NRFC backs mind-controlled tech as Synchron raises $308m
A Melbourne-based neurotechnology company developing a brain implant that lets people control external devices through thought has secured US$200 million (AUD$308 million) in a Series D funding round.
Of that amount, $54 million was contributed by Australia’s National Reconstruction Fund Corporation (NRFC), highlighting national support for emerging neurotech industries.
Innovative brain-computer interface
Founded in 2016 by Nicholas Opie, Tom Oxley, and Rahul Sharma, Synchron is working on a brain-computer interface (BCI) known as the Stentrode. This device converts brain activity into digital commands without the need for open-brain surgery.
The Stentrode is inserted through the jugular vein via a minor neck incision and positioned within a major blood vessel near the motor cortex — the brain region that plans and controls movements. When in place, it captures neural signals that reflect a patient’s thoughts.
How the system works
These neural signals are transmitted to a small antenna implanted under the chest skin. The antenna then wirelessly communicates with external devices such as computers or smartphones, allowing thought-driven interaction.
Funding and future goals
The newly raised capital will advance clinical trials, prepare for the commercial release of the Stentrode system, and allow Synchron to grow its team with engineers, neuroscientists, and operators.
“We’ve built the first non-surgical brain-computer interface designed for everyday life for people with paralysis,” said founder and CEO Tom Oxley.
Author’s summary
Synchron’s breakthrough in brain-computer interfaces, backed by US$200 million funding, marks a major milestone toward practical mind-controlled technology for real-world use.