MindMaze, whose virtual-reality software allows individuals to regain motion after strokes or traumatic brain injuries, has secured a $105 million financing round.
The financing was led by Concord Health Partners (“Concord”), a US-based healthcare private equity firm focused on investing in and supporting healthcare companies with innovative technologies and solutions that address quality, cost and access to care, along with other investors.
AlbaCore Capital Group, one of Europe’s leading specialist investors focusing on public and private markets, are building on their existing investment as a reflection of their continued commitment to the company.
This round also included participation from London-based Hambro Perks, an investor with deep expertise in the sector and a global portfolio of disruptive, highly scalable companies, and several family office investment groups.
MindMaze, backed by Hollywood actor Leonardo DiCaprio, develops video games that incorporate virtual and augmented reality to enable people to rectify motor function after stroke or brain trauma. The games, played at home or in a hospital or clinic, implicate tasks that encourage parts of the brain.
The latest funding will help the Swiss firm accelerate its global commercial growth plans, rev up ongoing R&D and consolidate the clinical development pipeline of its industry-defining digital therapeutic solutions for a broad spectrum of neurological diseases.
“This funding allows us to ramp up commercial activity and expand our footprint in the U.S, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally,” said Tej Tadi, Founder and CEO of MindMaze.
“MindMaze has been at the frontier of brain tech since its inception, and we’ve been an essential part of the incredible advancements over the last decade across brain sensing, motion capture, mixed reality platforms, new architectures for brain-inspired computing and machine learning/AI. We are pleased that important strategic growth investors, such as Concord Health Partners and the larger investment community, see the broad-reaching potential of our digital neurotherapeutics platform as we continue to accelerate humanity’s ability to recover, learn, and adapt.”
James Olsen, Founder & Managing Partner at Concord, stated, “MindMaze has developed the leading technology and approach to digital therapeutics for neuro-rehabilitation and restoration, providing clear benefits to patients, providers and payors. We believe this notable advancement in treatment and therapy will meaningfully improve brain health and recovery for a wide range of conditions. We are thrilled to partner with Tej and the MindMaze team to build on its impressive track record and to support clinical and commercial expansion in the US market.”
Furthermore, as a result of Concord’s investment, MindMaze will initiate a partnership with The American Hospital Association (“AHA”) which is committed to the advancement of innovative healthcare solutions and serves as the national advocate for its provider member organisations, including nearly 90% of US hospitals, health systems and other health care organisations as well as 300,000 executives from health care organisations in the field.
”The AHA is excited to join initiatives to promote and advance the delivery of digital therapeutic solutions for neurological diseases in accessible settings, and MindMaze will enable our hospitals, health care systems and other providers of care to offer new, innovative solutions to help treat their patients,” noted Doug Shaw, Senior Vice President, Business Development at the American Hospital Association.
Already a unicorn, MindMaze is steering in a new era of medicine through novel tech-enabled protocolised software and hardware peripherals to address serious cognitive and movement deficits. Operating in more than 20 countries, the company delivers seamless digital assessments and therapeutics over the full continuum of care for thousands of patients suffering from neurological conditions.
— Press release