Samsung Ventures Invests in Earable® Neuroscience, Expanding Strategic Footprint in Consumer Wearables for Sleep Tech
BOULDER, Colo., June 21, 2023 (GLOBE NEWSWIRE) — Earable® Neuroscience announces the completion of the investment process in its bridge round by Samsung Ventures at an undisclosed amount. This financial investment underscores Samsung Ventures’ commitment to advancing healthcare technology for the future and recognizes the potential of Earable’s FRENZ® Brainband as a consumer sleep tech wearable. Prior to this bridge round, Earable was funded by Founders Fund, Smilegate Investment, 500 Global…
Earable Neuroscience has developed FRENZ® Brainband, which incorporates cutting-edge neuroscience technology into a consumer wearable to enhance sleep quality, improve focus, and promote relaxation.
The AI-powered FRENZ® tracks and stimulates brain activity by delivering real-time personalized audio content through integrated bone-conduction speakers. The core technology was developed by scientists at the University of Colorado (USA) and Oxford University (UK), with 15 global patents. Earable has positioned itself as a global leader in the field, with most recent recognitions from CES Innovation Awards 2023 and Red Dot Design Awards 2023.
FRENZ® is poised to pioneer the unobtrusive sleep-aid products, in a fast-growing market valued at $64B in 2021 (Source: Polaris Market Research). FRENZ® was featured in BBC, Bloomberg, Mashable, and Reviewed.com as the sleep tech trend to watch in 2023.
Samsung Ventures plans to forge alliances within its global network to support Earable’s global market expansion. Samsung Ventures’ investment team expressed their enthusiasm, “We recognized the immense potential of FRENZ, with its exceptional core technologies and pioneering status in the sleep tech industry and potential in other cognitive areas.”
Earable Neuroscience’s CEO, Tam Vu, stated, “Since day one, our vision has been to make the everyday advantages of neuroscience accessible to everyone. FRENZ holds the key to unleashing human potential, starting with the sleep experience. With Samsung Ventures’ extensive ecosystem support, we look forward to providing the best experience to consumers worldwide.”
Earable shipped the first batch of product to its customers in May 2023. The company has plans to initiate a Series A fundraising round in Q4 2023 to expand its operation, scale up product delivery and expand product portfolio.
About Earable® Neuroscience
Earable® is a deep tech company building a neuroscience ecosystem for everyday life. Earable’s FRENZ® Brainband is the world’s first AI-powered consumer wearable that can track and stimulate brain activities for better sleep, focus, and relaxation.
Pre-order at www.frenzband.com
Contact: [email protected]
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