Neauphony, a technology startup focused on wearable devices, has raised Rs 1 crore in a funding round led by DERBI Foundation, a Bengaluru -based healthtech incubation centre hosted by the Dayananda Sagar Institutions (DST), CIIE - IIM Ahmedabad, and Ah Ventures, the company said in a statement on Friday.
The company said it has secured additional investment of Rs. 1.3 crore as part of its Seed funding round.
DERBI Foundation gave Neauphony a grant of Rs 25 lakh under the startup India seed fund, which was launched this July, the statement said.
Founded by Ria Rustagi and Bhavya Madan, the startup is operated by Pankhtech India Pvt Ltd.
Neuphony said the products are designed in Germany, and the company will have its headquarters in India, the statement said.
“In these challenging pandemic times, people are under extreme stress, owing to multiple factors. Neuphony is an innovative device that aids the brain to relax by meditating, enhances memory power, and attention span too. Having built and tested the device for international markets, Neuphony is raring to go and we believe they can definitely make a positive impact,” said Dr Lakshmi Jagannathan, CEO of DERBI Foundation.
“Our aim was to put together a product that would help people be more aware of their mental health. The kind of faith our investors have shown in us will only help us in sticking to our commitment of making Neuphony better and more accessible,” said Bhavya Madan.
