Sleep monitoring startup Rythm – French Tech Hub client and member of our 2017 Medicen Delegation, recently announced the closing of a $11M funding round, together with the commercial launch of their sleeping solution Dreem.
This funding round comes from billionaire French entrepreneur Xavier Niel (the man behind Station F), biotechnology doctor Laurent Alexandre, and French insurance leader MAIF. It adds up to the first $11M raised in July 2016, for a total of $22M. This money will allow Rythm to invest further in R&D to improve the features of the Dreem headband, and to support marketing and communication efforts for the commercialization of the solution.
The official launch of Dreem was made in Paris during the tech conference Vivatech 2017. The device is now available for preorder at $399 until July 15, and will then be sold at $499. This headband, associated with a smartphone app, aims at improving the overall quality of sleep for its users by sending rhythmic sounds, helping you “fall asleep faster, get deeper sleep, and wake up refreshed”, according to a company statement. It uses dry polymer electrodes to track a user’s brain activity during sleep, generating data for analysis on an internal CPU.
“Rythm started with one single idea — to monitor and influence brain activity based on auditory stimulation to enhance sleep quality,” said Hugo Mercier, CEO & Co-founder at Rythm. “Now after our successful beta program, we have validated the science and learned from more than 500 users on what the headband can do. The launch of Dreem is a breakthrough moment and we are thrilled to get our product to consumers so they can get on the path to better sleep.”
The lack of quality sleep is indeed a well-known issue among a growing part of the population: one third of the French population is having sleep disorders at least three times a week, according to an INVS study. Sleep monitoring is also a growing market: it was the topic du jour at the Consumer Electronics Show in January, and Apple just recently acquired sleep startup Beddit. This official launch positions Rythm as one of the leaders in the market.
“Rythm has developed technology that has the potential to change how people perceive their sleep, while also giving users new tools to improve their well-being,” said Rythm scientific advisory board member Emmanuel Mignot, the Director of the Stanford Center for Sleep Sciences and Medicine. “The vision of the company and the team behind Dreem is exceptional. To have a solution like Dreem that makes sophisticated medicine accessible to anyone represents a powerful step forward.”