A UK medical device start-up, which received pre-seed funding from Australia-based AfterWork Ventures, has raised an over-subscribed $US5 million ($7.74) seed round.
Early-stage venture firms New York-based Fortify Ventures and Baltic region-focused Inventure co-led the raising for Samphire Neuroscience.
The round has been supported by athletes-backed sports-focused fund APEX and existing investors AfterWork Ventures, Firstpick Ventures, Ayuh Ventures, Seaside Ventures and others.
Samphire has developed a device that provides, drug-free relief for women who suffer menstrual-related mood and pain symptoms.
Samphire’s Nettle device is an electronic headband which women wear for about 15 minutes a day to relieve pain, low mood and fatigue symptoms caused by dysmenorrhea (menstrual cramps) and premenstrual syndrome (PMS). The device uses non-invasive neuromodulation to directly target regions of the brain responsible for menstrual symptoms to alleviate pain and improve mood.
Samphire was founded in 2021 by neuroscientist Dr Emile Radyte, now the company’s chief executive, and Alex Cook, both members of the AfterWork Ventures network.
The new funding is to be used to step up marketing of the Nettle device and an associated tracking app.
Image: The Nettle device in use.