Synchron Raises US$200 Million in Series D Financing
Synchron has secured US$200 million in a Series D funding round aimed at fast-tracking the commercialisation of its first-generation Stentrode brain-computer interface (BCI) platform. The investment will also support development of a "next-generation, transcatheter, high-channel whole-brain interface."
Funding Usage and Company Plans
The fresh capital will accelerate pivotal trials and prepare for the commercial launch of the Stentrode BCI system. According to a company press release, Synchron plans to expand its team by hiring engineers, neuroscientists, and operators to further advance its BCI technology.
Lead and New Investors
- The Series D round was led by Double Point Ventures.
- Existing investors include ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, and METIS.
- New investors comprise the Australian National Reconstruction Fund (NRF), T Rx Capital, Qatar Investment Authority (QIA), K5 Global, Protocol Labs, and IQT.
Total Funding So Far
This financing raises Synchron’s total funding to US$345 million, as noted in the recent company announcement.
"Synchron has raised US$200 million via a Series D financing round, with this funding set to be used to accelerate commercialisation of the company’s first-generation Stentrode brain-computer interface (BCI) platform while also advancing development of a “next-generation, transcatheter, high-channel whole-brain interface.”
Author's summary: Synchron’s latest funding round significantly boosts efforts to commercialize its Stentrode BCI system and innovate next-gen brain-interface technology.