Flow Neuroscience secures $1.1M from Khosla Ventures for building a business around a wearable-based depression treatment.
Flow Neuroscience, a Malmö, Sweden-based company providing a headset-based treatment for depression, announced a seed investment round of $1.1M.
The money comes from Khosla Ventures, SOSV, and angel investor Daniel Andersson and will be used to complete the regulatory process for its products and gain EU approval as well as growing its team of scientists, engineers, and executives. The startup participated in the HAX hardware accelerator from Shenzhen, China and also received a grant from the EU’s Horizon 2020.
Flow Neuroscience, founded in 2016 by Daniel Månsson (CEO) and Erik Rehn, is developing a brain stimulation headset used in treatments for depression. The solution involves the use of a depression treatment device which combines an easy-to-use brain stimulation headset with a personalized mobile app to target both the physical and behavioral 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 wearable works with a mobile app that nudges users to behaviors that will help lessen the effects of their depression, including exercise and regular sleeping patterns.
The company estimates a market of 21 million people in Europe suffering from major depressive disorder (MDD).