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Adrian Nötzel, Jörg Land, Matthias Lanz © Sonormed GmbH

Sonormed GmbH Receives Cash Injection For Tinnitracks

A consortium led by High-Tech Gründerfonds and Innovationsstarter Fund invest in the novel ehealth product for curing Tinnitus

In a series-A financing round, the High-Tech Gründerfonds (HTGF), Innovationsstarter Fonds Hamburg, Quotas Beteiligungs GmbH, and Bigpoint founder Heiko Hubertz are investing in the medical start up Sonormed GmbH from Hamburg, Germany.

Confirmed By Clinical Trials

With Tinnitracks, Sonormed developed a multi-awarded audiology technology offering a tinnitus treatment based on clinical trials. By using the so-called Tailor-Made-Notched-Music-Training (TMNMT), Tinnitracks transforms everyday music into a targeted neuroacoustic treatment for tinnitus patients, including a new mobile solution.

Tinnitus can be treated by listening to music that has been specially filtered to remove certain frequencies that cause the patient’s tinnitus. This creates an audible notch in the sound spectrum of the music. In other words, it slightly alters the sound. The patient’s sense of hearing, however, is able to quickly adapt to this unfamiliar input. This systematically changed input can cause the brain to re-shift its imbalance between excitatory and inhibitory nerve signals in the auditory centre back towards a healthy balance between the two.

Growth Potential

With Tinnitracks, the team developed a pioneering technology in the digital audiology. In no time, academic research results have been translated into a usable and accessible therapy for Tinnitus patient. With this technological know-how, Sonormed has the potential to significantly shape the growing e-health sector”, says Dr. Martin Pfister, Senior Investment Manager of the High-Tech Start-Up Fun.

Funds For Further Developments

“With the consortium led by HTGF and the Innovation Starter Fund,we have reliable and experienced partners at our side. It is an ideal combination of a strong network and experienced entrepreneurs that support us and set our course for further growth”, says Jörg country, co-founder and CEO of Sonormed.

The funds will be used for product development and further expansion. To promote its integrated solution, the company works together with ENT physicians, hearing aids experts, and the renowned audio specialist Sennheiser. Sonormed has already received with several innovation and entrepreneur awards for Tinnitracks. Named winner at the SXSW Accelerator in the “Digital Health and Life Sciences Technologies” category, Tinnitracks has also been ranked first in the EU-wide competition of the European Institute of Innovation and Technology in Eindhoven (EIT) and has been honoured as “Innovative ICT” by the Federal Ministry of Economics and Technology.

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On the High-Tech Gruenderfonds

High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).

On the Innovation Starter Fund

The Innovationsstarters Fonds (Innovation Starter Fund) provides risk capital for young Hamburg companies in order to strengthen their research, development and innovation activities. Support is realised through equity interest up to 0.5million euro per financing round (total maximum: 1 million euro) or shareholder loans. Companies must bring in ten per cent own contributions. The Innovation Starter Fund funds young small capital companies with less than 50 employees that are located in Hamburg and have a technologically innovative business plan. The support has no specific focus on sectors.

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