Hinduja-backed MindMaze, a health tech startup prying for growth in the multibillion-dollar digital neurotherapeutics market, announced that it had secured $105 million.
The financing will be used to accelerate its global commercial growth plans, supercharge ongoing R&D and consolidate the clinical development pipeline of its industry-defining digital therapeutic solutions for a broad spectrum of neurological diseases.
The financing provides immediate access to funds and a financing facility to fund growth and future acquisitions. The funding was led by Concord Health Partners, a US-based healthcare private equity firm and AlbaCore Capital Group, one of Europe’s leading specialist investors.
The round also saw London-based Hambro Perks, an investor with deep expertise in the sector and a global portfolio of disruptive, highly scalable companies, and several family office investment groups.
MindMaze enters into a partnership with The American Hospital Association
Meanwhile, as a result of Concord’s investment, MindMaze will initiate a collaboration with The American Hospital Association (AHA).
The AHA serves as the national advocate for its provider member organizations, including nearly 90 percent of US hospitals, health systems and other health care organizations, and 300,000 executives from health care organizations in the field.
“The AHA is excited to join initiatives to promote and advance the delivery of digital therapeutic solutions for neurological diseases in accessible settings, and MindMaze will enable our hospitals, health care systems and other providers of care to offer new, innovative solutions to help treat their patients,” said Doug Shaw, Senior Vice President, Business Development, AHA.
MindMaze delivers seamless digital assessments and therapeutics for patients suffering from neurological conditions
MindMaze is ushering in a new era of medicine through novel tech-enabled protocolized software and hardware peripherals to address cognitive severe and movement deficits.
The funding announcement underscores the Company’s position as a pioneer in digital neurotherapeutics on the heels of a tremendous milestone for reimbursement with Category III codes for asynchronous care.
Ajay P. Hinduja said, “We believe in empowering technologies that can lead to global transformation, and MindMaze’s brain technology platform will deliver breakthrough solutions that will redefine brain health and have a global impact.”
“We are entirely devoted to assisting the company’s success in the coming years and bringing sustainable, transformational technology to the healthcare sector in all global markets, including India,” added Ajay P. Hinduja.
The Company is poised to change the care paradigm for millions of patients and caregivers globally. Leonardo Dicaprio also backs the venture.
“This funding allows us to ramp up commercial activity and expand our footprint in the US, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally,” said Tej Tadi, Founder and CEO of MindMaze.