Total amount raised
$130 Millions
Latest funding date
Location
Synchron has successfully raised significant funding through multiple rounds, with its latest being a Series C round. The company is pioneering in the field of bioelectronics medicine, developing neuromodulation solutions for previously untreatable nervous system conditions.
Keep reading to explore the intricacies of Synchron's fundraising journey and the investors backing this innovative platform.
What Is Synchron?
Founded in April 2016, Synchron is a bioelectronics medicine company based in Brooklyn, New York. The company was established by Nicholas Opie and Thomas Oxley.
Synchron specializes in developing neuromodulation solutions for previously untreatable nervous system conditions. Their innovative technology includes brain-computer interfaces that allow individuals to control digital devices using their thoughts.
With a team of 101-250 employees, Synchron continues to push the boundaries of neurotechnology, aiming to improve the quality of life for people with severe disabilities.
How Much Funding Has Synchron Raised?
- Series A
- Amount Raised: $10M
- Date: April 2017
- Lead Investors: Neurotechnology Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and conduct early-stage research.
- Venture Round
- Amount Raised: $5M
- Date: January 2005
- Lead Investors: Sigma Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support foundational research and development efforts.
- Series B
- Amount Raised: $40M
- Date: June 2021
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch U.S. clinical trials for their brain-computer interface technology.
- Venture Round
- Amount Raised: Not disclosed
- Date: February 2022
- Lead Investors: Max Hodak
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand clinical trials.
- Series C
- Amount Raised: $75M
- Date: December 2022
- Lead Investors: ARCH Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and advance towards commercialization.
Total Amount Raised: $130M. Current Valuation: Not publicly disclosed.
Key Investors
- ARCH Venture Partners
- Details: ARCH Venture Partners is a venture capital firm that invests in the development of seed and early-stage advanced technology companies. They have a strong focus on life sciences and physical sciences.
- Investment Focus Areas: Advanced technology, life sciences, physical sciences
- Notable Investments: Illumina, Alnylam Pharmaceuticals, Unity Biotechnology
- Max Hodak
- Details: Max Hodak is the co-founder of Neuralink and an investor in various technology and healthcare startups. He is known for his work in brain-machine interfaces.
- Investment Focus Areas: Technology, healthcare startups
- Notable Investments: Neuralink, Paradromics
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. They are known for their investments in transformative technology and healthcare innovations.
- Investment Focus Areas: Healthcare, AI, sustainability
- Notable Investments: Square, DoorDash, Impossible Foods
- Neurotechnology Investors
- Details: Neurotechnology Investors is a specialized investment firm focusing on companies developing neurotechnology solutions. They support innovations that aim to improve neurological health.
- Investment Focus Areas: Neurotechnology
- Notable Investments: Paradromics, Kernel
- Sigma Partners
- Details: Sigma Partners is a venture capital firm that invests in early-stage technology companies. They have a history of supporting startups that go on to become industry leaders.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Fortinet, Responsys
What's Next for Synchron?
Synchron stands at the cusp of a transformative journey, with the opportunity to launch U.S. clinical trials for their Stentrode™ technology. This minimally invasive brain-computer interface could revolutionize treatment for conditions like epilepsy, depression, and Parkinson’s disease. The potential market is vast, with applications extending beyond medical uses to non-medical innovations.
Future fundraising will likely be essential as Synchron progresses through clinical trials and seeks to expand its technology. The company may attract more investors, driven by the promise of their groundbreaking neurointerventional products. However, challenges such as regulatory hurdles, technical refinements, and competition from other neurotechnology firms could pose significant obstacles.
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