Private investment fund gives its backing to insomnia treatment innovation
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Chasnay Capital Investments has invested in Business Masters award winning sleep therapy solution, SleepCogni.
If follows a recent clinical trial by the Sheffield-based business, which showed its device could significantly reduce clinical insomnia in just seven days.
Chasnay’s investment has led to SleepCogni exceeding its investment target within the first week, which is currently live on Crowdcube and already has over 170 investors. The business has so far raised more than £480,000.
Chasnay Capital Investments is a new private investment fund established in 2020 by three former General Electric (GE) senior executives: Reinaldo Garcia – Former CEO of GE Grid Solutions and previously CEO of GE Healthcare International, Mark Hutchinson – former CEO for GE Europe and previously CEO GE China, and Roberto Mello – former CFO for GE Healthcare China and CFO of GE Latin America.
SleepCogni provides insomnia sufferers with an intuitive handheld sleeping aid which breaks cognitive cycles that prevent sleep using patented technology.
Chasnay will bring in a wealth of knowledge with its understanding of the healthcare market.
SleepCogni founder and CEO, Richard Mills, said: “This investment from Chasnay Capital Investments truly shows the size of the opportunity and our global ambition.
“The three former GE executives are proven titans in the healthcare industry and with their combined 80 years’ experience they will aid and advise on our international expansion and global rollout.”
Garcia said: “We invest in companies with ambition for global success where we can add value. As experienced global senior leaders with a proven track record we help companies improve strategy, team and build scale and help them transform into global businesses.
“We are very excited by our investment into SleepCogni; the patented technology, the size of the unmet need in the global sleep space, and the opportunity to become a global leader with a clinically validated solution all positioned perfectly for where we can add value in this next exciting stage of the business.
“We also really liked the team, led by chairman, Richard di Benedetto and CEO, Richard Mills backed with a solid scientific team led by CSO, Dr Maan van de Werken.”