Digital neurotherapeutic startup MindMaze raises $105M

Digital neurotherapy company MindMaze has scored $105 million in financing just months after it announced it had raised $125 million.  

The latest round was led by Concord Health Partners with participation from AlbaCore Capital Group and Hambro Perks. According to Crunchbase, the company’s total raise is now more than $340 million. 

WHAT IT DOES

MindMaze provides game-like therapies and assessment tools for rehabilitation and treatment of neurodegenerative diseases and brain injuries. 

Its MindMotion Go platform, which was cleared by the FDA in 2018, provides at-home physical therapy to improve motor skills. The company’s MindMotion Pro system, designed for in-hospital use, received the FDA greenlight in 2017.

It also has products like MindPod, which focuses on motor skills and cognitive function, and TOAP Run for people with Parkinson’s disease.

WHAT IT’S FOR

The company plans to use the new investment to speed its global commercialization plans, accelerate research and development, and fund growth and acquisitions.

As a result of the funds from Concord Health Partners, MindMaze will partner with the American Hospital Association to use the platform with its members. The AHA has worked with Concord, a private equity firm, on its own venture fund

“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.”

MARKET SNAPSHOT

In May, MindMaze announced a slew of partnerships to expand in Latin America, the Middle East, Spain and Switzerland.

It’s also embarked on acquisitions before, a growing trend in the digital health space. In 2018, it scooped up fellow neuro-rehabilitation tech company Neuro Motor Innovations.

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