Tuesday 18 December 2018

Irish-based firm behind weight management wearable tech raises £1.2m in IndieGoGo campaign

Modius
Modius
Louise Kelly

Louise Kelly

An Irish-based company that has created unique weight management wearable tech has raised £1.2m in its IndieGoGo campaign.

The fundraising by Neurovalens, the firm behind the Modius headset device, has allowed further growth and local job creation.

The campaign by the Belfast-based company is the most successful fund-raising ever run by a Northern Ireland company on the IndieGoGo platform, overwhelmingly surpassing Modius' original target.

Neurovalens intends to use the funds to invest in additional research to further develop Modius, further development of the ModiusLife community and showcasing the product at leading global events including Consumer Electronics Show (CES).

Chief Executive Officer (CEO) Jason McKeown said the significant global response - from more than 4000 customers across 84 countries - shows that people want wearables which actively help them.

"We see Modius as the first generation of ‘careable technology’, in our case helping people get lean through stimulation of the vestibular nerve – we know we can help adults with weight-loss and weight-management," he said.

"We think we’re in the early foothills of a neuroscience-led revolution in global health."

Recently launched ModiusLife community has been designed to support users of the headsets, which are currently being shipped worldwide.

An early investor in Nuerovalens, Techstart NI has endorsed the company’s achievements.

"This is a highly ambitious company, employing top talent and offering truly global potential. It faces an exciting future and we look forward to supporting Neurovalens on its journey," he said.

Modius remains available for sale on the IndieGoGo website.

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