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Living Brain attracts venture capitalists and closes a 7-digit financing round

The EIT Health Catapult and Headstart Awards participant, Living Brain, closes a 7-digit financing round.

Current cognitive rehabilitation is conducted with pencil/paper, desktop or smartphone applications. All of these approaches are lacking in relation to everyday life and don’t fulfil the needs of complex cognitive rehabilitation, as science has proven. The use of training software in VR can close this gap, the interaction with real-life scenarios like a kitchen or a garden while being in a hospital is offering multiple benefits.

Living Brain digitizes cognitive rehabilitation with virtual reality, psychological learning paradigms and gamification. The training software can be used by more than 4 million patients with neurological diseases in Germany to retrain cognitive abilities like action planning or attention and is connected with monitoring software for physicians and therapists.

People affected by cognitive rehabilitation have to learn again to do everyday things on their own. Scenarios close to everyday life, such as a kitchen or a garden, are used by the team of Living Brain: In virtual reality, skills are trained in a playful way, such as planting vegetables or preparing a dish in a kitchen. In combination with psychological learning strategies, neuronal pathways can reconnect at an early stage. The team led by Barbara Stegmann, Till Ikemann and Julian Specht wants to enable those affected to carry out their training independently of time and place. Where pen and paper are still the common training medium today, Living Brain is breaking new ground – and thus enabling training that is intended to make it easier to return to everyday life.

Now the trio announced the closing of a seven-figure financing round. The sum was received via the private investor network Companisto, and within just a few weeks, more than over 600 private investors participated in Living Brain. In addition, the two investors Ina Schlie and Dorit Posdorf from the encourageventures network also participated.

 

“The new capital now enables us to invest further in the product in order to integrate it into care nationwide and sustainably, to make it available to practitioners and patients, and thus, to support even more people on their way back into their everyday lives. The further establishment of teora mind on the market and the development of effective and economical solutions for use in the healthcare market are now our top priorities. We are grateful for the trust of all investors and supporters who have been with us for a long time and we are proud to have new partners at our side who will support us in our further growth.” – says Barbara Stegmann, the CEO at Living Brain about the investment.

With the newly obtained capital, Living Brain primarily intends to further develop the product and continue its market penetration. “In the last few months, we have reached several milestones through certifications, clinical studies and first sales and have shown that we can make a difference for many patients with our product. We are also particularly grateful to our team, without whom we would not be able to do all this!”- says CSO Julian Specht.

Congratulations to the whole team!