A Northern Irish tech start-up that helps people lose weight has raised £1.1m
Belfast-based Neurovalens, which is founded by two neuroscientists, will launch a wearable that stimulates the brain preventing hunger this August
A Northern Irish tech start-up that helps people lose weight has raised £1.1m, taking its total amount of funding to £1.4m.
Neurovalens, a Belfast-based business that utilises neuroscience and technology in a bid to disrupt the weight loss industry, has been backed by Angel CoFund (backed by the British Business Bank) and Beltrae Partners – as well as TechStart NI.
Founded by British neuroscientists Dr. Jason McKeown and Dr. Paul McGeoch, who remain majority shareholders, the duo will launch their first product in the UK and US in August via Indiegogo.
A piece of wearable tech called Modius, the headset works by stimulating the hypothalamus, an area of the brain associated with hunger and metabolism, in an effort to prevent cravings.
Neurovalens claim that initial users lost up to 16% of their body fat after using the device for just three hours per week for four months.
“The first generation of wearable tech devices had a huge impact on the world, helping millions better understand their physical output. Modius is part of an exciting second generation of wearable tech and is a product that actually and actively improves health rather than simply measuring.
“We believe there are tens of millions of people who will find they can become leaner through use of the Modius device. We also know that neuroscience and technology can be combined to affect all sorts of other health issues which in effect gives our company a very robust product pipeline.”
Tim Mills, investment director at the Angel CoFund, said:
“Neurovalens is on the cusp of achieving a genuine breakthrough and we are very pleased to be backing them as they bring their first product to market.
“Millions of people want to be leaner and fitter, and by combining the founders knowledge in the disciplines of neuroscience and technology they have developed a radically innovative solution for an age-old issue. One that we hope will become a new normal in the individual pursuit of good health.”
Click here to read our guide on starting a business in Belfast.