Neurofeedback has been scientifically proven to be a powerful tool to improve the overall health of your brain including improving memory, sleep quality and reducing stress and anxiety. Neuphony brings you the benefits of neurofeedback at the comfort of your home with the help of EEG headband and a mobile application. The headband measures the electrical activity of your brain and the mobile app based on the sensor data recommends you meditation techniques to achieve your desired state. Over sessions it trains your brain on how to achieve the desired state itself.
We have paying Customers fr om europe, united states, australia, india and korea. We have 6 B2B deals for research, developing. Home therapy solutions using our SDK and Device and also for the development of next device which includes veterans, athletes and research market.
Scalability Currently we can create 50 devices per month, the limitation being man power on the assembly line. With additional €4200(approx.) we can increase the output to around 1500 devices a month. After this point, the availability of electronics would become a bottleneck. We can manage these bottlenecks with quarterly prediction and inventory management, as the maximum lead time among all the components is just 7 weeks. But we can only scale to a lim it with this method, we are offering freemium model with our mobile application to generate a constant stream of income and the free version is a marketing tool for us to reach out to our potential customers.
But we can scale at a much better rate once our SDK is ready. We are working on a web based SDK(€99/month), this gives the customers access to live data from the headset. This opens up our device to the whole BCI market, as we enable other developers to enter any application market without the hassle of creating a device themselves.
We are now in beta testing phase, with the feedback fr om our initial customers we would be making small tweaks to commercial release. The major complains, if any, would be considered in the next iteration. This current device is created keeping the needs of home psychotherapy and research industry in mind. These industries are looking for a device which is not complicated for the users to setup and has signal quality good enough for them to work with and we address both of these needs and with the SDK subscription model. With the learnings form this device, and the backing with the scientific research, we start working on the smaller version of this device with just 4 sensors to reach out to the mass market. With the second device we plan to enter the B2B market, wh ere we sell them to fitness studios and meditation and wellness centers. All this time, moving towards the vision for Pankhtech, creating a device for bed ridden patients to help them communicate.
Our Total addresable market is the health and wellness market which is estimated at 1299.84 B$ with a CAGR of 6%. Our Service addresable market is the digital health industry which is valued at 213.75 B$ and a CAGR of 22%
Problem or Opportunity
Our mental health encompasses our psychological, emotional and social well-being. This means it impacts how we feel, think and behave each day. Our mental health also contributes to our decision-making process, how we cope with stress and how we relate to others in our lives and in our professional life. Mental health problems affect around one in four people (world-wide) in any given year. Once someone is diagnosed with a mental disorder then either they are prescribed drugs or offered therapy, by then it is too late. It is a reactive approach whereas we need to be more proactive.
Solution (product or service)
Monday, 6 January 2020 17:27
We are constantly comparing ourselves or competing against 8 Billion people in every facet of our lives. This is the reason we are becoming more and more stressed and nothing we do seems to be enough. Jordan peterson mentioned “Who cares if you are the PM of canada i somebody is the president of United states”. This constant stress and self-doubt is the reason we seeing rise in burn-outs, insomnia and other preventable anxiety related disorders.
Neuphony believes in unlimited potential of human mind and strives toward unlocking it to bring out the best in them. Neurofeedback has been scientifically proven to be a powerful tool to improve the overall health of your brain including improving memory, sleep quality and reducing stress and anxiety. Neuphony brings you the benefits of neurofeedback at the comfort of your home with the help of EEG headband and a mobile application. The headband measures the electrical activity of your brain and the mobile app based on the sensor data recommends you meditation techniques to achieve your desired state. Over sessions it trains your brain on how to achieve the desired state itself.
Our main competitors include - muse by Interaxon, Mendi, Emotiv and Omnipemf.
Advantages or differentiators
Why we are better - • we have 8 uniquely placed EEG Sensor covering 3 lobes and because of that our one device can help in improving memory and auditory processing (temporal lobe), decision making and emotional/social responses (pre-frontal cortex) and lastly our parietal lobe which is responsible for spatial orientation. Default mode network and balancing between right and left brain. Whereas our competitors devices only focus on prefrontal cortex. • Our Software has ML Algorithm for Artifact (noise) rejection and ML model to recommend custom meditation Techniques to users. Our mobile application is a platform to bring wellness, mental health and neuroscience together which works on self awareness and behaviour modelling by inculcating the habit of meditation for brain training. And most importantly our Core Team consists of expertise in the field of both science and technology. We have engineers, tech consultant and 3 Neuroscience mentors with a combined experience of 60+ years in brain cognition, behaviour and meditation.
Our Hardware is priced at 599 Euro or 35000 Rs. Our SDK would be priced at 40 Euro per license per month. Our Mobile Application can also be used without the hardware as a meditation and mood tracking application based on Freemium subscription model priced at 4.49 euro per month.
The product is marketed to working professionals as a tool which helps - 1. Improve efficiency 2. deal with daily distractions
The same is done by collaborating with – 1. Wellness or therapy centers. 2. corporates