Sooma Medical Ltd, a Helsinki, Finland-based medical device company developing non-invasive brain stimulation devices for treatment of neurological and psychiatric disorders, raised €1.25m in funding.
This included €1.0m in equity from Finnish and Italian Angels members, along with a €250k grant by Business Finland.
Established in 2013 and led by Tuomas Neuvonen, CEO, Sooma is developing, manufacturing and marketing a non-invasive therapy device for neurological and psychiatric disorders (depression and chronic pain). Its depression therapy technology modulates neuronal activation in the frontal areas of the brain, can be self-administered by the patient at home, and after about three weeks of completing one 30-minute session per day. It is not associated with any serious or systemic side effects.
The company works with experts in psychiatry and clinical neurophysiology to provide care for depression and chronic pain. The board and advisors are seasoned medical and healthcare technology experts with backgrounds in corporate leadership and entrepreneurship.