NRF Invests $54 Million in Neuralink Rival Synchron
Founded in 2012 as a spin-out from the University of Melbourne by Dr Tom Oxley, Prof Nicholas Opie, and Dr Rahul Sharma, Synchron develops advanced brain-computer interface (BCI) devices. Working with the Royal Melbourne Hospital and the Florey Institute of Neuroscience and Mental Health, the team created the Stentrode — a minimally invasive implant designed to help people with severe paralysis interact with digital technology using only their thoughts.
Unlike systems that require open brain surgery, the Stentrode is delivered via blood vessels using a method similar to that of cardiovascular stents. This reduces recovery times and surgical risks. The device connects with the motor cortex through vascular channels, recording and transmitting brain signals wirelessly to control external devices.
Synchron’s recent $305 million Series D round was led by Double Point Ventures, joined by ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, METIS, and new participants including the NRF, T.Rx Capital, Qatar Investment Authority, K5 Global, Protocol Labs, and IQT. With this round, the company’s total funding has reached $345 million.
Jeff Bezos and Bill Gates previously supported Synchron’s A$110 million Series C in 2022.
The Stentrode directly competes with Elon Musk’s Neuralink, both aiming to transform brain activity into digital commands. Reports suggest that Musk attempted to collaborate with Synchron in 2022, as Neuralink faced technical and regulatory challenges at the time.
Author Summary
Synchron, a University of Melbourne spin-out backed by global tech investors, advances its Stentrode BCI, drawing strong attention as a key competitor to Elon Musk’s Neuralink.