Healthtech startup Neuphony has raised Rs 1.1 crore in Seed round from ah! Ventures Angel Platform, DERBI Foundation and IIMA CIIE. The masterminds behind Neuphony are Ria Rustagi and Bhavya Madan, founders of Pankhtech. They wanted to create a wearable device that could calculate brain waves.
Product planning for this took place in Germany. They are India’s first device to support research and developers for BCI. The company’s headquarters are situated in India itself. In June 2021, Neuphony entered a market that was battling COVID-19.
Instead of the pandemic putting a stop on its operations, it pushed the product to a wider consumer market. Many were suffering from mental health problems as the pandemic added changes to many of their lives.
The company plans to secure an additional Rs 1.3 crores in a future round of investment. Their goal is to set up neurocognitive labs across all universities and wellness centres including psychologists in the upcoming years.