Motif Neurotech, a Houston, TX-based neurotechnology company developing minimally invasive bioelectronics for mental health, raised $18.75M in Series A funding.
The round was led by Arboretum Ventures, with participation from new investors KdT Ventures, Satori Neuro, Dolby Family Ventures, re.Mind Capital and existing investors Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures and Capital Factory.
The company intends to use the funds to advance the development of its lead product, the DOT microstimulator, a miniature brain pacemaker that is designed to precisely stimulate the brain to restore healthy circuit activity to treat mental health disorders.
Led by CEO and Founder Jacob Robinson, Motif Neurotech is working for wireless minimally-invasive neuromodulation therapeutics for mental health. Its lead product is a miniature implant in development for treatment resistant depression. Motif’s implant is enabled by wireless magnetoelectric empower transfer technology developed at Rice University.
Commenting on the news, Jacob Robinson said: “Thirty percent of patients with depression don’t respond to two or more medications, and there is a significant need for additional treatment options that are effective and easily accessible. The DOT microstimulator is a wireless, battery-free device designed to be implanted in a 20-minute outpatient procedure with the capability for at-home therapy. This round of financing will allow us to bring this technology into a clinical study for patients with TRD.”
FinSMEs
24/01/2024