Dementia can be detected early by memory disorders. The number of affected people in Germany currently ranges from 4 to 6 million. As the disease progresses, it develops into pronounced dementia.
To come up with a prevention cure, Potsdam, Germany-based digital health startup, memodio has secured €400K from HPI Seed Fund (a German VC firm that also backed Seatti), the FMW Foundation, and Mosel Ventures. Many business angels, such as Oliver Heine and Bettina Seim (Heine Optotechnik), Daniel Lauchardt, and Alex Pushilov (Founder & CEO Apriwell), also participated in the round.
The funds will be used to advance memodio’s mobile app development and to certify it as a medical device.
Dr. Doron Stein, author of “Care for Early Alzheimer’s Disease” and CEO of memodio says, “In recent years, there has been increasing scientific knowledge about which non-drug therapies have an effect on cognitive decline. However, this knowledge is not available to
most patients. memodio translates the latest findings into therapy for those affected so that they can individually reduce their risk of dementia. The feedback from users so far has been very positive. Together with our investors, we now want to rapidly complete and scale our product for the benefit of the many people affected by this disease.”
Prevention and therapy of dementia
Memodio is a spin-off of the Hasso Plattner Institute and the University of Potsdam founded by Doron Stein, Felix Bicu, and Paul Zimmermann. By using digital tools such as mobile apps, the company aims to improve dementia prevention and treatment.
Memory application memodio aims to prevent dementia in people who are suffering from the onset of memory loss using the latest research findings. According to the German platform, patients can go through an individualised therapy plan every day to combat dementia early on. Based on the results of the latest dementia prevention studies, the app promotes cognitive health and prevents dementia.
Dr. Frank Pawlitschek, Managing Director of HPI Seed Fund says, “With its mental health focus, memodio is targeting a major social challenge. People with dementia and its precursors in particular are still often underserved. The solution combines scientifically based findings and the advantages of a software-based solution. HPI SEED financially and with our large network preferentially supports teams that develop scalable products based on digital technologies to achieve societal impact.”
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