Endel completes a $5 million funding round led by True Ventures.
Endel, a Berlin, Germany-based startup building a consumer mobile app esigned to generate personalized and adaptive sound environments, announced securing funds in the company totalling $5 million.
The equity round was raised from investors led by US venture company True Ventures, with participation from SleepScore Ventures, Techstars Ventures, Impulse Ventures, Plus 8 Equity Partners, Waverley Capital, Amazon Alexa Fund, and Target Global.
Endel, founded in 2017 by CEO Oleg Stavitsky, Dmitry Evgrafov and Kirill Bulatsev, developed a cross-platform audio ecosystem used for creating personalized, sound-based, adaptive environments that help people focus and relax. The company's application uses a core algorithm based on circadian rhythms, pentatonic scale, and sound masking while adapting to different inputs like time of day, weather, heart rate, and location.
Endel's technology is already presented as an ecosystem of products (iOS, macOS, Android apps, Alexa Skill, a standalone Apple Watch app + tvOS app coming soon) and also designed to be integrated into various hardware and platforms in mobility, hospitality, and workspaces. The company makes money by charging an annual subscription fee.
Prior to this round, Endel was part of one of Techstars accelerators and raised $2.1 from investors.