Synergy has been actively involved in medical technology and venture capital since 1996.  We have participated in over $800 million in equity and other financial transactions for over 70 private U.S. medical technology companies through equity investment from our Synergy Ventures funds, and, through Synergy Partners International, establishment of strategic alliances, investments, or acquisitions involving US medical device companies and leading Japan medical device corporations.    Synergy Ventures seeks early stage investment opportunities in US medical device startups, with typical funding levels of $250K to $1M in our initial investment.

Synergy Ventures

Arkitekt Ventures is an early stage venture capital firm, with a mission to improve and advance human health. We specialize in backing founders building in Health & Bio from the earliest stages of company formation.

Arkitekt Ventures

IT-Farm is a venture capital firm which specializes in seed, start-up, and early stage companies. It primarily invests in mobile, big-data, connected car, IoT, OTT service, Helth care, Bio Tech and other IT industries. The firm actively invests in SF bay area and Japan, as well as other geometries including Asia and Europe. We support portfolio companies, especially on the partnership with Japanese enterprises.

IT-Farm

Dolby Family Ventures is an early stage venture firm focused on building great technology companies. They partner with best-in-class innovators and strong investment syndicate partners at the seed stage of a company’s development. Unlike many seed investors, They intend to continue to invest across future rounds in our successful portfolio companies.

Dolby Family Ventures

Loup Ventures is a research-driven venture capital firm based in Minneapolis and New York investing in frontier technology.

Loup Ventures

Alpha Edison is a venture capital firm that focuses on technology-driven innovation. The firm helps entrepreneurs to build a better world. Alpha Edison is an early-stage venture firm that partners with courageous entrepreneurs to build industry-changing technology platforms. It helps founders to create new markets, unlock latent demand, and scale businesses by sharing its research and expertise in business model innovation.

Alpha Edison

Fusion Fund supports early-stage entrepreneurs who are looking to build globally disruptive companies using innovative technologies to drive systemic change. They are entering the next wave of technological advancement and foundational innovation is required to enable massive growth.  With Fusion Fund’s technical and entrepreneurial backgrounds, we seek to support entrepreneurs who are building companies with strong technical barriers and advantages in their business models.

Fusion Fund

Wormhole Capital is the investment arm of Vivek Garipalli’s family office that invests at any stage from seed to growth rounds. It backs deeply independent thinkers with audacious dreams and relentless determination.

Wormhole Capital

Social Starts is a venture capital firm with a data-driven approach to investing in moment-of-inception and Series A financing rounds. The firm prefers to invest in early-stage companies operating in the technology, health tech, internet, and mobile tech sectors.

Social Starts

Prime Movers Lab is a venture capital firm that seeks to invest in startups reinventing energy, transportation, infrastructure, manufacturing, human augmentation, and agriculture.

Prime Movers Lab

On occasion, and in conjunction with our partners, we have made seed investments. The companies we consider have not yet received institutional funding and often fall outside of the lanes typically occupied by venture capital firms.

Wescott Inc.

What If Ventures invests in stigmatized verticals within the healthcare market. For too long, stigma has artificially suppressed demand for care in indications such as mental health, fertility, and many others.  Societal changes are creating markets where stigma once stood in the way of people getting the care they need. The firm was founded in 2019 by Stephen Hays, after his own personal struggles with mental health and addiction fueled his desire to see more funding for solutions in that space.  Since then, the firm has broadened its aperture and has deployed nearly $80mm into more than 60 disruptive healthcare startups.

What If Ventures

Pureland Venture

FJ Labs is a stage-agnostic investment firm that focuses on marketplaces and consumer-facing startups. Their investments are seed and series A. The investment range of the company is $50,000 to $5,000,000. It invests in Alibaba Group, Beepi, BrightRoll, Betterment, Adore Me, and Earnest.

FJ Labs

Westcott LLC is the family office of Carl Westcott and it invests in technology start ups an real estate.

Westcott LLC

Green Sands Equity is a boutique private equity investment firm focused on Growth Capital, Investment Advisory and Strategic Buyouts.

Green Sands Equity

15th Rock Ventures are investing Human Augmentation and IT field to create better future and lead a fulfilling life for the coming era of the 100-year lifespan, and focuses on seed and pre-IPO investments in sectors such as robotics, electronics, AR/VR, brain-machine interface, biotechnology, and IT.

15th Rock

Paradromics

Paradromics is bringing to market the first high data rate interface between brains and computers to create a new industry where medical challenges are met with technical solutions.

Paradromics is an Austin, Texas-based neurotechnology company developing a high data-rate brain-computer interface (BCI) called the Connexus Direct Data Interface (DDI). The Connexus DDI is designed to collect an unprecedented number of individual neural signals from the brain using a fully implantable device intended for long-term daily use.

You’ve heard of Neuralink. Meet the other companies developing brain

Brain-Computer Interface Companies

Paradromics raises $33M, wins FDA breakthrough nod for brain-computer interface tech

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Paradromics Raises $33 Million in Funding, Achieves Breakthrough Medical Device Designation from FDA

Paradromics: Brain-Computer Interface Company Secures $33 Million In Series A

Synchron, Potential Competitor to Elon Musk’s Neuralink, Obtains Equity Interest in Acquandas to Accelerate Development of Brain-Computer Interface

Mainstream Brain-Computer Interfaces Are Coming — Just Ask Synchron, Neuralink, Paradromics, and HackerBCI

Brain-computer interface developer Paradromics raises $33M

Neurotechnology: Top 5 Deals in the US in 2023

Bridging the gap between the human brain and computer

Brain-computer Interfaces

Paradromics is a pioneering neurotechnology company headquartered in Austin, Texas. It specializes in developing high data-rate brain-computer interfaces (BCIs), allowing direct communication between the human brain and external devices. Paradromics' flagship product, the Connexus Direct Data Interface (DDI), is a revolutionary BCI device designed for long-term daily use. It collects an unprecedented number of individual neural signals from the brain, enabling groundbreaking applications.

Connecting the Human Brain with DDI

Paradromics, Inc.

Transforming neurological care with innovation

Neurostimulation Tech

FDA brings Paradromics BCI into advisory program

Paradromics is an Austin, Texas-based neurotechnology company developing a high data-rate brain-computer interface (BCI) called the Connexus Direct Data Interface (DDI). The Connexus DDI is designed to collect an unprecedented number of individual neural signals from the brain using a fully implantable device intended for long-term daily use.
The first application of the Connexus DDI is an assistive communication device that translates brain signals into speech and movement in real-time. This revolutionary technology aims to restore the ability to communicate and interact with technology independently for people with conditions like ALS, spinal cord injuries, and stroke that cause severe motor impairment.
In May 2023, Paradromics raised USD 33 million in a Series A funding round led by Prime Movers Lab, with participation from Westcott Investment Group, Dolby Family Ventures, and Green Sands Equity. This investment will enable the company to launch its first-in-human clinical trial for the Connexus DDI.
Additionally, in a significant milestone, the US Food and Drug Administration (FDA) granted the Connexus DDI a Breakthrough Device Designation in May 2023. This designation recognizes the transformative potential of the device and allows for an expedited review process, accelerating its availability to patients.

Neuralink is a neurotechnology company founded by Elon Musk with the goal of developing brain-computer interfaces (BCIs). The company's flagship product is the N1 Implant, a coin-sized device that is surgically implanted in the brain. The implant contains 1,024 electrodes distributed across 64 ultra-thin threads that can monitor neural activity and electrically stimulate the brain. It wirelessly transmits brain data to external devices, allowing users to control computers or mobile devices directly with their thoughts.
Neuralink's initial focus is on providing digital freedom for people with quadriplegia by enabling them to interact with technology using neural signals. The N1 Implant will be placed in the motor cortex region of the brain that controls movement intention. As of March 2024, Neuralink has implanted its device in at least one human participant, allowing them to control a computer mouse cursor and play video games purely by thinking.
The implant surgery is performed using a custom robotic system developed by Neuralink. This surgical robot automatically inserts the electrode threads into the desired brain region with high precision. Neuralink claims the robotic implantation process aims to be as minimally invasive as procedures like LASIK eye surgery.
Key customers and partnerships
In November 2023, Neuralink announced its first clinical trial, dubbed the "Prime Study," to evaluate the N1 Implant's safety and functionality in human participants with quadriplegia caused by cervical spinal cord injury or amyotrophic lateral sclerosis (ALS). The study is expected to enroll participants aged 22 and older over a period of six years.
Neuralink has previously collaborated with the University of California, Davis to conduct animal testing of its brain implants on monkeys and other research animals. However, this partnership ended in 2020 amid allegations from an animal rights group regarding the treatment of monkeys during experiments.

Neuralink

Kernel is a neurotechnology company developing non-invasive brain imaging devices. Their flagship product, Kernel Flow, is a wearable headset that uses time-domain functional near-infrared spectroscopy (TD-fNIRS) technology to measure brain activity. Kernel Flow emits near-infrared light and detects changes in blood oxygenation levels in the brain's cortical areas, similar to functional magnetic resonance imaging (fMRI). However, it offers advantages such as portability, affordability, and the ability to measure brain activity in natural environments.
Kernel Flow features 52 modules arranged in four plates that fit on either side of the head. Each module contains two laser sources that generate picosecond pulses of light and six detectors that capture the reflected light. By recording the photon arrival times, the system can measure changes in oxyhemoglobin and deoxyhemoglobin concentrations, providing insights into brain function.
Kernel has conducted studies demonstrating the efficacy of Kernel Flow in various applications, including measuring the psychedelic effects of ketamine, predicting gaming expertise, and assessing cognitive decline. As of January 2022, the company had provided 50 systems to partners for evaluation and launched commercial sales for research teams.

Kernel

Synchron is a neurotechnology company developing an implantable brain-computer interface (BCI) system designed to enable patients with severe paralysis to wirelessly control digital devices through their thoughts and improve functional independence. Their flagship technology, the Stentrode, is an endovascular brain implant that is inserted into the brain's motor cortex via the jugular vein using a minimally invasive endovascular procedure, eliminating the need for open brain surgery.
The Stentrode contains electrodes that detect motor intent signals from the brain, which are wirelessly transmitted to an external device. Using machine learning algorithms and signal processing techniques, these neural signals are then translated into digital commands, allowing the user to control personal devices like computers and smartphones for tasks such as texting, emailing, online shopping, and accessing telehealth services.
In August 2020, Synchron received FDA Breakthrough Device designation, followed by the first Investigational Device Exemption (IDE) in July 2021 for evaluating a permanently implanted BCI. The company has conducted clinical trials in Australia and the US, with the first US implantation occurring in July 2022 at Mount Sinai Health System in New York. As of January 2023, Synchron reported that the Stentrode remained safe and functional in four Australian patients after 12 months, with no serious adverse events or significant signal deterioration.

Synchron

Cognixion is a leading developer of non-invasive Brain-Computer Interface (BCI) and Augmented Reality (AR) technology. Their flagship product, the Cognixion ONE Axon, utilizes electroencephalogram (EEG) technology to provide a non-invasive brain-computer interface. It enables patients with advanced disease progression, such as Amyotrophic Lateral Sclerosis (ALS), Motor Neuron Disease (MND), traumatic injuries, and cerebral palsy, to communicate their responses with their thoughts and mental attention in a wearable, augmented reality headset.
The Cognixion ONE Axon integrates Artificial Intelligence (AI), including GPT large language models, to rapidly support the user's communication intentions and desired outcomes. It provides contextual predictions and suggestions that can be quickly selected and communicated audibly and visually on the front visor as a communication aid. The device aims to become the first FDA-cleared device allowing fully paralyzed or locked-in patients to communicate via a non-invasive brain-computer interface once eye-tracking is no longer usable due to ocular motor decline.
Cognixion's technology combines AI, Augmented Reality, and Assistive Technology, designed to help people with severe motor impairments communicate and interact more effectively and independently with the world around them. Unlike invasive BCI technologies, Cognixion's device can be prescribed and utilized without surgical procedures or significant training, providing a new level of independence and autonomy.
Key customers and partnerships
In May 2023, the Cognixion ONE Axon received US Food and Drug Administration (FDA) Breakthrough Device designation, which will streamline its development and validation process with prioritized feedback from FDA review staff. This designation is awarded to devices that demonstrate the potential to provide more effective treatment for life-threatening or debilitating conditions where no clear alternatives exist.

Cognixion

Non-invasive hardware typically involving wearable devices that can record, monitor and interact with brain activity using methods like electroencephalography (EEG), enabling the control of prosthetic limbs, operating computers, and more

Physical devices implanted in the body, often in the brain, to interface with neural signals such as electrodes or neural implants

Companies that offer software platforms for BCI applications, including cloud platforms that enables neural data storage

Companies that gather, store, analyze, and interpret neural data collected via BCIs in order to generate valuable insights for clinical decision making

Most BCI companies personalize the BCI devices based on the patient's condition and goals

Most BCI companies leverage a digital means of extracting and interpreting neural data, some of which use mobile applications to provide insights

The products/platforms offered by most companies utilize AI/ML in enhancing their offering

Paradromics is a pioneering neurotechnology company headquartered in Austin, Texas. It specializes in developing high data-rate brain-computer interfaces (BCIs), allowing direct communication between the human brain and external devices. Paradromics' flagship product, the Connexus Direct Data Interface (DDI), is a revolutionary BCI device designed for long-term daily use. It collects an unprecedented number of individual neural signals from the brain, enabling groundbreaking applications.
The Connexus DDI's first application is an assistive communication device that translates brain signals into speech and movement in real-time. This technology aims to restore social connection and enable independent engagement with technology for individuals with severe motor impairments caused by conditions like ALS, spinal cord injury, and stroke. By building a medical device to record directly from the brain, the Connexus DDI has the potential to restore communication and functional independence to thousands of people living with paralysis.
Beyond assistive communication, Paradromics' BCI platform holds promise for addressing a range of unmet medical needs, from motor and sensory deficits to chronic pain and mood disorders. The company's technology could revolutionize the treatment of neurological and brain-related conditions, allowing millions of people to lead happier, healthier, and more enriching lives.
In May 2023, Paradromics announced a USD 33 million Series A funding round led by Prime Movers Lab, with additional investors including Westcott Investment Group, Dolby Family Ventures, and Green Sands Equity. This investment will support the launch of Paradromics' first-in-human clinical trial for the Connexus DDI.
Furthermore, the US Food and Drug Administration granted the Connexus DDI a "Breakthrough Device Designation" in 2023, recognizing its transformative potential and offering an expedited review process. This designation and the recent funding validate Paradromics' leadership position among the small group of BCI platform companies on the verge of commercialization.

Aleva Neurotherapeutics is a medical device company specializing in deep brain stimulation (DBS) systems for treating neurological disorders such as Parkinson's disease and essential tremor. Based in Lausanne, Switzerland, the company was founded as a spin-off from the Swiss Federal Institute of Technology. Aleva pioneered the development of directional DBS leads with its flagship product, the directSTIM DBS system. This technology aims to deliver more precise electrical stimulation to targeted areas of the brain, potentially improving therapeutic benefits and reducing side effects compared to traditional omnidirectional DBS leads.
The directSTIM system features a novel 12-electrode lead design based on microelectromechanical systems (MEMS) technology. This allows for smoother electrode surfaces and customized shapes optimized for implantation in the brain. The system also incorporates 24 independent current sources, enabling greater flexibility in programming and personalizing stimulation patterns to each patient's unique needs. In May 2024, Aleva received CE marking for the directSTIM system, allowing its commercial launch in Europe.
Aleva's expertise in DBS technology is reflected in its robust intellectual property portfolio, comprising 13 patent families and 90 granted patents related to DBS for neurological and psychiatric disorders. The company aims to transform DBS therapy by combining advanced technologies with shared clinical data to improve surgical experiences and patient outcomes.

Aleva Neurotherapeutics

BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The company has developed Deep Transcranial Magnetic Stimulation (Deep TMS), a proprietary technology that uses magnetic pulses through a patented H-coil helmet to stimulate deeper and broader brain regions associated with various conditions.
Deep TMS received FDA clearance for treating major depressive disorder (MDD) in 2013, making BrainsWay the first and only TMS company with clinical evidence demonstrating efficacy for this indication. In 2018, the technology obtained FDA clearance for treating obsessive-compulsive disorder (OCD), and in 2021, it was cleared as an aid for short-term smoking cessation.
The Deep TMS treatment is administered through a series of daily sessions over four to six weeks, with each session lasting around 20 minutes. It has been investigated in over 30 randomized clinical trials worldwide, demonstrating its safety and effectiveness. As of April 2021, BrainsWay announced that 100,000 patients have been treated globally with Deep TMS.
In addition to the FDA-cleared indications, BrainsWay is conducting ongoing or planned clinical trials exploring Deep TMS for various psychiatric, neurological, and addiction disorders. The company's commitment to clinical research and building upon its substantial body of evidence positions it as a leader in advancing neuroscience through non-invasive solutions.

Brainsway

Cala Health is a bioelectronic medicine company that has developed the Cala kIQ system, a wearable neuromodulation device that delivers transcutaneous afferent patterned stimulation (TAPS) therapy for the relief of hand tremors in adults with essential tremor and Parkinson's disease. The Cala kIQ system comprises a stimulator, a band with integrated electrodes, and a base station. It utilizes a calibrated TAPS output pattern adjusted to match the patient's unique tremor frequency, providing personalized stimulation to the median and radial nerves of the wrist.
The Cala kIQ system received 510k clearance from the US Food and Drug Administration (FDA) in November 2022 and was launched for human use in June 2023. The device offers treatment sessions of 40 minutes, with a wristband life of 90 days and a shelf life of three months. Patients can review their therapy session results through the MyCala.com patient portal and share them with healthcare providers.
Cala Health has reported positive clinical data demonstrating the effectiveness of TAPS therapy in reducing tremors and improving activities of daily living for essential tremor patients. The company has secured reimbursement and coding from various commercial and government payors, including Medicare, to improve patient access to the therapy.

Cala Health

Cardionomic is a medical device company based in Minneapolis that has developed the Cardiac Pulmonary Nerve Stimulation (CPNS) System, an investigational device designed to treat patients suffering from acute decompensated heart failure (ADHF). The CPNS System consists of a stimulation console and an endovascular catheter that delivers targeted stimulation to the cardiac plexus located in the right pulmonary artery.
The company's approach is founded on the principle that stimulating the autonomic nerves improves a patient's clinical condition by triggering a rebalancing of the autonomic system, shifting it from an imbalanced state into a cycle that enhances the patient's condition even after the therapy is completed. The CPNS System has demonstrated the ability to increase cardiac contractility without significantly affecting heart rate in heart failure patients with reduced ejection fraction.
In January 2024, Cardionomic announced the completion of enrollment in the STIM-ADHF and STOP-ADHF pilot studies, which evaluated the safety and performance of the CPNS System in treating ADHF patients. A total of 35 patients were treated across seven countries. Preliminary results suggest that the CPNS therapy may address the unmet need for more effective treatment options for hospitalized heart failure patients. The pooled data from these studies is planned for publication in early 2024.
The CPNS System leverages engineered electrode surfaces from Pulse Technologies, Inc. to deliver durable electrochemical performance for the neural and cardiac interfacing applications.

Cardionomic

Charco Neurotech was founded in 2019 by Lucy Jung, an industrial designer who was inspired to develop assistive devices for Parkinson's after her own experience as a patient. The CUE1 is a small plastic disc with an electric motor that vibrates at a high frequency in a specialized pattern. This pattern, proven through research, can disrupt the overactive brainwaves that cause Parkinson's symptoms, allowing for improved movement.
The CUE1 attaches to the user's sternum using medical adhesive and is relatively inexpensive compared to other treatments like deep brain stimulation implants. Over 2,000 people in the UK are currently using the CUE1, with a waiting list of almost 20,000 across 120 countries as of March 2024. Charco has raised over USD 10 million in funding and grants, employing around 38 people across the UK, South Korea, and the US.
The device is accompanied by a smartphone app that enables users to personalize the stimulation settings and track their symptoms. Charco aims to obtain regulatory approvals for the CUE1 to be prescribed through healthcare systems like the NHS. In April 2023, Addenbrooke's Hospital in Cambridge became the first hospital to trial the device on inpatients with Parkinson's.
Key customers and partnerships
As of August 2023, over 1,700 people are benefiting from the CUE1 in the UK, and there is a waiting list of over 17,000 people worldwide. Charco has partnered with Dr. Alistair Mackett, a consultant geriatrician at Cambridge University Hospitals, to conduct trials and research on the device's effectiveness.

Charco Neurotech

Companies that offer solutions for pain management, neuropathies, and related disorders and migraines.

Companies that provide solutions for Parkinson's disease, epilepsy, and speech and movement disorders.

Companies that offer treatments for depression, Alzheimer's, and other mental health-related disorders.

Companies that offer solutions for heart-related medical issues such as acute decompensated heart failure and high blood pressure.

Companies that offer solutions for urinary or fecal incontinence, autoimmune diseases and other functional impairments

Companies that offer solutions for hearing or vision impairment, sleep-related conditions, and other disorders, including obesity treatments.

Paradromics

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