Where We Are Investing Now: Next-Gen Neurotech
In a world awash in stress, neurotech that lifts mood, diminishes anxiety, deepens positive behavior and otherwise benefits individuals is supremely important. Even so, in terms of investment, this category faces tough sledding: it takes time for consumers to adopt new tech. That gets even harder during a period of economic tumult and high inflation when people watch their pennies. Plus, the regulatory environment here is toughening up. Where hardware is involved, and that is the case with many neurotech products, the challenges just grow more daunting.
Despite all this, we continue to see neurotech as an immensely exciting and rapidly evolving field. Other investors appear to agree with us. According to Pitchbook, the deal count for investments in this industry has rapidly increased in the past ten years, with a large spike in 2021 and 2022.
We feel committed here because stress and its evil stepchildren–poor productivity, bad mental health, poor sleep, illness, and inflammation–are rampant. Stressed-out consumers need help, but seek alternatives to drugs and medications and their costs and side effects. What consumers want is real relief and transcendence with them in control of the process. They are looking at wearables, microbiome effects, food as mood, pychedel-alikes, and other next-gen options. Consumers want to see the data behind products and have access to the personal information they share. If those elements line up, they are in. As an example, musician and cultural influencer Grimes recently requested one of our portfolio company Neurosity’s Crown headsets, which lets people go into flow on command, for her 35th birthday.
In addition to Neurosity, we have invested in many remarkable, groundbreaking neurotech companies:
- GrayMatters: Non-invasive monitoring of the amygdala for self-neuromodulation of mental disorders (recently approved by the FDA to market their first product, PRISM, which treats PTSD)
- Sharpersense: Non-invasive vagus nerve stimulation for enhanced sensory perception
- IDUN Technologies: In-ear neuromonitoring (recently released their in-ear EEG earbuds for sleep)
- Neosensory: Sensory substitution wearables that enable deaf and hard of hearing people to “hear” sound through vibrations on their skin
- Attune Neuroscience and Elemind: Non-invasive neurostimulation for sleep conditions
- Paradromics: High data rate brain-computer interface via cortical implant for unmet medical needs
- Embr Labs: Balances the body’s thermal perception, creating a sensation of heating or cooling (recently released their Wave 2, specifically designed for treating hot flashes)
- KeyWise AI: Digital brain health tracker using mobile typing kinematics
- Noctrix Health: Non-invasive peripheral nerve stimulation for Restless Leg Syndrome
- Brainkey: 3D brain dashboard providing quantitative neurological insights
Neuroscience is core to our investment strategy at Joyance Partners. We have a strong conviction that new modalities will change the way people with brain-centric conditions battle these afflictions and create new ways to help people simply get through the day a bit more positively. Even more, neuroscience has the potential to change the way individuals perceive themselves and the world, and how they create their own personal joyful moments.
Here, as in all our focus areas, we seek entrepreneurs with big visions to improve human well-being and deliver delightful experiences. Of particular importance in neurotech, though, is notable scientific creativity alongside a deep reservoir of patience and calm. Turning potential into product here remains borderline impossible. The entrepreneur will need to sign up for a roller coaster ride and we will need to see an outcome powerful enough that we accept the real potential it might all come to tears.
The mind can heal the body, the body can heal the mind. People can be freed to pursue happiness as they define it, and that is what we are here to support.
Are you leading the charge in life-changing neurotech advancements? Get in touch, we’d love to hear from you.
By Investment Partner Jun Deng
Related Posts:
Where We Are Investing Now: Neuroscience and Delightful Moments
Nurturing our Neuroscience Focus
Inception with Charles RodenKirch, CEO of Sharper Sense
