VILNIUS, LITHUANIA / ACCESSWIRE / April 28, 2022 / Kilo Health, the second fastest-growing technology company in Europe, has recently signed an agreement with Pulsetto, a startup that creates a non-invasive vagus nerve stimulator that reduces stress, calms anxiety, and improves sleep quality.
Over several rounds, Kilo Health will invest 500,000 Eur into further developing the hardware device and creating a mobile application. This is not the first time Kilo Health backs Pulsetto - the startup has already received a 50,000 Eur investment back in 2021.
"With the first 50,000 Eur investment from Kilo Health, we created a prototype in just 3 months. The most recent injection will allow us to move even faster. We will buy more equipment and start mass-producing this device. At the same time, we will be developing our mobile app and begin to prepare to launch later this year," said Vitalijus Majorovas, the CEO and founder at Pulsetto.
Majorovas expects to pre-launch the product in May.
"Pulsetto was created by technology and mental health experts. It was clear to us we would be missing out if we didn't support their vision. I can't wait to see what's next for Vitalijus and his team," said Tadas Burgaila, CEO and co-founder at Kilo Health.
Pulsetto's hardware device stimulates the vagus nerve in the parasympathetic nervous system. This nerve controls the heart, lungs, and digestive system. Stimulating it slows down the heart rate and encourages relaxation.
"We are creating a device that uses electromagnetic waves to easily and safely activate the vagus nerve. The user will feel better in just a couple of minutes. Vagus nerve stimulation has been used in medicine since 1988, but previously, it was an invasive procedure. Our solution allows us to provide the benefits without the need to go into the operating room," said Majorovas.
This is not the first time Kilo Health has provided funding for digital health and wellness projects in the past few years. In 2021, Kilo Health invested over 2 million euros into healthtech startups Medical Score, Tyler Health, and Revolab.
Kilo Health is one of the leading digital health and wellness companies, with 4+ million customers worldwide. As of 2022, it's the second fastest-growing company in Europe on the FT 1,000 ranking, the second-fastest growing company in Central Europe on the Deloitte Technology Fast 50 list, and the most popular employer of 2021 on MeetFrank.
Kilo Health has over 15 innovative digital health products, 550+ colleagues, and offices across 5 European cities. The company is also a member of the DTx Alliance, Matter Community, and HealthXL.
Monika Jura Jakuciuniene
SOURCE: Kilo Grupe, UAB