Brain-sensing headband maker Interaxon raises $9.5m Series C

• Interaxon co-founder Ariel Garten also participated in the round
• The company is the maker of Muse, a brain-sensing headband that uses real-time biofeedback to support meditation during the day and sleep at night

Interaxon, a Toronto-based consumer neurotechnology company, has secured $9.5 million in Series C financing. The investors included BDC Capital, Alabaster (family office of Sunny Vu, founder of Misfit), and Export Development Canada, Phyto Partners, Iter Investments, Intretech (HK) Co, and The Clavis Foundation.

Co-founder Ariel Garten also participated in the round.

Interaxon is the maker of Muse, a brain-sensing headband that uses real-time biofeedback to support meditation during the day and sleep at night. There are more than 500,000 “Musers” globally.

With this funding, the company aims to enrich its leading brain health platform through launching an integrated wellness membership model and further research and validation of an industry-first feature tracking longitudinal changes in the brain. Interaxon will also support expanding offerings for third-party developers, researchers, clinicians and other strategic partnerships.

“At Muse, we’re passionate about supporting the neuroscience research community,” said Ariel Garten, co-founder of Interaxon, in a statement. “We are excited for the value this funding will unlock, including the development and validation of an industry first, user-friendly EEG measurement showing changes in brain age that can provide value in a variety of research and clinical settings.”