Total amount raised
$130 Million
Latest funding date
12/1/2022
Location
Synchron has successfully raised funding over six rounds, with the latest being a Series D round. The company is backed by 32 investors, including notable names like Bezos Expeditions and Double Point Ventures.
Synchron's innovative brain-computer interface technology aims to empower autonomy and social connection for individuals with movement limitations. Keep reading to explore the intricacies of Synchron's fundraising journey and the investors backing this groundbreaking platform.
What Is Synchron?
Synchron, based in Brooklyn, New York, is a pioneering bioelectronics medicine company. Specializing in brain-computer interface (BCI) technology, Synchron develops neuromodulation solutions for previously untreatable nervous system conditions. The company operates in the fields of Information Technology, Manufacturing, Medical, and Medical Device industries.
Founded with the mission to empower autonomy and social connection, Synchron employs between 101 and 250 people. Their innovative BCI device allows users to control digital devices using their thoughts, utilizing a minimally-invasive endovascular procedure that avoids open brain surgery.
How Much Funding Has Synchron Raised?
- Series A
- Amount Raised: USD 10,000,000
- Date: April 2017
- Lead Investors: Neurotechnology Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and refine their brain-computer interface technology.
- Series B
- Amount Raised: USD 40,000,000
- Date: June 2021
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the launch of U.S. clinical trials for their brain-computer interface technology.
- Series C
- Amount Raised: USD 75,000,000
- Date: December 2022
- Lead Investors: ARCH Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and advance research and development.
- Series D
- Amount Raised: USD 200,000,000
- Date: November 2025
- Lead Investors: Double Point Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bring their solutions to market and expand their product pipeline.
Total Amount Raised: USD 325,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Double Point Ventures
- Details: Double Point Ventures is a venture capital firm that led Synchron's Series D round. They focus on investing in innovative technology companies.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Information not provided.
- ARCH Venture Partners
- Details: ARCH Venture Partners is a venture capital firm that participated in Synchron's Series C round. They are known for investing in early-stage technology companies.
- Investment Focus Areas: Biotechnology, life sciences, physical sciences.
- Notable Investments: Illumina, Alnylam Pharmaceuticals, Twist Bioscience.
- Khosla Ventures
- Details: Khosla Ventures is a Silicon Valley-based venture capital firm that led Synchron's Series B round. They are known for their investments in disruptive technologies.
- Investment Focus Areas: Technology, healthcare, sustainability, consumer sectors.
- Notable Investments: Square, DoorDash, Impossible Foods, Stripe.
- Neurotechnology Investors
- Details: Neurotechnology Investors is a venture capital firm that led Synchron's Series A round. They specialize in investments in the neurotechnology sector.
- Investment Focus Areas: Neurotechnology, medical devices.
- Notable Investments: Information not provided.
- Sigma Partners
- Details: Sigma Partners is a venture capital firm that participated in an early funding round for Synchron. They focus on early-stage technology investments.
- Investment Focus Areas: Technology, software, healthcare.
- Notable Investments: Information not provided.
What's Next for Synchron?
Synchron stands on the brink of transformative opportunities. With the launch of U.S. clinical trials for their Stentrode™ technology, the company aims to revolutionize the treatment of neurological conditions. This minimally invasive brain-computer interface could significantly impact patients with paralysis, epilepsy, and depression, among others. The potential market is vast, given the 60 patent applications covering various conditions.
Future fundraising appears promising as Synchron progresses through clinical trials. Success in these trials could attract substantial investments, enabling further development and commercialization. The growing interest in neurotechnology and minimally invasive medical solutions positions Synchron well for additional funding rounds and potential strategic partnerships.
However, challenges lie ahead. Regulatory hurdles, technical reliability, and competition from other BCI developers are significant obstacles. Ensuring the safety and efficacy of their technology will be crucial for gaining FDA approval and market acceptance. Despite these challenges, Synchron's innovative approach and robust patent portfolio offer a promising path forward.
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