The National Reconstruction Fund or NRFC is taking a $20 million preferred equity stake in Australian neuroscience company Omniscient Neurotechnology. 

Omniscient (o8t®) is a global leader in connectomics, leveraging AI to decode the complexity of the human brain by meticulously mapping individuals’ brain connections. 

The company’s technology uses Artificial Intelligence to generate highly detailed maps of the human brain from Magnetic Resonance Imaging (MRI) scans, allowing neurosurgeons to personalize treatment plans based on patients’ brain maps rather than generalised anatomical diagrams.

Omniscient’s proprietary platform, Quicktome® has been approved by the U.S. Food and Drug Administration and is already in use at major hospitals and research institutions around the world. NRFC funding will be used to further commercialise Quicktome, grow Omniscient’s data science team, and develop next generation clinical applications for its technology.

NRFC CEO David Gall said, “Omniscient’s groundbreaking brain-mapping technology is already improving patient outcomes worldwide and we are proud to be investing in an Australian company that is leading the world in medical AI.” 

“Omniscient was founded in Sydney in 2019 and NRFC funding will help to ensure that its valuable intellectual property rights remain in Australia while it continues to grow and expand around the world.” 

“Connectomics is an exciting new field and supporting Australian companies like Omniscient improves healthcare outcomes, and ensures that the country remains a leader in advanced medical technology, and creates highly skilled jobs in Australia.” 

Omniscient’s proprietary technology was developed in Australia and the company has a five-year plan to create a connectomics centre of excellence in Sydney as well as expand its footprint in the U.S. The company currently employs 16 people in Australia, and NRFC funding will help to create over 40 new highly skilled jobs across AI, neuroscience and product development.

Omniscient CEO & Managing Director, Stephen Scheeler said, “We are proud to partner with the NRFC to scale our Australian-developed technology globally. This investment will accelerate our mission to transform brain health by providing clinicians with the insights needed to avoid and address neurologic complications across patient care.” 

“By establishing a brain AI research and innovation centre of excellence in Sydney, we are ensuring that life-changing medical AI continues to be pioneered right here in Australia.”

NRFC is leading the Series D funding round with Australian venture fund OIF Ventures with Omniscient expecting to raise up to $36 million.

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About the National Reconstruction Fund Corporation (NRFC)

The NRFC is Australia’s sovereign investor in manufacturing capability. It has $15 billion to invest through direct loans, equity investments and loan guarantees across seven priority areas: renewables and low emissions technologies; enabling capabilities; defence capability; transport; value-add in resources; value-add in agriculture, forestry and fisheries; and medical science. 

The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.

For more information, visit nrf.gov.au.

NRFC media contact: media@nrf.gov.au

About Omniscient Neurotechnology

Omniscient (o8t®) is a world leader in using AI to decode the human brain, leveraging a field known as connectomics. We are an innovation hub creating advanced technologies to conquer the problems and enhance the potential of the human brain for the benefit of all humankind. Our mission is to improve the lives of billions through connectomics.

Today, Omniscient’s platform, Quicktome®, provides critical insights informing prognosis and planning across neurologic conditions, from cranial surgery and neuro-oncology to stroke and beyond. Tomorrow, Omniscient is poised to revolutionize brain health and help conquer conditions such as Alzheimer’s disease and depression through truly personalized brain medicine.

To learn more, visit o8t.com.

Omniscient media contact: media@o8t.com