Neurotech company Mentalytics secures SEK 4,4M investment through value-adding investors
Mentalytics, the Stockholm-based neurotech pioneers, secures a total investment of SEK 4,4M in preparation for a huge growth spurt with the launch of their new productline directed towards improving performance in manufacturing.
Launched in 2003, Mentalytics has been at the forefront of commercial neurotech for as long as the industry has been around. Their flagship product, Mindball, has been sold to science centers across the entire globe. After a long-awaited pivot towards software, and a couple of years of development, the company is now ready to take on the challenges of productivity and performance in the workplace.
The majority of existing shareholders defended their stake in the company. Joining them were a varied group of angel investors which fulfilled the quota regarding the added value which Mentalytics was looking for with this round of funding. Among that group where experienced investors like Skagen founder Åge Westbø along with previous fund manager at Skagen, Filip Weintraub.
"There is a growing demand for tools and techniques that help individuals improve their focus and concentration in today's fast-paced world, where distractions are ubiquitous. The need to stay productive and focused is increasingly essential, both for personal well-being and professional success." says new investor, Filip Weintraub.
With exciting pilots from major automotive companies like Kia Motors and Jaguar Land Rover, the Mentalytics team now wants to expand its efforts towards the manufacturing industry. The capital will be used to; Initiate and build the proper sales channels in order to access the various sub-sectors of manufacturing; scale operations across Europe; advance the platforms analytics and data visualization; and further investigate which KPIs can be positively impacted by focus training.
Existing shareholder & Carflip CEO, Emil Söderlund, had this to say about the round: "With the pivot towards the automotive industry, which we ourselves operate in, we wanted to defend our stake in the company. The news regarding Kia and Jaguar are exciting and we thought that the cause for the funding round was something we could get behind."
Now Mentalytics looks towards utilizing their added value and experience together with the funds, and execute on their Go-To-Market Plan.
"We want to build a solid foundation within manufacturing through pilot cases and results-based-data, and later use this foundation to scale our operations across all of Europe at the start of 2024." CEO of Mentalytics, Charlie Ohlén.
Charlie Ohlén, CEO
charlie@mentalytics.com
+46850046040
+46733189054
Mentalytics AB is a Swedish Neurotech company, founded in 2002. The company has been industry leading in commercial EEG since its foundation. Their flagship product Mindball has been sold all over the world and has had more than 10 million people play it.
Mentalytics currently works with their new software-related product offering where it helps factory operators, sports athletes, and students, to train and improve their focus in order to increase performance in their relevant fields.
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