NRFC Supports Mind-Controlled Technology as Synchron Raises $308 Million
A neurotechnology company founded in Melbourne is advancing a brain implant that allows users to control devices with their thoughts. Synchron has secured US$200 million (AUD$308 million) in a Series D funding round, including $54 million from Australia's National Reconstruction Fund Corporation (NRFC).
Company Background and Technology
Established in 2016 by Nicholas Opie, Tom Oxley, and Rahul Sharma, Synchron is developing the Stentrode brain-computer interface (BCI), which converts brain activity directly into digital commands. Unlike traditional approaches, this device avoids open-brain surgery.
How the Stentrode Works
- The Stentrode is inserted via the jugular vein through a small neck incision.
- It is guided to a major blood vessel near the brain’s motor cortex—responsible for planning and controlling movement.
- The device reads neural signals generated by the patient’s thoughts.
- Signals are transmitted wirelessly to a small antenna implanted under the skin of the chest.
- The antenna connects to external devices like computers and smartphones.
Future Plans with the New Funding
The new capital will advance clinical trials, support the commercial launch of the Stentrode system, and enable Synchron to grow its team by hiring engineers, neuroscientists, and operational staff.
“We’ve built the first non-surgical brain-computer interface designed for everyday life for people with paralysis,” said founder and CEO Tom Oxley.
Synchron’s innovative approach promises to expand accessibility to brain-controlled technology, offering new independence for people with paralysis.