Synchron: Melbourne University's Neuralink Rival
Synchron was founded in 2012 as a spin-out from the University of Melbourne by Dr. Tom Oxley, Prof. Nicholas Opie, and Dr. Rahul Sharma. The company partnered with the Royal Melbourne Hospital and the Florey Institute of Neuroscience and Mental Health to develop the Stentrode, a brain-computer interface (BCI) device designed to help severely paralyzed individuals control digital devices using their thoughts.
Innovative Stentrode Technology
The Stentrode avoids open brain surgery by using a technique similar to cardiovascular stents, which drastically shortens patient recovery time. It interfaces with the motor cortex through blood vessels, wirelessly recording and transmitting neural signals to enable hands-free digital device control.
Funding and Investors
- The latest funding round was led by Double Point Ventures.
- Existing investors include ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, and METIS.
- New investors in this round are NRF, T.Rx Capital, Qatar Investment Authority (QIA), K5 Global, Protocol Labs, and IQT.
Synchron has now raised a total of US$345 million. Notably, Jeff Bezos and Bill Gates previously supported the company’s A$110 million Series C round in 2022.
Competition with Neuralink
Synchron’s Stentrode is a notable competitor to Elon Musk’s Neuralink, both aiming to translate brain activity into digital commands for patients. Musk reportedly attempted a deal with Synchron in 2022 during challenges faced by his own company.
"The Stentrode rivals Elon Musk’s brain implant company Neuralink in helping people translate brain activity into digital commands. Musk reportedly tried to cut a deal with Synchron back in 2022 as his own company struggled to deliver on its ambitions."
Summary: Synchron’s minimally invasive Stentrode device marks a major advance in brain-computer interfaces, backed by prominent investors and positioned as a strong rival to Neuralink in the emerging neurotechnology market.