MindMaze secures $105 million to expand commercial growth
MindMaze announced Thursday that it has secured $105 million in financing to accelerate its global commercial growth initiative.
Based in Lausanne, Switzerland, the company focuses on brain technology by combining digital therapeutics, motion analytics, AI and cloud technologies,
The financing was led by Summit, New Jersey-based Concord Health Partners in conjunction with AlbaCore Capital Group and London-based Hambro Perks.
The announcement comes in the wake of $125 million raised by MindMaze last October.
The funding will be used to “supercharge” the company’s R&D and consolidate the clinical development pipeline of its digital therapeutic solutions for a wide range of neurological diseases.
The company also unveiled plans to enter into a partnership with the American Hospital Association (AHA).
“This funding allows us to ramp up commercial activity and expand our footprint in the U.S, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally,” Tej Tadi, founder and CEO of MindMaze, said in a statement. “MindMaze has been at the frontier of brain tech since its inception, and we’ve been an essential part of the incredible 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, such as Concord Health Partners and the larger investment community, see the broad-reaching potential of our digital neurotherapeutics platform as we continue to accelerate humanity’s ability to recover, learn, and adapt.”
”The AHA is excited to join initiatives to promote and advance the delivery of digital therapeutic solutions for neurological diseases in accessible settings, and MindMaze will enable our hospitals, healthcare systems and other providers of care to offer new, innovative solutions to help treat their patients,” Doug Shaw, senior vice president of business development at the American Hospital Association, said in a statement.