Rune Labs, a cloud-based data analytics platform for neuromodulation, secured $5 million in a seed funding round.
DigiTx Partners led the funding round with participation from existing investors, including TruVenturo, Moment Ventures, Loup Ventures, and Sabbatical Ventures.
Founded in 2018, Rune Labs has raised a total of $7.3 million to date.
The company plans to use the new funds to continue to invest in R&D and to develop additional products.
“Over the past two decades, we have witnessed tremendous improvements in neurostimulation devices for multiple neurologic conditions. What we are now seeing is the power of the information that could be derived from these devices. The technology Rune Labs is developing with neurologic and biometric data will optimize clinical care for many individuals with debilitating neurological and mental health conditions,” said David J. Kim, Managing Director, DigiTx Partners.
According to the company, the platform is used by med-tech and pharma companies to label, organize, analyze brain data, and develop and deliver precision therapies for Parkinson’s disease, Epilepsy, Depression, Obsessive-Compulsive Disorder, and other brain diseases.
The company is particularly focused on neuromodulation therapies such as Deep Brain Stimulation (DBS) and Transcranial Magnetic Stimulation (TMS).
“Rune Lab’s software platform lets us collect key metrics about the patient motor state using a dedicated Apple Watch and companion app platform, which then integrates and synchronizes with neural data all in a secure, HIPAA compatible cloud environment. With their software, we can view patient state and algorithm performance in near real-time and make decisions regarding adaptive DBS parameters, which we then update remotely,” said Ro’ee Gilron, Ph.D., a researcher at the UCSF Weill Institute of Neurosciences and a member of Rune Labs’ scientific advisory board.
Healthcare data analytics companies raised $1.3 billion in the first nine months of 2020, according to the latest Mercom Digital Health Funding report. Recently, Aetion – a provider of evidence-based analytics solutions for payers, biopharma, and medical device customers – announced a $19 million extension to its Series B funding round, with investment from Johnson & Johnson Innovation (JJDC), EDBI, and Greenspring Associates.