Korean startup Ybrain announced Wednesday that it has raised $3.5 million in Series A funding for its work on wearable devices designed for the medical field.
The funding, which was led by Stonebridge Capital, brings the total amount raised by the company to $4.2 million, according to TechCrunch. Seungyeon Kim, co-founder of Ybrain, said the money will go towards testing and making wearables.
Founded in 2013, Ybrain focuses on developing wearables that are used by patients with Alzheimer's disease. The company was founded by neuroscientist Kyongsik Yun and engineers from Samsung.
The Ybrain headband features two sensors in the front that emit electrical signals at 2-milli-amperes, TechCrunch reported. The signals serve to stimulate brain activity in order to stop symptoms of Alzheimer's. The headband is also designed for people with "mild cognitive impairment," and is meant to be used for 30 minutes a day, five days a week. Users can wear the device in the convenience of their homes.
The startup plans to hold clinic trails for other neurological disorders as well, VentureBeat reported.
The wearable is based on brain signals, and Ybrain is using it to create a large data platform made up of brain signal data collected from the devices. The data would be used to develop more personalized treatments and create specialized products for Alzheimer's patients.
Ybrain is looking to make the wearables available to customers online and at hospitals once it completes its trials. The company must also register with the Food and Drug Administration (FDA) in the U.S. and the Korean Food and Drug Administration (KFDA) before selling the devices.
"Most Alzheimer's disease experts are forecasting that new Alzheimer's oral medications may not come out until 2025," said Fortune Sohn, analyst at Stonebridge Capital. "Ybrain's global first Alzheimer patient ready wearables will be a great solution."
