NRFC Supports Mind-Controlled Technology as Synchron Secures $308 Million
A neurotechnology company founded in Melbourne is developing a brain implant that enables people to operate external devices using their thoughts. Synchron has raised US$200 million (AUD$308 million) in a Series D funding round, with $54 million contributed by Australia’s National Reconstruction Fund Corporation (NRFC).
About Synchron and Its Technology
Established in 2016 by Nicholas Opie, Tom Oxley, and Rahul Sharma, Synchron is creating a brain-computer interface (BCI) named Stentrode. This device translates brain signals into digital commands without requiring open-brain surgery.
- The implant is inserted through a small incision in the neck into the jugular vein.
- It is guided to a blood vessel near the brain's motor cortex, the area controlling movement planning and execution.
- Once positioned, Stentrode detects neural signals generated by thought.
- Signals transmit wirelessly via a small antenna implanted under the chest skin to connect with devices like smartphones and computers.
Use of Funds and Future Plans
The newly raised capital will support ongoing trials, advance preparations for the commercial launch of the Stentrode system, and enable the company to grow its team with additional engineers, neuroscientists, and operational staff.
“We’ve built the first non-surgical brain-computer interface designed for everyday life for people with paralysis,” said Synchron founder and CEO Tom Oxley.
Synchron’s innovation offers a promising non-invasive solution for individuals with paralysis to regain control over technology through neural activity.
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