The neurotechnology start-up Idun Technologies has secured investment in the amount of 2 million Swiss francs as part of an extended seed financing round, which was led and complemented by existing investors. However, new strategic investors in the form of CADFEM from Germany and think future from Switzerland were also involved in this process.
According to a press release, the start-up based in the Greater Zurich Area sees its role as providing best-in-class signal quality and brain insights by way of a comfortable, non-invasive and consumer-friendly earbud. To this end, Idun Technologies is working with Brain Computer Interfaces (BCI). According to information in the press release, the earbud monitors the brain via proprietary sensors in the ear canal. In this way, products and services should be able to react to the emotional and cognitive needs of the user in real time.
The fresh capital is to be put towards building market validation with strategic partners. These include the Japanese pharmaceutical company Takeda. In so doing, Idun Technologies will be focusing on strategic market segments such as sleep health and assisted hearing.
“We have the opportunity to build unique brain data interpretation algorithms on our proprietary in-ear EEG data sets and build strong IP around that”, comments CTO Moritz Thielen in the press release. In addition, CCO and co-founder Séverine Gisin explains that the company’s commercial priority is centered on “validating the added value of continuous biomarker detection for use cases in sleep health and assisted hearing”.