TORONTO—- A non-brokered private placement was used to close an oversubscribed USD 9.5M Series C investment round for Interaxon Inc. (Muse®), the industry leader in consumer neurotechnology. BDC Capital, the family office of Misfit creator Sunny Vu, Alabaster, and Export Development Canada, served as the round’s lead investor. Other new institutional investors included Phyto Partners, Iter Investments, Intretech(HK) Co., and The Clavis Foundation.
Ariel Garten, a co-founder, took part in the round as well. The Company has opened an allotment for extra oversubscription due to the robust market interest, and a second (final) close is anticipated by the end of Q3 for strategic investment.
With the help of this money, Interaxon hopes to improve its industry-leading brain health platform by rolling out an integrated wellness membership model, doing additional research, and validating a feature that tracks the long-term evolution of the brain. Additionally, Interaxon will promote the expansion of its services for independent programmers, researchers, doctors, and other joint ventures.
Ariel Garten, a co-founder of Interaxon, stated:
“At Muse, we’re passionate about assisting the neuroscience research community. We are excited about the value this money will unlock, including developing and validating a user-friendly, industry-first EEG measurement indicating changes in brain age that can be useful in a range of academic and therapeutic settings.”
Muse’s first-ever brain performance evaluation will allow users to compare themselves to various groups across the general population and against their historical values over time, expanding the offerings of their brain health platform.
Lally Rementilla, Managing Partner of BDC Capital:
“We’re delighted to assist Muse in its pursuit of continually giving people a greater understanding of their brain health and general welfare, as well as treatments that support them when they need it; It’s an honor to work with Muse as they broaden their selection of products and diverse IP portfolio.”
More about the platform:
In their enormous EEG database, Muse’s R&D team has found some intriguing new patterns that give significant signs of brain health. Through the creation of ground-breaking metrics that offer consumers insightful information about brain health and lifestyle elements (such as meditation, sleep, alcohol, stress, exercise, food, etc.) that affect it, the company hopes to capitalize on these trends.
The new membership program will feature these tailored insights and additional new biosensor trend analyses that will be released later this year.
With the new membership model, which will go live in Q1 2023, customers will have a lower barrier to entry to try out cutting-edge wearable EEG technology. Members will have access to participate in community research projects, continuing expert support, content upgrades, new device models when they become available, and headband replacements.
This service is vital to Muse’s continuous dedication to being a long-term wellness partner since it gives consumers fresh, cutting-edge perspectives on their cognitive health and general wellbeing.
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