A Swiss tech startup closed a seed funding round for an innovative gadget used to treat a sleep disorder with unpleasant symptoms: bruxism.
Aesyra announced Wednesday that it had raised US$3 million for development and commercialization of the AesyBite device. Supermoon Capital, a venture firm solely focused on the sleep technology market, led the funding round.
Aesyra describes itself as a spin-off from Switzerland’s Federal Institute of Technology of Lausanne (EPFL), a research university founded in 1853. The company says AesyBite’s technology was developed by researchers and algorithms from that school.
Sleep bruxism is a disorder that causes affected individuals to clench and grind their teeth at night. It can damage a person’s teeth, cause sleep issues and give them headaches while causing muscle tension and facial pain as well. Aesyra says tests have shown that its device can reduce bruxism occurrences by over 70 per cent.
More specifically, Supermoon says the device monitors occlusal/dental activity with sensors in people suffering from the disorder. It then provides a bio-feedback signal in the form of a mild vibration that stops the bruxism without disturbing their sleep. Aesyra says it uses artificial intelligence too, but doesn’t specify how.
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“This significant investment marks a pivotal moment for Aesyra,” the company’s Founder, Marco Letizia, said. The Swiss venture capital fund Creadd Ventures and the country’s major bank, Zürcher Kantonalbank, were the other two leaders of the financing.
“Aesyra’s advanced technology is a tremendous breakthrough in the field of sleep science for the treatment of sleep bruxism,” Supermoon’s Managing Partner, Michael Masterson, said. He and Creadd’s Founder Lorenzo Leoni will join the company’s Board of Directors.
Aesyra launched in 2018. The company received a $38,775 cheque from the START Summit that year, a major European startup conference.
Aesyra is the Start Summiter 2018 !
Thanks to @START_Summit for organizing this fantastic event!#STARTSummit https://t.co/dXGC7ZeFu1— aesyra (@aesyraOfficial) March 16, 2018
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Supermoon has invested in a series of different sleep tech companies from Switzerland, the United States, Israel, Germany, the Netherlands, New Zealand and the United Kingdom.
The firm aims to be the premier source of expertise and capital for what it describes as the emerging “Night Market.” About 75 per cent of Americans suffer from recurring sleep issues, according to the firm.
Aesyra says the AesyBite device also helps to treat sleep apnea and that bruxism is often linked to that disorder.
rowan@mugglehead.com
