Synchron Raises US$200 Million in Series D Financing
Synchron has secured US$200 million in a Series D funding round to speed up commercialization of its first-generation Stentrode brain-computer interface (BCI) platform and to advance development of a next-generation, transcatheter, high-channel whole-brain interface.
Purpose of the Funding
The new capital will help accelerate pivotal clinical trials and prepare for the commercial launch of the Stentrode BCI system. The company also plans to expand its team by hiring engineers, neuroscientists, and operators to develop the next generation of BCIs.
Investors Involved
- Lead investor: Double Point Ventures
- Existing investors: ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, METIS
- New investors: Australian National Reconstruction Fund (NRF), T Rx Capital, Qatar Investment Authority (QIA), K5 Global, Protocol Labs, IQT
Total Funding
This latest investment raises Synchron’s total funding to US$345 million, according to the company’s recent announcement.
“Bolstered by this Series D funding, Synchron will continue hiring to advance the next generation of BCIs,” the company stated in its press release.
Author's summary: Synchron's recent US$200 million Series D round significantly boosts funding to progress commercial launch and innovation in advanced brain-computer interface technologies.