SleepCogni (The Insomnia-Therapy Device), – Raised Over £475K In Their First Week On Crowdcube
The innovative, UK-designed sleep-therapy solution, SleepCogni, – raised over £475K in the first week of their crowd-funding campaign on Crowdcube.
SleepCogni is a hand-held, data-supported device for insomnia sufferers. The solution helps insomnia sufferers to break those negative cognitive cycles that prevents them from sleeping, – enabling users to self-manage their insomnia (a condition which affects one in three people across the planet).
The campaign attracted funds from 157 different investors in their latest round, – which combines venture capital investment, and crowdfunding. Their financial backers include(s): Chasnay Capital Investments, – a brand new private investment fund established by three former General Electric (GE) Healthcare senior executives.
The business was Co-Founded in 2015 by a Sheffield-based entrepreneur named Richard Mills (who is also the inventor and Founder of the Swellaway device), – who has personally suffered from sleeping disorders, himself. Also part of the Founding team, – is the Dutch chronobiologist and sleep expert, Dr Maan van de Werken.
Their crowdfunding investment round follows last month’s successful clinical trials at Sheffield Hallam University, where SleepCogni produced ‘extraordinary’ results, – significantly reducing clinical insomnia after just seven days. Earlier on in June this year (2021), the device was registered for medical use by the US Food & Drug Administration (FDA).
Funds from the latest investment round will go towards a software platform upgrade, recruitment of a new SleepCogni business development team, and beta-testing of the device at four sites: two in the US and two in the UK. SleepCogni will then roll out the device to 130 clinics, including one of the largest sleep care management groups in the US.
SleepCogni’s Co-Founder and CEO, Richard Mills, said: “We’re delighted with the success of this crowdfunding campaign, where we’ve quickly surpassed our initial investment target. Along with all of our 157 new investors, I’m delighted to welcome Chasnay Capital Investments on board, – a fund which is led by three former GE executives who are proven titans in the healthcare industry.“
“Their financial commitment towards SleepCogni underlines the size of the opportunity, and our ambition to capture a significant share of the $80bn global sleep aid market. Our successful crowdfunding campaign builds on the momentum of last month’s FDA registration, and the completion of clinical trials, – where SleepCogni achieved extraordinary results reducing clinical insomnia in just seven days,” he added.
Reinaldo Garcia from Chasnay Capital Investments said: “We’re excited by our investment into SleepCogni for many reasons: its patented technology and clinically validated solution addresses an unmet need in the global sleep aid market, and the company is backed by an excellent team. As experienced global senior leaders with a proven track record, we can add value in this next exciting stage of the business, and help SleepCogni scale on a global level.”
Earlier this month, SleepCogni was listed in this year’s MedTech50, produced by UK business technology publication called BusinessCloud, coming in at 8th place on the 2021 rankings.
Find out more here: https://www.sleepcogni.com