Neurovalens secures £1.1m to launch its wearable health device and scale operations.
The funding round was led by the Angel CoFund, Beltrae Partners, and TechStart NI.
Share allotment filed at Companies House
Neurovalens develops wearable technology that combines neuroscience with medical applications to address health and metabolic issues.
Neurovalens has secured £1.1m in fresh capital to transition from prototype development to full production and expand its team in Northern Ireland. The round was supported by the Angel CoFund, Beltrae Partners, and existing backer TechStart NI, bringing the company's total funding to £1.4m.
The capital arrives ahead of the commercial rollout of Modius, a wearable headset designed to stimulate the hypothalamus to aid weight loss. The company plans to launch the device simultaneously in the UK and the US via Indiegogo.
From the founder
"The first generation of wearable tech devices had a huge impact on the world, helping millions better understand their physical output. Modius is part of an exciting second generation of wearable tech and is a product that actually and actively improves health rather than simply measuring. We believe there are tens of millions of people who will find they can become leaner through use of the Modius device. We also know that neuroscience and technology can be combined to affect all sorts of other health issues which in effect gives our company a very robust product pipeline."
Jason McKeown
CEO at Neurovalens
Investor perspective
"Neurovalens is on the cusp of achieving a genuine breakthrough and we are very pleased to be backing them as they bring their first product to market. Millions of people want to be leaner and fitter, and by combining the founders knowledge in the disciplines of neuroscience and technology they have developed a radically innovative solution for an age-old issue. One that we hope will become a new normal in the individual pursuit of good health."
Tim Mills
Investment Director, Angel CoFund
Use of funds
- 01Grow the team
- 02Build out infrastructure
- 03Continue product development
Investors
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About the company
Neurovalens
Neurovalens creates wearable devices that stimulate the brain to address metabolic and health issues.