nyra health, a digital therapy platform for neurological patients has successfully closed a €4.5 million oversubscribed Seed round, co-led by MassMutual Ventures (MMV) and Wellington Partners. The funds will empower nyra health to scale its presence in the DACH region, enhance its AI technology, and establish a firm foundation for expanding into English-speaking markets.
“We are thrilled to have the backing of such a great team of investors who share our vision. Their commitment to our Seed Round is not just an investment in our company, but also a strong vote of confidence in our mission and potential. It’s fantastic to be able to scale our team and further enhance our AI-driven platform. By converging data from treatment and monitoring, we will be deeply integrated into the healthcare system and present throughout the whole patient journey for all neurological issues“, explains Moritz Schöllauf, Co-Founder and CEO of nyra health.
Previously known as myReha, this announcement coincides with the company’s rebrand to nyra health. nyra health’s flagship therapy app provides personalized therapy plans for each user, focusing on their individual needs in speech and cognition to maximise the potential of their rehabilitation process.
The CE-certified app contains over 35,000 interactive exercises to support patients after a neurological illness such as a stroke, dementia or long COVID-19. The app combines industry-leading machine learning models that analyse speech patterns and provide accurate, immediate feedback on pronunciation with adaptive cognitive games to create personal therapy training plans to improve an individual’s memory, speech and attention.
The technology constructs highly detailed speech profiles and automatically adapts each patient’s weekly plan based on individual performance and various speech biomarkers. These speech profiles also facilitate the mapping of long-term changes in dementia and other neurodegenerative diseases.
“We are witnessing a global increase in neurological disorders, ranging from stroke to dementia, largely driven by an aging population. In response to this escalating issue, nyra health has innovated a personalized therapy platform that not only addresses this pressing health concern but also offers significant scalability potential, enabling swift expansion into new markets,” states Ryan Collins, Managing Partner at MassMutual Ventures.
Dr. Johannes Fischer, Principal at Wellington Partners comments: “We were deeply impressed by nyra health’s ability to support patients at every stage of their journey. With over 45 hospital customers in Germany and Austria, nyra health has started to demonstrate significant benefits for both patients and clinics. The company’s capability to deliver Ai-guided digital support for patients throughout their often year-long recovery journey presents a unique and persuasive proposition in the healthcare sector.”
nyra health was founded in 2020 by Philipp Schöllauf, a medical doctor specialised in neurology, Mario Zusag, a machine learning researcher previously working at Google AI and IBM Research and Moritz Schöllauf, a lawyer with background in regulatory affairs.
The Family Office behind EVER Pharma is continuing its support in this Seed Round after investing already in the Pre-Seed Round in January 2021 and contributing its expertise for the company’s ongoing clinical trials. Philipp Schulte-Noelle, an experienced healthcare manager with deep knowledge of the sector is joining as a Business Angel.
