MindMetrix obtains convertible loan ahead of market launch

ETH-spinoff MindMetrix uses a data-driven neurofeedback training software to quantify the performance of the mind and mental well-being. Its first product MyFlow is currently being tested in a large pilot project as the company prepares for the official launch in Q4 2023.

Incorporated in October 2022 following years of research by co-founders Marc Bächinger and Sarah Meissner, MindMetrix is developing myFlow, an easy-to-use mental training application developed at the Neural Control of Movement (NCM) Lab at ETH Zurich to provide reliable neurofeedback to enable athletes and coaches to track their mental training progress and identify effective strategies. The myFlow method offers an alternative and more reliable neurofeedback modality in combination with a wearable, easy-to-use VR headset with eye-tracking capabilities. As such, myFlow is scalable and easily available to large groups of users.

Lara Ming explained the company’s motivations for targeting sports & well-being, “Our research shows that the sports sector has one of the greatest demands and the fastest adoption of our new method. This will enable us to have faster development cycles and helps with a rapid market launch. Moreover, existing sports applications have shown that fitness tools used by professional athletes are also often adopted by the general public, thus failing to address the core needs of athletes.”

The startup is currently testing the Alpha version of its solution, a large pilot project with the Swiss Federal Institute of Sports in Magglingen to develop sports-specific mental training exercises to refine the product for the sports market.

With the product launch scheduled for the end of 2023, MindMetrix has secured funds in the form of a convertible loan from Serpentine Ventures to accelerate product development, as well as support marketing and sales activities.