As consumer health and wellness get more personalised, there has been a rise in startups that are cashing in on digital wellness. Companies are constantly looking to improve individual health outcomes based on digital biomarkers from wearables, continuous glucose monitors, or diagnostic tests.
In the recent past, French health wearables startup Withings acquired Germany’s personalised workout and nutrition app 8fit to expand in Europe, German startup HelloBetter unlocked €10 million for digital therapeutics and Leuven-based Capricorn Digital Growth Fund closed a €84.5 million fund to back digital health startups.
Joining the league now with its sound wellness app is Berlin-based Endel. The German startup has raised a $15 million funding to help people sleep better. Its science-backed, functional soundscapes help people relax, focus, and sleep well. The patented technology takes inputs from the user's movement, time of day, weather, heart rate, location, and other factors. It then uses AI to generate personalised soundscapes that adapt to changes in real-time.
In a world which is increasingly becoming sleep-deprived and super anxious, it is but obvious that investors are paying attention to this sleep wellness platform. The Series B round was led by Waverley Capital (investors in Headspace, Wondery, FuboTV, Roku) and True Ventures (investors in Fitbit, Peloton, Blue Bottle Coffee, and Ring). The startup had earlier raised $5 million in Series A funding in September 2020.
The company has also rolled out a new Wind Down soundscape built in collaboration with The GRAMMY-winning singer, songwriter, and producer James Blake.
A study published in 2021 and peer-reviewed in January 2022 confirms personalised soundscapes have a better impact on people than popular pre-recorded music playlists. With personalised soundscapes, Endel claims to increase focus by 7 times, decrease stress by 3.6 times if used regularly, and maintain an extended, more consistent focus 95% of the time.
“Anxiety and depression rates are at an all-time high, and we believe in the power of sound to deal with those problems,” said Oleg Stavitsky, CEO and co-founder at Endel. “People need new technology to help their bodies and brains adapt to the rapidly changing environment, and that’s what Endel does. From the very beginning, we worked to make wellness accessible by combining science, cutting-edge technology, and art, and this new investment is the next step towards our goal.”
Edgar Bronfman Jr., chairman, and general partner, Waverley Capital added: “With its unique patented technology, published and peer-reviewed scientific validation, and accessible products, Endel is uniquely positioned to own a large portion of this space.”
The ecosystem has over 1 million active users monthly, and they listen to a million and a half hours a month.