Bezos and Gates back Synchron in drive for brain implant breakthrough

Last March, brain-computing interface expert Tom Oxley sat down to dinner with Amazon.com Inc. founder Jeff Bezos to talk about Oxley’s nascent company, Synchron Inc. That meal in Ojai, California, ended with something better than dessert: Bezos told Oxley that he wanted to invest in the business.
 

Synchron said Thursday it completed a $75 million funding round, part of it from Bezos Expeditions. The financing was led by ARCH Venture Partners, and includes a check from Gates Frontier, the venture investment arm of Microsoft Corp co-founder Bill Gates, and others. Existing investors also participated, including Khosla Ventures — whose founder, Vinod Khosla, introduced Oxley to Gates.
 

Brain-computer interfaces, known as BCIs, can interpret and stimulate parts of the brain and are seen as a possible treatment for brain injuries. New investors approached Synchron “through the lens of making an impact in neurology in an area of need,” Oxley said in an interview. They “saw BCI as a future therapeutic.” About 100 million people globally have upper limb impairment, he said, and could benefit from the technology.
 

The cash brings Synchron’s total funding to $145 million. That places it behind Elon Musk’s Neuralink Corp. and Max Hodak’s Science Corp. on fundraising, according to research firm Pitchbook, but far ahead of most other BCI companies. 
 

Synchron’s Switch device aims to help paralyzed people, such as those with amyotrophic lateral sclerosis (ALS), communicate by controlling computer cursors with their minds.
 

The founder’s next big goal is launching an FDA pivotal trial, a necessary step for the Switch to be eligible for Medicare and insurance coverage. Winning that eligibility would put the company on a path toward future revenue.

Investors had a burst of enthusiasm for BCI startups in 2021, with some 49 deals attracting $568 million of investment, according to Pitchbook.