Innovative wellbeing-tech company raises $625,000 in seed funding as the new CEO secured further investment to accelerate global business of pioneering stress-busting device Sensate, designed to alleviate anxiety, strengthen the immune system and aid sleep.
BioSelf Technology has appointed Anna Gudmundson as CEO, who this week secured additional funding for the health tech start-up from Los Angeles-based TenOneTen Ventures.
Prior to her appointment, Gudmundson was turnaround CEO at a fitness tracker business, and global head of services and product management at Vertu, the manufacturer and retailer of luxury handmade mobile phones.
As an advisor to the BioSelf Technology board for two years, Anna was appointed to the board of directors last year and steered the company through early funding rounds.
The BioSelf board is led by chairman Grant Allan PhD, the Google Glass co-creator. Anna is joined on the board by founder Stefan Chmelik, a medical practitioner of 30 years who pioneers clinically validated, wearable technology that helps solve the growing stress pandemic.
Chmelik launched the stress-busting vagus nerve-stimulating device, Sensate, in 2018 which sold out within weeks. Gudmundson recently took the new Sensate II wearable to market on Indiegogo, which smashed its target x5 within two weeks of launch. Anna also raised $100k from California based accelerator Expert Dojo earlier this year.
Anna commented on her appointment: “The wellbeing tech sector has surged over the past three months. With the hours spent on mental health and fitness apps up over 30% and the demand for products like Sensate growing exponentially, the world needs our products and services more than ever. This is the perfect time to accelerate BioSelf Technology’s growth and help alleviate global stress.”
Stefan Chmelik, BioSelf Technology founder, said: “Anna’s fundraising, tech CEO and product experience will help strengthen BioSelf Technology’s unique position within this market by opening up a wealth of opportunities to promote our wellbeing and mental health vision.”
Anna Gudmundson, CEO at Bioself Technology, said: “Having the support of the smart, experienced and sophisticated investor team at TenOneTen is a major milestone for us and instrumental to driving our focus on investing in and serving the US market. Their founder-friendly, hands-on tech entrepreneur expertise, along with how they are tapped into the LA tech ecosystem, USA and globally, will help us on our rapid growth journey”
Minnie Ingersoll, Partner at TenOneTen, added: “There is a growing need for mental health solutions and the BioSelf team has both the vision and capability to revolutionize this space. Stefan’s breakthrough work on the vagus nerve and Anna’s go-to-market experience will help Sensate become an essential tool in the treatment of stress and anxiety.”
About Anna
With a background in business and technology with international companies for over 15 years, Anna has a proven track record growing businesses, identifying opportunities and creating new revenue streams. During her career, Anna was parachuted in as CEO for a debt-ridden publicly listed fitness tracker business struggling in a saturated market, which she restructured, pivoted and sold in 2017.
Prior to that, Anna advised and worked directly with CEOs in technology businesses, advising and executing business and product strategy. At Vertu Anna was part of the team that managed critical contracts with Google and Microsoft, then helped prepare and sell the business to EQT for €200 million in 2012.
Market Opportunity for BioSelf Technology
Regular relaxation and meditation are well established as the most effective ways to self-manage stress; however few people have the time or headspace to learn or practice this important skill – particularly now we are a remote workforce.
The combined global mind-body wellness and non-invasive vagus nerve stimulation markets are at $600 billion and rising. (Global Wellness Institute, MarketWatch)
BioSelf Technology’s Sensate is a palm-sized, pebble-like device that sits on the chest and syncs with a free mobile app. It was created by Stefan Chmelik, himself a pioneering stress management clinician, to relieve the effects of PTSD for a range of sufferers, including war veterans.
What Sensate Customers Say
Sensate delivers health benefits more commonly associated with long-term meditation practices; specifically, improved heart rate variability, which is a key marker for health.
Users of the prototype 1,000 Sensate devices report:
● Feeling instantly relaxed
● Improved deep sleep (tracked with a sleep tracker)
● Lower resting heart rate and heart palpitations
● Improved blood pressure readings
● Better stress management
● Reduced anxiety and depression levels
● Feeling happier
● A profound calming effect
● Improved focus
(Taken from unsolicited user testimonials)
Anna added: “Sensate is an incredibly powerful product that focuses on improving sleep and improving underlying health conditions by activating the vagus nerve, using sound, rather than electric stimulation. It is also the first device to achieve this reliably, consistently and without training; using technology to recreate natural chest harmonics, without effort and in only a 10 minute daily session.
For more information or an interview with Anna Gudmundson, contact Nic Corns at nic.corns@makehoney.com
Anna Gudmundson, CEO, BioSelf Technology
Anna is a senior technology business leader in the international high-growth scene with 15+ years of experience including CEO, VP Product and interim executive roles, alongside ongoing advisory and contract work in health-tech, SaaS, data and consumer technology. Previously a turn-around CEO, Anna has also helped executives in the technology sector optimize and deliver product, brand and business strategies.
Anna has a keen interest in personal and human improvement, exponential growth technologies, product design, user behavior and psychology, and has recently focused on transformational technology that does good in the world and has strong commercial viability. This was a key reason behind her joining BioSelf Technology, where she focuses on solving mental health and stress crises, using innovative technology such as Sensate.
Born in Sweden, Anna moved to the UK in 2004; she is currently spending her time between the UK and the US and has previously lived in Spain and France, as well as spending long periods of time in Africa. She is fluent in four languages and developed a 3D programming language as a project in Madrid.