Neurovalens says it has a working prototype and is offering IndieGoGo subscribers the chance to donate money. For $299 the donor will receive the gift of unit with an estimated shipping date of March 2020. Alternatively, backers can pay $499 for early access with an estimated shipping date for units of February 2020.
The Modius Sleep headset is worn for 30 minutes before bed and does not have to be worn in bed. It works by sending an electrical signal into the vestibular nerve that influences the areas of the hypothalamus and brain stem that control the circadian rhythm and sleep patterns.
The Modius Sleep headset follows on from the Modius Slim launched in 2017 and which raised $2.5 million for Neurovalens as a result. The company has sold 10,000 Modius Slim units.
The technology of the two devices is similar in that both Modius Sleep and Slim headsets stimulate the vestibular nerve to influence the hypothalamus. The difference is in that the stimulation signals have different waveforms.
However, such crowdfunding is not a sales contract. Monies are usually defined as donations and the products to be shipped as perquisites or benefits. However, the European Union treats such supply agreements as a sale and liable to value-added tax.
Neurovalens states on the IndieGoGo page that the company's ability to begin production may be affected by product development or financial challenges. This indicates that if too little money is raised Neurovalens will not produce or supply units. No refund policy could be found on the IndieGoGo page.
"After gathering feedback from thousands of Slim users, we found that improved sleep was a welcomed bonus and this became our motivation for making changes to our technology to create Modius Sleep," said Jason McKeown, CEO and founder of Neurovalens, in a statement.
Neurovalens counts the University of Ulster, Queens University Belfast and University of California, San Diego, amongst its research associates.
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