Mendi, a Swedish health tech startup creating consumer devices for brain health, has raised €3 million through Kickstarter and Indiegogo, where customers ordered over 10,000 Mendi neurofeedback devices within six months.
The very first batch of devices, which are manufactured in Sweden and run $299, will be delivered to consumers in December.
The company, which was founded in Stockholm in 2018, is on a mission to improve the brain health of 10 million people by 2025. “The idea behind Mendi grew from a desire to use neurofeedback to improve our own mental well-being. With my co-founder, Sammy Saldjoghi, we ran a leading neurofeedback clinic in Stockholm and saw first hand the incredible benefits of this method,” says Rickard Eklöf.
That said, the clinical value of neurofeedback is debated, but there’s plenty of anecdotal praise.
“Millions of people are convinced neurofeedback has helped them improve their mental well-being and brain health,” says the startup’s CEO, Moha Bensofia, who first joined the startup as an early investor — and an early adopter. Bensofia, who has previously backed War On Cancer, Natural Cycles, Fishbrain and others, commented: “I was a Mendi user long before being its CEO. I started using Mendi last year, and within a few weeks, people around me started telling me that I seemed more positive, energetic and retentive.”
Mendi explains that the device uses the flow of oxygen and blood in the prefrontal cortex to measure brain activity, while the app visualises activity in near real-time. Users can train their brain function simply by controlling the game with their mind, and could see results from three short training sessions per week.
The Swedish company is also supported by the startup incubator Sting, Vinnova, EU’s Horizon 2020 research and innovation programme, Neurofeedback Scandinavia, Stockholm University and Almi Invest.