SINGAPORE, August 24, 2023 — Neurowyzr, a pioneering healthtech company specialising in enhancing brain health and developing state-of-the-art technologies to mitigate early brain decline, has raised an additional US$2.1M in an oversubscribed seed round.
The round, jointly led by Jungle Ventures and Peak XV’s Surge (formerly Sequoia India and Southeast Asia), with participation from various angel investors*, brings the total amount raised by the company to US$3.3M. The latest round of capital will be used to accelerate the company’s product development and embark on its next phase of regional expansion across Southeast Asia and India.
Neurowyzr is developing solutions to address existing gaps in neurology and brain health, at a time when dementia and mental health conditions are rising at an alarming rate. It is projected that by 2050, 152 million people globally will suffer from Alzheimer’s Disease – a more than 2X increase from 2019. One in four is at risk of having a stroke in their lifetime, and one in eight lives with a mental health disorder.
In line with the World Health Organisation’s (WHO) call for further research into clinical tools for measuring brain health, Neurowyzr has a unique focus on early brain decline when detection and intervention will have an impact in preventing deterioration. Its first product is an online gamified digital neuroscience assessment called the Digital Brain Function Screen (DBFS), which significantly reduces the time and dollar burden of traditional cognitive testing.
Since launch, the Neurowyzr team has worked to enable greater patient access to DBFS across key markets. In Singapore, it can be found in a growing number of health screening centres, GP clinics, community care, and specialist centres, including Parkway Shenton, SATA Commhealth, Farrer Park Hospital, MHC Medical Centre (Amara), and O’Joy. The healthcare providers use DBFS in executive health screening, health screening for active agers, Long Covid assessment packages as well as a standalone service. One of India’s largest private hospital chains recently completed a pilot of the DBFS across five locations in India. DBFS has also been registered with the U.S. Food and Drug Administration.
“Brain decline is a potentially debilitating condition that strikes fear in many people, and brings immense cost on families and societies. Neurowyzr aims to address the unmet needs of people to protect their brain health. We are grateful for the trust that our investors have shown in us, and are excited that the partnership will enable us to make brain health accessible and affordable,” said Pang Sze Yunn, Co-Founder and CEO of Neurowyzr.
“Projected numbers tell a stark story for Asia: over the next two decades, more than 66 million individuals could face dementia, while Mild Cognitive Impairment could affect over 400 million.” said Seemant Jauhari, Partner, Healthcare at Jungle Ventures. “Neurowyzr is a direct response to this challenge. By assessing brain and mental health promptly, we’re building a proactive defence against a potential epidemic. This Singapore-born solution carries a global impact.”
Neurowyzr was established by Nav Vij and Pang Sze Yunn in 2019. Its scientific advisory team includes Dr Prem Pillay, Director of the Singapore Brain Nerve Spine Centre, and Professor N Kandiah, Director of the Dementia Research Center, Lee Kong Chian School of Medicine, Nanyang Technological University (NTU). Most recently, the company was selected for the MedTech Innovator Asia Pacific 2023 cohort, the world’s largest industry accelerator.
*Angel investors include Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and CEO of MarTech firm Verticurl; and Rob F Jablonski, Commercial Investment Director at Aquivia Pty Ltd.
Rumaizah (Rumi) Bar
Neurowyzr is a Deep Neuroscience and Brain Capital company using the latest discoveries in neuroscience to optimise corporate and population brain health and performance. Built by neuroscientists and powered by advanced analytics and AI, Neurowyzr offers a digital platform and software as a service to unlock the potential of individuals and organisations. Neurowyzr has supported leading organisations in Asia in growing their brain capital to build stronger, more resilient and innovative teams.
About Jungle Ventures
Jungle Ventures is a Singapore-based venture capital firm focused on early to growth-stage investments in Southeast Asia and India, with a focus on building long-lasting businesses. Jungle partners with the region’s most exciting founders to build high-growth, capital-efficient technology businesses, and supports their growth from seed to unicorn to IPO. Our portfolio includes regional and global category leaders like Kredivo, Moglix, Pomelo, Livspace, Builder.ai, Sociolla, and more.
About Peak XV
Peak XV (formerly Sequoia Capital India & SEA) is a leading venture capital and growth investing firm investing across India, Southeast Asia and beyond. Peak XV (pronounced Peak Fifteen) was the name used for Mount Everest before it was called that. It embodies everything we believe about building long-lasting businesses that stand tall and inspire greatness.
Over the last 17 years of our operations in the region, Peak XV has grown to manage over USD 9 billion in capital across 13 funds and invested in over 400 companies.
To know more, please visit: www.peakxv.com
Surge is Peak XV Partners’ rapid-scale up program. Surge combines up to USD 3 Mn of seed capital with company-building workshops, a global curriculum and support from a community of exceptional mentors and founders. The program’s goal is to supercharge early-stage startups in India and Southeast Asia and give founders an unfair advantage, right out of the gate. For more information on Surge, visit www.surgeahead.com.
Redhill, on behalf of Jungle Ventures
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