Sooma gets €5M boost to expand its tDCS at-home depression treatment

Healthtech company Sooma Medical today announced new funding of €5 million, bringing its funding to €7.5 million. Sooma offers Transcranial Direct Current Stimulation (tDCS) through its portable neuromodulation device.

tDCS uses a mild electrical current to stimulate the brain and alleviate depression symptoms without the need for pharmaceuticals. It targets the brain and relieves symptoms without the side effects commonly associated with antidepressant medications.

Sooma’s prescription-only therapies are one of the few that can be safely administered at home and can be used as a standalone treatment or in combination with other treatments. tDCS is also used by UK healthtech company Samphire Neuroscience to manage menstrual chronic pain and mood symptoms by targeting the prefrontal and motor cortex at home. 

According to Tuomas Neuvonen, co-founder and CEO of Sooma:

"We are dedicated to reaching especially those underserved by medication, or those with limited access to psychotherapy, ensuring everyone suffering from depression has access to the best possible care."

Sooma’s portable neuromodulation system is paired with a digital platform, allowing clinicians to monitor treatment adherence remotely and tailor treatment to individual needs.

Sooma's devices have become the most prescribed tDCS therapies globally, with over 20,000 patients treated worldwide. 

The treatment, proven effective in placebo-controlled trials, has helped the majority of patients feel symptom relief within a few weeks, assisting them in overcoming severe work impairment and returning to their regular routines.

With the new funding, Sooma aims to accelerate product development and continue rapid expansion into new and existing markets, including the US. 

The funding round was led by Voima Ventures, and included Verge HealthTech Fund, as well as existing investor Stephen Industries.

Inka Mero, Founding Partner of Voima Ventures, shared:

"Sooma is changing how we tackle depression worldwide. Their at-home brain stimulation therapy offers a powerful way to help people without the need for drugs or the risk of side effects or addiction. 

I've seen firsthand how amazing this technology is across various patient groups, and it's wonderful to be part of their journey to bring this to more people globally. The battle against depression is only beginning, and it's time that we start making a change." 

In September 2023, Sooma became the first tDCS device manufacturer to receive European MDR certification (EU Medical Device Regulation).

Sooma also recently received an FDA Breakthrough Device Designation. This designation is reserved for novel therapies that show significant potential to significantly improve existing options for severe or life-threatening conditions.