Synchron Raises $200 Million to Advance Brain-Computer Interface for Paralysis
Synchron has secured $200 million in a Series D funding round to expand its operations and speed up the commercialization of its non-surgical brain-computer interface (BCI) designed to help people with paralysis.
Funding and Investors
The round was led by Double Point Ventures and included participation from existing investors such as Arch Ventures, Khosta Ventures, Bezos Expeditions, NTI, and Metis. Additional contributions came from The Australian National Reconstruction Fund, T.Rx Capital, the Qatar Investment Authority, K5 Global, Protocol Labs, and IQT.
This financing round brings Synchron’s total funding to $345 million, reflecting growing momentum in the BCI sector.
Industry Context and Developments
Other companies are also making progress in the BCI field. Precision Neuroscience recently announced a partnership with SCI Ventures, supported by the Christopher & Dana Reeve Foundation, to advance its Layer 7 Cortical Interface technology for paralysis.
Additionally, a recent study revealed that Science Corp.’s PRIMA BCI retinal implant successfully restored some vision in individuals suffering from severe age-related macular degeneration.
Synchron stated on Thursday, Nov., “We will use this funding to expand operations and accelerate commercialization of our non-surgical brain-computer interface for people with paralysis.”
Author’s summary: Synchron’s $200 million funding boost highlights the expanding progress and investment in non-invasive brain-computer interfaces to improve quality of life for people with paralysis.