Flow Neuroscience announced a $1.5 million investment round led by Khosla Ventures.
Flow Neuroscience, a Malmö, Sweden-based medical device company, announced in a press release that it secured €1.3 million ($1.5M) in an investment round.
The financing round was led by existing investor Khosla Ventures, and money will be used to support its European rollout, introduce Flow to healthcare clinics, and fund clinical studies.
Flow Neuroscience, founded in 2016 by CEO Daniel Månsson and Erik Rehn, developed a new kind of depression treatment which combines an easy-to-use brain stimulation headset with an engaging, personalized mobile app to target both the physical and behavioural elements of major depressive disorder (MDD).
Flow Neuroscience’s wearable stimulates a patient’s left frontal lobe, the area of the brain that has often lowered activity in people suffering from depression. The company made its solution available in June 2019 in the UK and Sweden, and its wearables are classified as a Class IIa medical device.