Apollo Neuro is looking to extend its reach into international markets after bringing in $15 million in Series A funding. The round was led by Noetic Fund, while Apollo Neuro itself was valued at more than $100 million.
The money will help Apollo Neuro grow the market for its stress-relieving wearable device. The Apollo wearable is currently only available in the US, Europe, Canada, Australia, and New Zealand, and comes with a price tag of $349.
According to Apollo Neuro, its device is unique because it actively lowers stress, which distinguishes it from devices that simply monitor the wearer’s vital signs. To that end, the device is worn on the wrist or the ankle, and emits vibrations to soothe the wearer in stressful situations. The system is designed to trigger the wearer’s nervous system, using the sense of touch to train the system to switch from fight mode to recovery mode more quickly.
In doing so, the Apollo wearable gives people a greater sense of control, which in turn makes it easier to relax and recharge during downtime. A study with 500 participants found that those with the Apollo wearable enjoyed more deep sleep and more REM sleep, and had a lower resting heart rate and a higher heart rate variability. They also had more energy, less anxiety, and were better able to focus on their chosen task.
“Apollo Neuro’s touch technology represents an entirely new way to think about wearables,” said CEO and Co-Founder Kathryn Fantauzzi. “With our Series A closed, we’re geared up and ready to deliver new ways to experience Apollo Neuro. I’m excited to show what’s possible when you tap into the sense of touch to enable us to choose how we feel.”
Apollo Neuro is hoping to capture a portion of an anticipated $19.12 billion market for wearable technology. WHOOP was recently valued at $3.6 billion following a round of Series F funding, while Medibio has released a new app that generates stress scores to help people identify the things that trigger negative reactions.