NRF slings $54 million at Synchron, the Melbourne Uni rival to Neuralink that's just raised a $305 million Series D

Synchron's Origins and Innovation

Synchron was founded in 2012 as a spinout from the University of Melbourne by Dr. Tom Oxley, Prof. Nicholas Opie, and Dr. Rahul Sharma. The company emerged from a collaboration with researchers at the Royal Melbourne Hospital and the Florey Institute of Neuroscience and Mental Health.

The Stentrode Brain-Computer Interface

Synchron developed the Stentrode, a brain-computer interface (BCI) designed to help severely paralysed people control digital devices using only their thoughts. Unlike traditional brain implants, the Stentrode is inserted via blood vessels, avoiding open brain surgery and reducing recovery time significantly.

Recent Funding and Investors

Synchron recently closed a $305 million Series D funding round, bringing the company's total funding to US$345 million. The round was led by Double Point Ventures, with participation from existing investors ARCH Ventures, Khosla Ventures, Bezos Expeditions, NTI, and METIS. New investors include the National Reconstruction Fund (NRF), T.Rx Capital, Qatar Investment Authority, K5 Global, Protocol Labs, and IQT.

Competitive Landscape

The Stentrode directly competes with Elon Musk’s Neuralink in developing technology that translates brain activity into digital commands. Reports suggest Musk attempted to negotiate a deal with Synchron in 2022 as Neuralink faced challenges in meeting its goals.

"Synchron has developed the Stentrode, a BCI device that will enable severely paralysed people to control digital devices with just their thoughts. The device doesn’t require open brain surgery and instead mimics the approach used in cardiovascular stents, significantly reducing patient recovery time."
"The Stentrode rivals Elon Musk’s brain implant company Neuralink in helping people translate brain activity into digital commands."

Jeff Bezos and Bill Gates previously backed Synchron's A$110 million Series C round in 2022.

Author's Summary

Synchron, a University of Melbourne spinout, has raised $305M for its innovative non-invasive brain implant, challenging Neuralink in the race to enable thought-controlled digital devices.

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Startup Daily Startup Daily — 2025-11-07

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