Thursday, August 18, 2022

Sleep therapy device raises over $315.38 in crowdfunding

A UK-designed sleep therapy solution with global ambitions raised over $314.21 in the first week of a Crowdcube crowdfunding campaign.

SleepCogni, a portable device with data support for people suffering from insomnia, has so far attracted funds from 157 different investors in this latest fundraiser that combines venture capital investments and crowdfunding.

The firm’s latest lenders include Chasnay ​​Capital Investments, a new private investment fund founded by three former senior executives from General Electric (GE) Healthcare.

Co-founded by Sheffield-based entrepreneur Richard Mills, who has personally suffered from sleeping disorders, and Dutch chronobiologist and sleep expert, Dr Maan van de Werken, said the device allows users to self-manage their insomnia, a condition which affects one in three people across the world.

“Our successful crowdfund 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.”

Reinaldo Garcia from Chasnay Capital Investments added: “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.”