Synchronization Raises $200 Million for Brain-Computer Interface Development
Synchronization has secured an additional $200 million in a Series D funding round, which the company plans to use for expanding operations and accelerating the commercialization of its nonsurgical brain-computer interface (BCI) designed for individuals with paralysis.
Synchronization announced Thursday that its Series D round was led by Double Point Ventures, with participation from existing investors including Arch Ventures, Khosta Ventures, Bezos Expeditions, NTI, and Metis. Additional contributors included the Australian National Reconstruction Fund, T.Rx Capital, Qatar Investment Authority, K5 Global, Protocol Labs, and IQT.
Funding Details and Industry Context
The total funding raised by New York-based medtech company Synchron now stands at $345 million. This investment growth occurs amid rising enthusiasm for BCI technology. Recently, other companies like Precision Neuroscience, focused on paralysis, announced partnerships to develop their cortical interface technologies. Additionally, a recent study revealed that Science Corp.'s PRIMA retinal implant restored some vision to patients with severe age-related macular degeneration.
Author's Summary
Synchronization's substantial funding boost highlights the increasing industry momentum toward brain-computer interfaces that aim to restore mobility and other functions for people with disabilities.