US-based neurotechnology developer Rythm has launched its electronic sleep aid, Dreem, and disclosed $22m of funding from backers including insurance firm Maif and angel investors Xavier Niel and Laurent Alexandre.
Dreem is an electronic headband that is worn while sleeping. It uses polymer EEG electrodes to monitor brain activity, and auditory stimulation to help a user get to sleep more quickly and sleep more deeply.
Although Rythm did not specify when the funding was raised, it had previously said in March 2016 that it had raised more than $11m from investors including Niel and Alexandre, suggesting Maif is a relative recent backer.
Hugo Mercier, co-founder and CEO of Rythm, said: “Everybody can benefit from better sleep and we wanted to launch a product that could work for anyone, regardless of their issue.
“Our goal was to launch a complete, comprehensive solution with multiple features so that it can help as many people as possible. We know with Dreem we have a long journey ahead. With the announcement of Dreem we have achieved a major milestone towards that goal.”
– Photo courtesy of Rythm