UK digital health startup Oto has been selected to raise £ 510,000 in pre-seed funding to join Silicon Valley’s prestigious Y Combinator accelerator.
Providing tinnitus support via a mobile app that integrates the latest treatment technologies together, Oto said he would use cash to accelerate clinical validation and strengthen the international user base. This funding will also facilitate some key recruitment to lead product development ahead of the seed round planned for later this year.
The pre-seed round was attended by prominent angel investors such as Acequia Capital, West Midlands Academic Health Science Network SME Innovation Fund, CalmStorm Ventures, Bethnal Green Ventures, and Simon Franks, Errol Damelin, Alex Stephany, Matt Robinson and Ian Hogarth. did.
With acceptance by Y Combinator, Oto has become one of the 15 UK health tech startups to join the exclusive Silicon Valley Accelerator since it began accepting companies in 2005.
Y Combinator Providing seed funding and mentoring for promising startups. We’ve supported some of the world’s most successful technology disruptors, including Airbnb, Dropbox, and Reddit.
Earlier this week, Y Combinator New funding model For YC companies, the capital they offer will more than quadruple from $ 125,000 to $ 500,000.
Sound uses this support to transform the provision of tinnitus support, which currently has no cure and is affecting one in seven people worldwide.
According to the guidance of the National Institute for Health and Care Technology, the recommended first-line treatment for tinnitus-related pain is digital cognitive-behavioral therapy, but there was no definitive solution.
Co-founders of Oto include tinnitus patients and former army surgeons Dr. Edmund Farrar, Dr. George Leidig, and ENT registrar Jamesel Muzaffar.
The startup’s mobile platform is built by audiologists, doctors, therapists and researchers with the goal of maximizing the quality of life for people with tinnitus.
Oto’s three-month virtual boot camp begins this month and ends at the end of Cohort Demo Day. It is presented to selected investors who are considering investing in the next high-tech game changer.
“Tinnitus can be debilitating, so as a team, we look forward to learning from the best innovators and entrepreneurs while exploring new ways to accelerate growth and make a difference in the lives of many who live with tinnitus. “Sound co-founder and former RAF doctor Dr. Edmund Farrer said.
Dr. George Leidig, co-founder of Oto and former Royal Navy physician, said: Our mobile app needs to make effective treatments available to everyone with tinnitus so that anyone can access a full-fledged targeted CBT program created by tinnitus experts. thinking about. “
UK Tinnitus Health Startup Scoops £ 510,000 and Joins Y Combinator
Source link UK Tinnitus Health Startup Scoops £ 510,000 and Joins Y Combinator