EIT Health Catapult finalist Mindpax receives €1.3 million seed financing to further develop their monitoring system to predict severe mental health attacks.
According to the World Health Organisation, one in four people in the world will be affected by mental or neurological disorders at some point in their lives. Around 450 million people currently suffer from such conditions, placing mental disorders among the leading causes of ill-health and disability worldwide.
The startup Mindpax is addressing this issue with a monitoring platform for tracking crucial biomarkers which reflect the overall functioning, mental and physical health of the individual. Founded in 2015, Mindpax targets people suffering from schizophrenia or bipolar disorder, for whom they have developed a personalised e-health platform with an app that continuously and long-term records the development of the disease via a wearable. By visualising comprehensive data of activity, sleep, mood and external events that may affect the health condition, Mindpax is able to speed up the learning process of psychiatric illness management and ensure relapse prevention.
Last year Mindpax was included in the Johnson & Johnson Accelerator JLABS, was selected as the most promising health startup at BioVaria 2019 in Munich and as one of the two German startups for the EIT Health Go Global Canada program.
In April, 2020 the startup announced closing a €1.3 million seed financing from Czech investors Nation 1, Redwood Capital and private investors Ivan Hruska and Vlastimil Palata to further expand their teams in Prague and Munich and drive expansion in Europe.