BrainPatch.AI seeks $2m to accelerate neurotech proposition

Manufactured in the UK, BrainPatch.AI e-Meditation Neuroheadset is a smart headset designed to help you reset, recharge, and rebalance using the power of neurostimulation.

To date, BrainPatch.AI has raised more than $1m from a PreSeed Plus Round in 2024 (at $10.5m valuation) and grants from the UK and EU. Already backed by Big Sky Capital, Basck and NeuroMotion Ventures and Matthew Cleevely, the company is now raising its seed round to scale-up production and sales, reduce manufacturing cost per unit by over 40 per cent, and to onboard new licensees in China, India and the US. It plans to get to Series A next year and IPO by 2031.

The company’s headset product made its debut in Selfridges on Oxford Street in London at the start of August and is also being sold in the US through an online platform Caputron. The unusual experience and the benefits behind it have proven to be a hit among busy professionals, top managers, academics, students, social workers and also businesses, who care about their employee mental wellbeing.

Early adopters of the headset include Maria Shevchenko from London Stock Exchange Group, and record producer Simon Posford.

Maria Shevchenko, COO – Workflows, London Stock Exchange Group has been using the e-Medidation Neuroheadset for a number of months. She said: “I use the BrainPatch headphones to relax, restore inner balance and calmness. This helps me to be more resilient, to have better clarity of thought, to absorb information quickly and be able to take better decisions as my memory is sharper and energy levels higher.”

Record producer Simon Posford is also a fan of BrainPatch.AI. Founder of the music label Twisted Records, Posford (stage name – Hallucinogen) is considered to be one of the pioneers of the psybient genre of music, which combines world music with psychedelic trance and ambient. Posford is also known for his work as Shpongle with Raja Ram and in the electronic duo Younger Brother alongside Benji Vaughan.

He says: “Like everyone who tries it, I was instantly blown away... I sometimes do a guided meditation or even the sleep patch... I don't do it super regularly, but it always relaxes me and I must try it more when I am stressed. I use it mostly for fun, showing guests things like the ‘digital alcohol’ feature.”

BrainPatch.AI is targeting a Global Workplace Stress Management Market which was estimated to be worth an estimated $10 billion in 2024 and is expected to reach $20bn by 2033 growing at a CAGR of 9.2 per cent (Data Bridge Market Research). The World Health Organization recently estimated that 12 billion working days are lost every year to depression and anxiety at a cost of $1 trillion per year in lost productivity.

Mental Health Nurse and artist, Charlie Kininmonth championed the benefits of the BrainPatch AI headset, saying: “I’ve noticed an immediate calming effect when using BrainPatch AI and I think in combination with guided mindfulness it could be a potent tool for those needing some assistance with relaxation and managing stress/burnout”

Founded seven years ago by Nickolai Vysokov (PhD in neuroscience) and Dauren Toleukhanov (MA), BrainPatch.AI has evolved into a team of highly skilled experts in the fields of neuroscience, electrical engineering and Artificial Intelligence.

The company has been supported with an Innovate UK grant, and also by the EU through its Horizon 2020 grant funding programme. BrainPatch.AI was also named by Startups Magazine as one of the Top Ten Startups of the Year in 2023.

Its Advisory Board includes Professor Paul B Fitzgerald (Director of the School of Medicine and Psychology at The Australian National University), Prof. Steve M. Potter (The Georgia Institute of Technology), Prof. Bazbek Davletov (Honorary Professor at The University of Sheffield and President of Neuresta Company in San Diego), Dr. Frank Zanow (CEO at ANT-neuro), Paul Gillies (founder and CEO of Headphone Revolution), and Intellectual Property expert Christian Bunke (CEO and Founder, Basck).

The most recent addition to the Advisory Board is Jamie Urquhart – co-founder of Cambridge chip architect Arm, who has joined to help steer the company as it scales up.

On the appointment, Urquhart explained: “My interest in BrainPatch is two-fold. The first is that we live in a world where stress levels seem to be rising in all aspects of lives. BrainPatch provides a focus for people to take ownership of their own wellness.

“However, ideas aren’t enough for success – in all cases the founding team is important. The founders Dauren and Nickolai make a great team, mixing passion, scientific credibility and tenacity – vital ingredients. They also want to do their bit in helping people.”

The BrainPatch.AI e-Meditation headset allows users to achieve a meditation-like state of mind, calmness and stress-relief within seconds at a push of a button, anywhere in the world.

Co-founder, Dauren Toleukhanov says: “Effective stimulation of the vagus nerve has been shown to activate the parasympathetic (relaxation) response and reduce symptoms of stress and anxiety. Our e-meditation protocol uses a combination of vestibular and vagus stimulation to induce sensations that can be instantly felt as a floating feeling, as a mental relaxation and some compare it to being pulled into a state of deep meditation.”

“In a single-blind placebo controlled study we conducted with stimulation and EEG recording we discovered that the stimulation has a cumulative effect in that it attenuates burnout and induces changes in brain waves similar to those observed in meditators.”

“A large scale double-blinded placebo-controlled scientific study conducted on office workers in a large telecommunications company and also in university students revealed consistent results with respect to attenuation of burnout, emotional well-being and instant reduction of markers of stress in response to stimulation that is significantly greater than the placebo effect alone.”

“Everything we are and everything we do is the result of complex electrochemical signalling patterns in our brains and bodies. All the neurons and supporting cells are working in concert to make us feel happy and to make us cope with the daily life challenges.”

“We applied the concept very successfully to stimulation of vagus and vestibular nerves for relaxation, but the potential of our platform stretches to other applications being developed in collaboration with other companies and academic institutions.”

In addition to Selfridges in London, the BrainPatch e-Meditation Neuroheadset can be found at the Floatwell wellness hub on Station Road in Cambridge.

James Cope-Brown, founder of Floatwell says: “At Floatwell Cambridge, we’re always looking for science-based innovations that enhance mental focus, recovery and wellbeing. That’s why we’re proud to support BrainPatch and make their groundbreaking neurostimulation devices available for our community to experience.

“The first 10 people who call and mention Business Weekly can book an appointment to try the technology with us for free, after that it will be available to book for £15 per session.”

Anyone interested in trying out the technology should contact hello@floatwell.co.uk or call 01223 297872 to book a demo.

• For more information about the BrainPatch e-Meditation device visit https://brainpatch.ai/e-meditation-device.