Neurowyzr, a healthtech company in India specialising in brain health, has raised US$2.1 million in an “oversubscribed” seed financing round.
Jungle Ventures and Peak XV’s (formerly Sequoia India and Southeast Asia) Surge led the round. Angels, such as Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and CEO of Verticurl; and Rob F Jablonski, Commercial Investment Director of Aquivia; also joined.
This round brings the total amount raised by Neurowyzr to US$3.3 million.
The healthtech startup will use the capital to accelerate product development and expansion across Southeast Asia and India.
The company, which has its India headquarters in Chennai, plans to grow its sales, marketing and software development teams. It is also actively building a network of medical and software distribution partners across India.
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Founded in 2019 by Nav Vij and Pang Sze Yunn, Neurowyzr develops solutions to address existing gaps in neurology and brain health. Its first product is an online gamified digital neuroscience assessment called the Digital Brain Function Screen (DBFS), which it claims significantly reduces the time and dollar burden of traditional cognitive testing.
One of India’s largest private hospital chains recently completed a pilot of the DBFS across five locations. DBFS has been deployed in Singapore’s health screening centres, GP clinics, community care and specialist centres.
Healthcare providers use DBFS in executive health screening, health screening for active agers, Long Covid assessment packages, and also as a standalone service.
Dementia and mental health conditions are rising at an alarming rate. In 2019, 3.84 million people were diagnosed with dementia. By 2050, this will increase almost 3x.
Stroke is the fourth leading cause of death and the fifth leading cause of disability-adjusted life years in India, where one Indian suffers a brain stroke every 20 seconds. With more than 80 per cent of Indian workers reporting more than one mental health symptom, mental health issues are costing Indian firms US$14 billion annually in absenteeism, presenteeism and staff turnover.
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