Funds from US investors
Mindmate secures $2m to develop dementia app
Founders: Patrick Renner, Rogelio Arellano & Susanne Mitschke
A firm targeting dementia sufferers, set up by a team of university graduates, has secured $2 million of venture capital funding to develop its ‘brain training’ app.
MindMate has closed the funding round with US-based investors LaunchCapital, Telegraph Hill Capital, Mucker Capital, PLG Ventures, Luma Launch and Potential VC.
The data collected on the app will be match patients with clinical researchers to help devise better therapies for the debilitating condition.
Chief operating officer Patrick Renner said: “We are not only helping people with cognitive decline, but also helping to accelerate new therapies in this area.”
MindMate chief executive Susanne Mitschke added: “Conditions like Alzheimer’s and dementia affect so many of us, not only the sufferers but family, friends and the support systems around those living with the condition.
“We are on track to develop a product, build a community and bring people closer together with the research and industry players that can make a lasting difference to how we manage these conditions in the years ahead.”
The business, which was founded in Glasgow and also has a base in Los Angeles, was set up by Mr Renner and Ms Mitschke alongside chief technology officer Rogelio Arellano and former marketing head Gabriela Matic.
Mr Arellano came up with the idea for the app after he and his family developed a number of activities to help his grandfather deal with Alzheimer’s.
Ms Matic left the business in 2016 and is now a programme director at Ignite Accelerator, a Newcastle-based support and investment network for start-up businesses.