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The long journey was worth it: after pitching to us, the founder of NYX Technologies from Israel was able to conclude the largest club deal in our network.
Six private investors from Schleswig-Holstein from the Baltic Business Angels Schleswig-Holstein e.V. group have jointly invested in the Haifa/Israel-based MedTech start-up NYX Technologies Ltd. The investment is syndicated via a capital pool by way of a joint GbR under the leadership of Flensburg businessman Sven Kleinschmidt.
This investment marks the first time in the history of the angel network, which has been registered since March 2018, that six of its more than 50 members have signed a SAFE agreement, which is widely used in the US start-up ecosystem and is comparable to a convertible loan as a financial instrument, which is still more common in Europe for the time being. It offers both founders and investors a great deal of flexibility with regard to the valuation of the company, which is only possible at a later date.
NYX Technologies offers a non-medication-based solution to the countless patients worldwide suffering from chronic insomnia and its secondary diseases and also addresses Parkinson’s and cancer patients.
The system consists of a wearable that operates AI-controlled neurostimulation based on EEG sensors. Patients activate their device via an app before going to sleep. The AI analyses the brain activity, stimulates it and continuously adjusts the stimulation during sleep based on the data received locally.
If desired by the patient, healthcare providers can observe the progress of treatment via secure remote monitoring and intervene if necessary. NYX’s personalised, non-invasive approach is currently in the final phase of clinical trials in the USA and will also be available in Germany.
Investment syndicates are very popular with Baltic business angels. By investing together, sufficiently large investment volumes can be realised in order to be able to handle the increasingly high investment amounts demanded by the most interesting start-ups as a result of competition from America and the Far East. For example, five other business angels from the BBASH circle invested jointly in the Itzehoe-based Fraunhofer spin-off OQmented GmbH back in 2020. This pool of investors has since invested over EUR 4 million in OQmented alone, which is now also based in Silicon Valley.
Our association chairman Julian von Hassell is particularly pleased about the NYX investment by his colleagues, who are investing in a start-up from Israel right now.