Nyra Health provides personalized therapy to users with neurological conditions via an app. Check out the 11-slide deck it used to secure $4.9 million.
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- Mental health startup Nyra Health has raised $4.9 million in funding.
- The startup offers personalized therapy for neurological conditions.
- Check out the 11-slide pitch deck it used to bag the fresh funds.
A startup that’s bringing digital therapy to patients with neurological conditions has secured $4.9 million from MassMutual Ventures and Wellington Partners.
The Vienna-based startup, which recently rebranded from MyReha to Nyra, offers personalized therapy to users through its app. It contains more than 35,000 speech and cognitive exercises for patients who are recovering from conditions such as a stroke or long COVID, as well as dementia patients.
The app assesses users’ pronunciation during these interactive cognitive games, and collects biomarkers that examine their fluency, grammar, and richness of their vocabulary, said cofounder and CEO Moritz Schöllauf.
It then maps patients’ neurological profiles using this data, to monitor any long-term changes in their conditions. The data is then gathered and aggregated for doctors, therapists, and researchers.
Nyra aims to offer patients a consistent source of treatment that they may lack in a non-clinical setting. Often, many don’t keep up with therapy after being discharged from a hospital — so the platform wants to act as a “telerehabilitation platform that enables patients to continue their individual therapy for as long as they need,” Schöllauf told Insider.
The startup makes its money by offering clinics and rehabilitation hospitals their app and insights platform. Nyra’s telerehabilitation services are also reimbursable through clinics.
The fresh funding comes amid ongoing, heightened interest in health startups following the pandemic. While funding into European health-tech startups has overall slowed since 2022, in line with the wider tech market, seed-stage health startups have cinched $550 million this year — more than double the $238 million bagged by their fintech counterparts, per Dealroom data.
The seed round was led by MassMutual Ventures, which has backed the likes of HelloBetter and Daye, and Wellington Partners, an investment firm backing life science companies.
With the cash injection, the startup aims to expand its team and work on developing an AI-based therapy platform. It will also continue to grow in the DACH region, and lay the groundwork for tapping into some English-speaking markets.
Check out the 11-slide pitch deck used to raise the funds.