A group of leading scientists, doctors, and entrepreneurs have unveiled a first-of-its-kind wearable neurotechnology platform that utilizes proprietary algorithms and AI to improve health through noninvasive, proactive brainwave stimulation without the side effects of pharmaceuticals. Elemind – the new AI-enhanced neurotech health company – emerged from stealth closed a $12 million seed round to further develop its first product ahead of its reveal in the coming months.
The scientists who launched the company are associated with leading research institutions such as the Massachusetts Institute of Technology (MIT), Imperial College London, Harvard Medical School, and the University of California at Berkeley.
The company’s wearable neurotechnology reads individual brainwaves and guides them in real time by responding with tailored stimulation. And precision guidance of brainwaves changes behavior in a smarter, more targeted, and natural way than pharmaceuticals.
Elemind calls this approach electric medicine – a drug-free, personalized, and adaptive approach that fine-tunes the stimulation based on the body’s response until the desired state is achieved. And the company partnered with multiple leading research institutions to validate the technology and build applications for it.
To date, Elemind’s technology is supported by five clinical trials and several publications in peer-reviewed scientific journals. Clinical trials show Elemind’s technology is effective at inducing sleep up to 74% faster, suppressing essential tremors with a significant decrease after only 30 seconds of stimulation, and boosting memory. The clinical trials also demonstrate Elemind is effective at increasing pain thresholds and enhancing sedation. This study is currently in peer review. And Elemind has a potential impact on many neurological conditions.
The company’s seed round boasts a list of investors that includes some of the industry’s most successful entrepreneurs, business leaders, and funds:
Village Global (an early-stage venture fund backed by Jeff Bezos, Reid Hoffman, Bill Gates, and Anne Wojcicki, among others) was the company’s first investor. And LDV Partners, a global deep-tech and life sciences fund, also invested. LDV Partner Dr. Qing Zhang, a seasoned investor, entrepreneur, and a Harvard-trained medical doctor, has taken a seat on Elemind’s board.
Other funds participating in the round included MIT’s investment fund, E14 Fund, Wharton’s Alumni Angel fund, Embark Ventures, as well as the founders of Skype, Nest, Opentable, Broadvision, Boston Scientific, Vital Proteins, and Fab Fit Fun.
Elemind’s team has been conducting research and developing its technology in stealth since 2019. And Elemind currently holds three critical patents covering its core signal processing algorithms and dynamic neurostimulation techniques.
This team includes several seasoned neuroscientists and researchers:
- Dr. Ed Boyden, co-founder, has served as a neurotechnology professor at MIT for 17 years and pioneered the field of Optogenetics. He’s a Howard Hughes Medical Investigator and Stanford Neuroscience PhD. Boyden co-founded TI Solutions AG, SynLife, Cognito Therapeutics and Expansion Technologies, and won the Breakthrough Prize.
- Dr. David Wang, PhD in Artificial Intelligence from MIT, is co-founder and chief technology officer (CTO). Previously he was co-founder and CTO of the NuVu Innovation School.
- Dr. Ryan Neely, PhD Neuroscience from UC Berkeley where he studied brain-machine interfaces, is vice president, Science and Research. He held prior positions at Known Medicine and iota Biosciences, and studied and taught neuroscience at Harvard University.
- Dr. Nir Grossman, co-founder, is an 11-year neuroscience professor at Imperial College London and an MIT Research Fellow.
- Dr. Heather Read, co-founder, is a 21-year behavioral neuroscience and biomedical engineering professor at the University of Connecticut.
Elemind’s first product is a general wellness device and will not be subject to FDA regulation.
KEY QUOTES:
“Chemical drugs affect the entire body, often leading to unwanted side effects. Elemind offers a non-chemical, direct, and on-demand solution that learns and dynamically adjusts to each person. We’re the first and only company able to precisely guide and redirect brainwaves in real-time.”
- Meredith Perry, CEO and co-founder of Elemind
“We were impressed by Meredith and the team’s bold vision, the significant market potential, and were fortunate to be the first investor in Elemind. Elemind’s neurotech wearable represents the latest advancements in the industry. The team has made significant progress towards its vision and has made our decision to invest look easy. I’m excited about what’s to come in 2024.”
- Erik Torenberg, Venture Partner at Village Global
“Elemind is revolutionizing neurotechnology. Their innovative design combines cutting-edge technology with thoughtful craftsmanship to help individuals improve their health.”
- Dr. Qing Zhang MD, partner at LDV Partners
“A new era of transformative neurotechnology is arriving and Elemind is at its forefront. Elemind broke new ground with an algorithm that allows for instantaneous neuromodulation. Each brain is unique and constantly changing, so we leverage AI and ML to optimize stimulation parameters to achieve the desired state the fastest. You can think about it like noise cancellation for the mind – our technology uses phase-locking auditory stimuli to align precisely with the user’s brainwaves and steer them to a different frequency associated with a different state.”
- Dr. David Wang, CTO and co-founder of Elemind
