCI) company Synchron has secured $200 million in Series D funding, increasing its total capital raised to $345 million. The investment round was led by Double Point Ventures, with continued support from existing investors including ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, and METIS.
New Investors and Funding Use
- New participants in this round include the Australian National Reconstruction Fund (NRF), T.Rx Capital, Qatar Investment Authority (QIA), K5 Global, Protocol Labs, and IQT.
- Funds will be directed toward expanding in-house operations in New York and San Diego.
- Synchron aims to fast-track the clinical trials and commercialization of its Stentrode BCI device.
About the Stentrode BCI Device
Synchron's Stentrode is a non-surgical, endovascular brain-computer interface designed to enhance mobility, communication, and independence for people with paralysis. It is implanted via a catheter through blood vessels, enabling it to interface with the motor cortex by recording and transmitting neural signals.
"The BCI allows one to control digital devices hands-free and has been placed in 10 paralysis patients in clinical trials in Australia and the U.S."
Expansion Plans
- Operations in New York will focus on the cognitive AI division, which trains models based on brain data.
- The San Diego location serves as Synchron’s engineering hub.
Synchron is accelerating the development and application of its cutting-edge BCI technology to improve quality of life for individuals with paralysis.
Author's summary: Synchron’s latest $200M funding will boost clinical trials and scale operations in New York and San Diego to advance its innovative, non-surgical brain-computer interface for paralysis patients.