Eindhoven-based Alphabeats, a digital mental wellness platform, announced on Thursday that it has secured €1.5M in a Seed round of funding led by DeepTechXL and followed-on by LUMO Labs.
Alphabeats says the funds will help it to further develop its patented technology offering EEG-based mental training to improve performance in elite athletes.
Alphabeats: What you need to know
Founded in 2019, AlphaBeats is a health tech venture that uses neurofeedback technology and a patented algorithm developed by Philips.
“Neuroscience is the future of elite athletics and top performance. We’re very excited to be at the forefront of this movement,” shares Jur Vellema, co-founder of Alphabeats.
The company’s technology uses music to guide athletes into a flow state, a mental state of high performance characterised by alpha brainwaves. A patented algorithm and neurofeedback technology allow the app to determine a user’s stress level.
First, the user opens the app and listens to their favourite music.
The app measures breathing and heart rate variability via smartphone or connected smartwatch as the person listens. The algorithm increases alpha waves in the brain, which lowers the user’s stress level.
The Dutch company claims that the consistent use of its customisable training system increases alpha brainwave activity in users and delivers lasting improvements to their mental performance.
“AlphaBeats users only need the app, a smartphone, and 10 minutes per day to listen to their favourite music. Introducing this new daily routine promotes excellence and mental well-being,” says the company.
However, users need to have a Spotify Premium account to use it.
“As a company, we have great ambitions, and you need great partners. We all share the same big vision and are excited to combine forces to make a global impact in mental performance,” says Han Dirkx, co-founder and CEO of Alphabeats.
Investors
LUMO Labs creates opportunities for impact-driven software and smart hardware startups. The current LUMO Fund II is a €20M impact-driven multi-stage capital fund. It includes a two-year venture builder programme to support its portfolio companies in gaining financial success, social traction, and impact.
A few days back, LUMO Labs invested €1M in Arnhem-based VR game tech company Enliven, in collaboration with Oost NL.
“With this investment, the Alphabeats team will take the next steps to validate their product with a select ‘high demanding’ group of professionals to create a wider impact in a later stage to a large group,” says LUMO Lab’s Founding Partner Andy Lürling. “We are delighted to see Alphabeats grow into the next phase.”
“We’re looking forward to partnering with Alphabeats and offering more than just capital. We’ll make use of the deep knowledge, experience, network, and resources of the companies and knowledge institutions associated with DeepTechXL to boost the unique technology of Alphabeats,” said Ronald Meersschaert, Managing Partner of DeepTechXL.
