Neurowyzr, a Singapore-based healthtech company specializing in enhancing brain health and developing state-of-the-art technologies to mitigate early brain decline, has raised an additional $2.1 million 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 $3.3 million, Neurowyzr said in a statement on Thursday.

Its angel investors include Khoo Boon Hui, Chairman of SDAX; Ab Gaur, Founder and Chief Executive Officer of MarTech firm Verticurl; and Rob F Jablonski, Commercial Investment Director, Aquivia Pty Ltd.

According to the statement, 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.

“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 Chief Executive Officer of Neurowyzr.

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 Center, and Professor N Kandiah, Director of the Dementia Research Center, Lee Kong Chian School of Medicine, Nanyang Technological University (NTU).

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 two times increase from 2019.

It is also noted that 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 Organization’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 centers, general practitioners (GP) clinics, community care, and specialist centers, 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 United States Food and Drug Administration.

“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,” he added.

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