ah! Portfolio Startup Neuphony by Pankhtech, Revolutionizing Brain Health Technology and Empowering Minds Worldwide, partly raised its Pre Series A funding round from ah! Ventures Angel Platform with participation from majority of their existing investors. ah! Ventures has done 183 investments in 121 startups till date taking its total investment portfolio to INR 376 CR (~47 MN USD) with 16 exits and 47 follow on rounds. 29 investments have happened through all three platforms and the fund in 2023.
Neuphony, a pioneering brain health technology company, is making significant strides in the field of brain-computer interface (BCI) devices with neurofeedback techniques. Neuphony’s innovative product is transforming the way individuals understand and prioritize their brain health, fostering a proactive approach to mental well-being, and challenging stigmas.
Neuphony’s mission is to empower individuals to take control of their brain health and improve their cognitive well-being. With their brain-wearable EEG device, Neuphony provides valuable insights into brainwave data, allowing individuals to monitor and enhance their cognitive functions in real time. Renowned institutions such as IIT and NIMHANS have embraced Neuphony, while researchers, neuroscientists, psychologists, and psychiatrists from around the world have utilized their product for studies, clinical cases, and new product development.
“We aim to bridge the gap in the field of mental health,” said Ria Rustagi, co-founder and CEO of Neuphony. “By providing a platform that connects psychotherapists, neuroscientists, coaches, counsellors, and all other stakeholders, we enable access to research-backed data and validated information. This empowers individuals to make informed decisions about their mental health journey, leading to improved outcomes and overall well-being.”
Neuphony has set its sights on becoming a global leader in brain health technology within the next three years. To achieve this vision, the company plans to make Neuphony accessible worldwide by partnering with renowned healthcare institutions, researchers, and technology experts. Their goal is to enhance the product further and empower millions of people to prioritize their brain health.
“We believe that if you don’t know it, you can’t change it,” added Ria. “By providing cognitive profiling and promoting awareness about brain health, we strive to eliminate the stigma surrounding mental health and ensure that no one feels isolated or handicapped. We are dedicated to creating an ecosystem that promotes well-being, facilitates communication, and motivates individuals to live their best lives.”
Neuphony has garnered significant recognition, making it a standout in the industry. The company’s achievements include being featured in Forbes India’s esteemed Under 30 list, showcasing its potential on the popular show Shark Tank, and securing a spot among Google for Startups’ top 10 women-led ventures in the Asia Pacific region. Neuphony’s success has also extended to the global stage, with its selection as a semi-finalist at the highly regarded North Star Pitch Competition during the prestigious GITEX Summit in Dubai. An important highlight was Dr. Mahesh Jayachandra, a valued partner at ISSc Bangalore, representing Neuphony and having the opportunity to showcase our innovative solutions to the Honourable Prime Minister Narendra Modi at the Digital India Summit in Gandhinagar. Furthermore, Neuphony’s inclusion among the top 10 startups at the International Yoga Day event in Mysore further illustrates our dedication to promoting holistic wellness.
Neuphony’s remarkable growth is a testament to their success. From March 2022 to March 2023, the company’s revenue skyrocketed by an extraordinary 7X, solidifying their position as industry leaders. They have continuously pushed boundaries, achieving a remarkable 30% month-on-month growth.
With a presence in 16+ countries and 15 brain gyms, Neuphony is building a global community dedicated to prioritizing mental health. However, they are not stopping there. The company’s ambitious vision includes establishing over 1,000 brain gyms in the next three years, aiming to change the lives of 1 billion individuals by fostering a proactive approach to mental well-being and challenging stigmas.
Behind these impressive numbers lies the true driving force: Neuphony’s customers. With an outstanding Net Promoter Score (NPS) of 98%, Neuphony is humbled by the support and confidence their customers have placed in them.
To further scale their sales in international countries, Neuphony recently started a pre-Series A funding round. Previous investors like ah! Ventures and Rajesh Bhojwani, founder and managing director of RBB Ship Chartering Pvt. Ltd., from Singapore, reinvested in the company. As well as the angel investors from the UAE and India, they also invested in the company. With over 60% of the round committed, Neuphony is excited to close the round soon, allowing them to expand their operations and reach more individuals around the world.
Mukul Jain, Deal Lead – Neuphony and VP – ah! Ventures, said that we continue to trust the product and the technology that the company is built. We are confident that this capital will help the scale the business further and achieve heights. We believe that mental health and wellness are significant issues in urban areas and Neuphony is solving a major problem through its cutting edge technology and solution.
Read the original announcement: https://ahv.fyi/neuphonypr23