LUMO Labs announces significant seed investment in healthtech venture AlphaBeats
Press release December 17, 2020
EINDHOVEN, The Netherlands – LUMO Labs, the early stage investment fund, announces an investment in the healthtech startup AlphaBeats. The startup has exclusive rights to a technology developed by Philips that combines biofeedback technology with music to drastically reduce the effects of stress. With this, the company fights the other epidemic that is less visible than Covid-19, namely stress.
AlphaBeats will join the LUMO Labs two-year venture builder program and use this new investment round for market validation with initial market traction in 18-24 months.
“In addition to seeking a financial return for our investors, we invest in startups that have substantial social impact. It would be great if we can realize this,” said LUMO Labs Founding Partner Andy Lürling. “As stress is considered THE health epidemic of the 21st century, we contribute by investing in AlphaBeats. It fits perfectly in our health and well-being focus.”
AlphaBeats has the sole, exclusive agreement with Philips to use the electronics giant’s audio neurofeedback algorithm. That algorithm, combined with artificial intelligence, uses biofeedback signals to enhance the user’s favorite music. As you relax, music fidelity increases.
“We all know music has a powerful effect on the mind. Many people already use it to relax and unwind, to cope with the turbo-speed of life. With AlphaBeats, we multiply that effect,” said AlphaBeats CEO Han Dirkx. “Using AI, our solution is three times more effective than listening to your favorite music alone, and after four weeks, a person’s ability to relax dramatically improves.”
A strategic collaboration with several German parties enables the Dutch AlphaBeats team, among other things, to measure heart rate variability on a cell phone in addition to breathing.
“AlphaBeats uses this to analyze your real-time brain activity,” explains CMO, co-founder and surgeon Dr. Jur Vellema. “The patented algorithm then adjusts your favorite music to bring your brain into a relaxed state: alpha mode. This adjustment is done very subtly to prevent users from being annoyed by the changes in their favorite music. And best of all, you don’t necessarily have to invest in a nice wearable one. You can just use your cell phone and headphones. This means we don’t have to develop any hardware ourselves.”
AlphaBeats was founded in 2019 as part of HighTechXL’s deep-tech venture builder program and currently is located in Building 27 at High Tech Campus Eindhoven. LUMO Labs is in Building 6a, about 200 meters away, “so they won’t have to hire a moving van,” said Lürling.
“Our collaboration with LUMO Labs on AlphaBeats is a great example of connecting the innovation chain for startups in the Brainport region,” said HighTechXL CEO John Bell. “HighTechXL builds deep-tech ventures that solve societal challenges, whereas LUMO Labs takes over the baton from us and develops AlphaBeats further on its growth curve. The strengths and networks of LUMO Labs and HighTechXL complement each other, therefore we expect to see more collaboration with LUMO Labs in the future.”