SOMAREALITY Raises €3 Million in Series A Funding
SOMAREALITY, a Vienna-based deep tech software company, has successfully raised €3 million in a Series A funding round. The company specializes in developing software that leverages eye-tracking technology to gain cognitive insights, such as cognitive load and attention. The funding round was led by Catalyst Romania and saw participation from other investors including MT-Lab, RDY Ventures, Moondust Ventures, and Gateway Ventures.
Company Overview
Founded in 2021 by Adrian Brodesser and Michel Varilek, SOMAREALITY is at the forefront of using eye-tracking data to assess real-time cognitive states. Their software integrates with existing eye-tracking hardware to analyze gaze patterns, pupil dilation, fixations, and saccadic movements. This data is then used to generate digital biomarkers of cognitive performance, offering a non-invasive alternative to traditional methods like EEG and fNIRS.
Use of Funds
The newly acquired funds will be directed towards scaling commercial operations and advancing research into cognitive health and human performance. Additionally, SOMAREALITY plans to develop a consumer-facing product, which aims to broaden the application of their technology beyond just enterprise usage.
Investor Insights
Alin Stanciu, Partner at Catalyst Romania, expressed confidence in the company's potential, stating: "At Catalyst Romania, we aim to partner with companies that don’t just improve what already exists, but rethink entire industries – and SOMAREALITY is doing exactly that."
Future Prospects
SOMAREALITY's eye-tracking platform is designed to be hardware-agnostic, making it versatile for use across various sectors such as healthcare, aviation, automotive, and research. By providing real-time cognitive metrics, it serves as a valuable tool for monitoring cognitive health and enhancing human performance.
With this latest funding round, SOMAREALITY is well-positioned to expand its market presence and further develop its innovative technology. Founder and Co-CEO Adrian Brodesser continues to lead the company in its mission to revolutionize the way cognitive data is collected and interpreted.