StimScience Raises Seed Funding, Sows Patents Early

California-based startup StimScience announced in April of 2021 that it had raised $6M in seed financing and is developing a consumer brain stimulation device to improve sleep. When it comes to sleep monitoring, the field is dominated by wearable and tech companies including Fitbit and Samsung. However, StimScience has three patent assets for a device that both monitors and stimulates neural activity related to sleep, giving it an advantage in the field. Its most recent application was filed in December of 2020, a few months before the fundraising.

Sleep stimulation is a fairly small category, with only 54 patent assets and limited market adoption. Prominent patent owners include Thync, which has since pivoted away from sleep to psoriasis treatment, and Neuvana, which focuses on the vagus nerve and earbud stimulators. Philips showed early interest in sleep stimulation, with four patents filed before 2010, but has not had any more recent activity. If StimScience’s devices are effective, it is in a good position to take market share as well as leverage its patents for licensing and/or acquisition in the future. You can follow this company and more with the Consumer Sleep Patent Forecast®.