By Health In Five Writer
The Hinduja supported MindMaze, a global pioneer in the multibillion-dollar digital neurotherapeutics market, has secured a $105 million financing round to accelerate its global commercial growth plans and ongoing R&D.
The financing round provides immediate access to funds, and a financing facility to fund growth and future acquisitions. The financing was led by Concord Health Partners, a US-based healthcare private equity firm focused on investing in and supporting healthcare companies with innovative technologies and solutions that address quality, cost and access to care along with other investors. AlbaCore Capital Group are building on their existing investment. This round also included participation from London-based Hambro Perks.
Ajay P Hinduja, member of the 3rd Generation of the Hinduja Family stated, “We believe in empowering technologies that can lead to global transformation, and MindMaze’s brain technology platform will deliver breakthrough solutions that will redefine brain health and have a global impact. We are entirely devoted to assisting the company’s success in the coming years and bring sustainable, transformational technology to the healthcare sector in all global markets including India.”
“This funding allows us to ramp up commercial activity and expand our footprint in the U.S, as well as gain access to strategic partners as we continue to deploy solutions across the continuum of care globally,” said Tej Tadi, Founder and CEO of MindMaze.
“MindMaze has been at the frontier of brain tech since its inception, and we’ve been an essential part of the incredible advancements over the last decade across brain sensing, motion capture, mixed reality platforms, new architectures for brain inspired computing and machine learning/AI. We are thrilled that our incredibly supportive partners at AlbaCore will be increasing their investment in MindMaze and pleased that important strategic growth investors, such as Concord Health Partners and the larger investment community, see the broad- reaching potential of our digital neurotherapeutics platform as we continue to accelerate humanity’s ability to recover, learn, and adapt,” he added.
James Olsen, Founder & Managing Partner at Concord stated, “MindMaze has developed the leading technology and approach to digital therapeutics for neuro-rehabilitation and restoration, providing clear benefits to patients, providers and payors. We believe this notable advancement in treatment and therapy will meaningfully improve brain health and recovery for a wide range of conditions. We are thrilled to partner with Tej and the MindMaze team to build on its impressive track record and to support clinical and commercial expansion in the US market.”
MindMaze will initiate a partnership with The American Hospital Association (“AHA”). The AHA is committed to the advancement of innovative healthcare solutions and serves as the national advocate for its provider member organizations, including nearly 90% of US hospitals, health systems and other health care organizations as well as 300,000 executives from health care organizations in the field.