A new startup is aiming to revolutionize how wearable technology can provide drug free medicine.
What’s happening:
- Cambridge, Massachusetts based neuroscience startup Elemind has raised $12M USD in a seed round
- The financing saw notable participation from Village Global, Embark Ventures, Wharton’s Alumni Angels Fund and others
The big idea:
- Elemind uses wearable technology that is powered by artificial intelligence to provide a drug free, personalized approach to stimulating the brain to achieve therapeutic outcomes
- By being able to use technology and artificial intelligence to guide brainwaves in real time, Elemind is aiming to change behaviours in a way that is significantly more natural than traditional pharmaceuticals
By the numbers:
- Elemind’s technology is supported by 5 clinical trials
- Initial results have shown that Elemind’s wearable technology has been effective at inducing sleep up to 74% faster
- Elemind holds 3 critical patents to their technology around signal processing algorithms and neurostimulation techniques
Going deeper:
- Village Global, who was the first ever investor in Element, is backed by Jeff Bezos, Reid Hoffman, Bill Gates and others
- Elemind’s technology is designed to precisely redirect brain waves in order to have therapeutic effects that would ordinarily require medications
The intrigue:
- The founders of both Skype and Nest both personally participated in the round
