Maker of Muse meditation headband raises $9.5 million
I am a mediocre meditator, at best. Some weeks I meditate every morning, and some go by without meditating at all. It turns out that healthy habits are much harder to develop than good ones. I’ve tried different meditation devices over the years, because who wouldn’t love a nice shortcut to mindfulness?
Of the products I’ve tried, Muse is the one I’ve found legitimately useful. Of course, nothing will make you a great meditator overnight (or long-term maintainer), but the product has been helpful in helping me establish a more regular practice.
This week, Muse creator Interaxon (it’s probably time to change the company’s name to Muse) announced a $9.5 million Series C, led by BDC Capital, Sonny Vu’s Alabaster and Export Development Canada. Funding is low, by 2022 standards, but it finds the Toronto-based company reading the launch of a new subscription service due to arrive early next year.
From the sound of it, it’s a similar move to a premium subscription service like the one Oura went through a while ago. Here, the company leverages EEG readings from the headband to offer personalized insights and create a sort of global meditation database where users can compare themselves to the average.
The company aims to leverage these models through the development of breakthrough metrics that will provide users with meaningful insights into brain health and lifestyle factors (i.e. meditation, sleep, alcohol, stress, exercise, diet, etc.) that affect it. These custom insights and other new biosensor trending reports will be rolled out later this year and will be included in the new membership program.
The offer also seems to find the company considering some sort of hardware-as-a-service model, which costs around $300 upfront – definitely a major barrier to entry for a product you really need to use. to understand well.
The company also has recently announced an SDK initiative designed to use its brain-sensing technology for potential metaverse applications.