The National Reconstruction Fund Corporation (NRFC) is taking an AUD $54 million equity stake in Synchron, a medical device company that produces minimally invasive Brain-Computer Interface (BCI) devices. 

Synchron’s Stentrode BCI device will allow severely paralysed people to control digital devices with just their thoughts, enabling them to text their loved ones, control electronic appliances and digital devices, and perform simple household tasks for themselves. Crucially, the BCI device does not require open brain surgery and instead mimics the approach used in cardiovascular stents.  

The technology is the first of its kind in the world and the NRFC’s funding will be used to conduct final clinical trials and secure U.S. regulatory approval for the device. As it moves from clinical trials to large scale commercial deployment, NRFC funding will also help the company establish a commercial hub in Australia, with plans to conduct clinical trials for its technology in Australia.   

NRFC CEO David Gall said, “Synchron’s BCI device has the potential to dramatically improve the lives of an estimated 14 million people around the world who have lost functional independence due to severe motor impairment. Synchron’s minimally invasive BCI technology is the first of its kind in the world, and we are proud to be investing in such groundbreaking Australian technology.  

“Investing in Synchron also helps to commercialise Australian innovation and technology, contributing to our sovereign medical capability and helping to create highly skilled jobs for Australians in the future.”  

Synchron was established in Australia in 2012 by Australian clinicians and scientists Tom Oxley, Nicholas Opie, and Rahul Sharma.  

“We founded Synchron in Australia with the belief that restoring independence to people living with severe motor impairment would require both bold science and practical engineering,” said Tom Oxley, CEO & Founder, Synchron.  

“NRFC’s investment is a validation of that vision and of the pioneering Australian innovation that underpins our technology. This support will help us move through our final clinical trials, advance toward U.S. regulatory approval, and establish a strong commercial hub in Australia. Most importantly, it brings us closer to delivering life-changing brain-computer interface devices to millions of people worldwide who are waiting for a solution.” 

Synchron is the only BCI company in the world that has collaborations with tech giants like Apple, Nvidia, Amazon, and Open AI. The company’s status as an industry pioneer means that it will likely set the standards for BCI integrations with products such as iPhone, Apple Vision Pro, and Chiral AI – the world’s first cognitive AI.  

Synchron’s long-term vision is to train AI directly on the cognitive functions of the brain, eventually allowing for the development of AI that understands and synthesizes human cognition in real time without human input.  

NRFC is a key investor in Synchron’s AUD $305 million Series D funding round and investors include Double Point Ventures, QIA, IQT, K5 Global, 3C AGI, T.Rx Capital, Protocol Labs and others.  Synchron’s existing investors include ARCH Ventures, Gates Frontier, Bezos Expeditions, Khosla Ventures NTI and METIS.  

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Video footage demonstrating Synchron’s technology is available here:   

 

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 Synchron 

Synchron is the category-defining brain-computer interface (BCI) company pioneering implantable neurotechnology designed to restore autonomy and improve lives. Its mission is to bring the first commercially scalable BCI to millions of people with motor impairment. Synchron has completed two human clinical trials since 2019 and is preparing for a larger-scale study. The company’s implantable BCI is now powered by Chiral AI™, a proprietary foundation model of cognition. With the BCI market projected to reach $400 billion (Morgan Stanley), Synchron is leading the field while prioritizing ethical development grounded in Cognitive Liberty and the protection of fundamental rights. Synchron is headquartered in New York. Learn more at synchron.com(Opens in a new tab/window) and follow @synchroninc.