Liège-based startup Phasya develops innovative software for measuring and predicting physiological and cognitive states like drowsiness and stress, that influence human performance.
Phasya is a University of Liege spin-off, founded in December 2014 following several years of multidisciplinary research and development. The startup principally develops drowsiness detection software by tracking eye movements, and has just raised €967k in equity from several private and institutional investors. The funding came from funds SCALE I (Be Angels), W.IN.G (SRIW), Meusinvest, and Gesval (a University of Liege development company). The investors were convinced by the international potential of Phasya across a range of markets such as automotive, rail, control rooms, and medical diagnosis.
Phasya’s products are dedicated to improving safety in transportation and industry, and can be used in other applications such as medical diagnosis, gaming, or training. These software products are based on the analysis of data from the human body (e.g. heart rate, eye movements, etc.) provided by various sensors such as cameras or smartwatches. The first product of Phasya is a drowsiness measurement software based on the analysis of eye images. This product has led to several contracts, in particular with the automotive industry. This is because the software enables detection of early signs of driver drowsiness, and so reduces the risk of falling asleep at the wheel.
The new funding will enable Phasya to expand its business and develop its product range.
Jerome Wertz, CEO and co-founder, said: “We aim to revolutionize the way people interact with equipment and contents by offering innovative solutions that enable a better understanding of factors that influence human performance and errors. Our priority is the ‘safetytech’ market in which we target applications for improving safety in transportation and industry. Our unique position, our team, and our first business deals showing the market interest for our solutions were key points for convincing investors.”
Clementine Francois, Chief Scientific Officer and co-founder, added: “We now have everything in place, and in particular, a skilled and motivated team, to show the technological potential of Phasya on the market. Our unique multidisciplinary expertise and our scientific partnerships are our main assets for offering reliable solutions that are relevant to new market needs. The funding will enable us to boost our technical developments, extend our product range, and increase our value proposition.”