MindMaze team | Image credit: MindMaze
Lausanne, Switzerland-based MindMaze, a company that claims to accelerate humanity’s ability to recover, learn and adapt through advanced neuroscience and digital therapeutics, announced on Thursday that it has raised $105M (approx €92.37M) in a fresh round of funding.
The round was led by Concord Health Partners, a US-based healthcare private equity firm that invests in innovative technologies and solutions that address quality, cost, and access to care. Existing investor AlbaCore Capital Group, London-based Hambro Perks and several family office investment groups also participated in this round.
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As a result of Concord’s investment, MindMaze will initiate a partnership with The American Hospital Association (AHA). The AHA serves as the national advocate for its provider member organisations, which include nearly 90 per cent of US hospitals, health systems and other healthcare organisations as well as 300,000 executives from healthcare organisations in the field.
James Olsen, founder and Managing Partner at Concord, says, “MindMaze’s approach to digital therapeutics for neuro-rehabilitation and restoration, provides clear benefits to patients, providers and payors. We believe this notable advancement in treatment and therapy will meaningfully improve brain health and recovery for a wide range of conditions. We are thrilled to partner with MindMaze to support clinical and commercial expansion in the US market.”
Capital utilisation
The company says that the funds will accelerate its global commercial growth plans, supercharge ongoing R&D, and consolidate the clinical development pipeline of its digital therapeutic solutions for a wide spectrum of neurological diseases.
Tej Tadi, founder and CEO of MindMaze, says, “This funding allows us to ramp up commercial activity and expand our footprint in the US, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally.”
Tadi further adds, “MindMaze has been at the frontier of brain tech since its inception, and we’ve been an essential part of the advancements over the last decade across brain sensing, motion capture, mixed reality platforms, new architectures for brain-inspired computing and machine learning/AI. We are pleased that important strategic growth investors see the broad-reaching potential of our digital neurotherapeutics platform.”
“Building the universal platform for brain health and recovery”
Founded in 2012 by Tej Tadi, MindMaze is a digital neuro-therapeutics (DTx) solutions provider with an aim to accelerate the brain’s ability to recover, learn and adapt.
With over a decade of work at the intersection of neuroscience, bio-sensing, engineering, mixed reality, and artificial intelligence, its healthcare division claims to be addressing some of the most challenging problems in neurology, including stroke, Alzheimer disease, and Parkinson’s disease, by creating a platform for brain health and recovery, and ‘unique’ digital therapeutic interventions.
The company already has over 10 clinical trials underway across 8 indications and expects to have at least three new prescription digital therapeutic solutions for chronic Stroke, Parkinson’s Disease, and ageing/MCI in the next few years.
Operating in more than 20 countries, MindMaze says it is the first Swiss unicorn and has offices in Lausanne, Baltimore, London, Paris, and Mumbai.
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