News

A big boost to brain sensing technology strikes a chord with global investors

August 16, 2013

TORONTO, Aug. 16, 2013 – InteraXon, the creator of Muse: the brain sensing headband and other brain-enabled experiences, announced at the GROW2013 Conference it has raised $6 million in Series A financing from a number of prominent investors, including Horizons Ventures, OMERS Ventures, A-Grade Investments, ff Venture Capital, Felicis Ventures, and Bridge Builders Collaborative.

This new round of financing will enhance InteraXon’s position as a leader in brainwave enabled devices, applications and experiences with a heavy focus on their first commercially available device, Muse—a six sensor brain sensing headband designed for every day use available in early 2014.

“The fit with InteraXon was clear from the start,” said Jason Wong, Director of Horizons Ventures. “We chose to invest our capital in InteraXon because of the team’s vision of brain sensing technology and their clear articulation of a consumer-friendly, yet game-changing device.”

InteraXon will launch Muse with their Brain Health System, a platform including the Muse brain sensing headband and brain fitness application. The brain health app includes scientifically validated exercises that work with the real-time feedback sensed by the headband to help users enhance their cognitive skills and EQ. Stress management, focus, improved memory are just a few of the many benefits. This is one of several apps in the Muse pipeline InteraXon is developing to help people get the most out of the mental skills they already have and do more with their minds than they ever thought possible.

“We see the Muse headband as the first truly consumer-friendly, thought controlled computing device. We were drawn to InteraXon for their engaging applications, domain expertise, and thought leadership in their market space,” said George Babu, Director at OMERS Ventures. "This investment is directly aligned with OMERS Ventures' strategy of seeking out promising Canadian technology companies with disruptive potential."

A-Grade Investments, ffVC, Felicis Ventures and Bridge Builders Collaborative also see the vast opportunities InteraXon offers investors and consumers alike.

"With InteraXon's Muse, you can merely use your brain to make things happen. By turning what seems like science fiction into reality, they're defining an entirely new category of wearables that are thought controlled,” says Sundeep Peechu, partner at Felicis Ventures.

“These investors have experience with disruptive technologies which will prove invaluable to our growth. We have some of the best technology investors in the world as our partners,” said Ariel Garten, CEO & Founder of InteraXon. “We are looking forward to working alongside their extensive knowledge base to bring the affordances that brain sensing technology can provide, to consumers, in meaningful ways for daily life.”

About InteraXon

Founded in 2007, InteraXon is a Toronto-based company and innovator in the emerging field of brainwave controlled technology, designing meaningful and transformational experiences from a levitating chair to a thought controlled beer tap. Over 30,000 people have experienced InteraXon’s brain sensing experiences, and it continues to grow.

InteraXon has worked with top-tier packaged goods, transportation and tech companies, providing brainwave-enabled customer engagement programs and promotions. During the 2010 Vancouver Olympics, InteraXon allowed visitors to control the lights on Niagara Falls, the CN Tower and Canada’s Parliament buildings with the power of their minds from over 2000 miles away.

Focused on making the technology accessible, affordable and an integral part of people’s everyday lives, InteraXon is committed to bringing awareness and understanding to the scale and scope of possibilities within brain sensing technology and the impact it will have globally as it becomes more market-viable.

To learn more about InteraXon, go to www.InteraXon.ca or follow us on Twitter.

To learn more about Muse, go to www.findyourmuse.com or email community@InteraXon.ca

About Horizons Ventures

Based in Hong Kong, Horizons Ventures manages the Internet and technology investments of Mr. Li Ka-shing globally. Notable investments included Skype, Facebook, Spotify, Siri and Waze.

About OMERS Ventures

OMERS Ventures (Twitter: @OMERSVentures) is the venture capital investment arm of OMERS, one of Canada's largest pension funds with more than $60 billion in net assets. It is an initiative of OMERS Strategic Investments (OSI), an investment entity with a mandate to build long-term strategic relationships with like-minded partners. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy.

For more information please visit www.omersventures.com.

About Felicis Ventures

At Felicis Ventures, our Mission is to back the world’s most iconic companies of today and tomorrow. Our founders have a passion for product, thinking out of the box to solve hard problems and dominate critical markets. Since 2006 we have invested in over 100 companies, 46 of which have been acquired by industry leaders such as Apple, AT&T, Disney, eBay, Facebook, Google, Groupon, Intuit, Microsoft and Twitter.

About A-Grade Investments

A-Grade Investments is a venture capital fund founded by long-time friends Ashton Kutcher, Guy Oseary, and Ron Burkle to opportunistically invest in technology start-up companies.

About ff Venture Capital

ff Venture Capital is an institutional venture capital firm in seed-stage companies. Since 1999, the firm have made over 180 investments in over 72 companies. Notable exits include Cornerstone OnDemand (IPO, CSOD) and Quigo Technologies (sold to AOL for a reported $340m). ffVC has twenty employees based in New York and New Jersey and extensive resources dedicated to portfolio acceleration, including strategy consulting, recruiting assistance, in-house accounting services, communications and PR strategy, engineering assistance, a pool of preferred service providers and an executive portfolio community.

To learn more about ff Venture Capital, visit: www.ffvc.com

About Bridge Builders Collaborative

The Bridge Builders Collaborative's mission is to fund and support the visions of social entrepreneurs with scalable solutions that build bridges to mind-training, and the impact mind-training can have on people's lives. We see a world where those who imagine deeper, richer connections with themselves are offered practical paths to achieve meaningful growth in their lives. Bridge Builders is the vision of Scott Beck, Scott Kriens, Austin Hearst, and Jeff Walker.

For more information, go to www.bbcollaborative.com