MoodSpark buys defunct startup’s IP, minds focused on disrupting elderly veterans’ depression
May 11, 2022 | Startland News Staff
A slew of new patents and tools are now in the hands of a KCK-rooted startup that aims to protect aging military veterans that suffer from loneliness, anxiety and depression.
MoodSpark has acquired assets previously held by California-based Dthera Sciences — an early leader of the digital therapeutics space, known for its innovative quality of life therapies, the company announced Wednesday.
MoodSpark’s digital companion uses artificial intelligence to detect such behaviors, alert family, friends, or caregivers, provide digital check ins and assistance in times of social isolation, provide behavioral health intervention, and share engagement data, activity, and response information with caregivers.
As part of the acquisition, MoodSpark has received a sizable IP portfolio that contains patents, a technology platform, an FDA breakthrough device designation, and clinical pilot research related to Dthera’s system for treating anxiety, agitation, and depression in elderly patients experiencing neurodegenerative diseases that include Alzheimers and dementia.
The publicly traded company ended operations in late 2019 after raising about $5 million in five years.
“Dthera pioneered digital therapeutics targeting geriatric CNS disorders. This deal provides us a significant amount of market validation, broadens our IP portfolio, and gets us closer to our dual-use vision for the MoodSpark digital companion,” said Eliot Arnold, co-founder of MoodSpark and a 2021 Techstars Kansas City cohort member.
The Dethera assets will be used in combination with existing MoodSpark technology — known for its ability to detect sadness and promote (or spark) a shift in a person’s mood using memories, conversations, and video visits from loved ones.
“Some of the brightest minds in digital therapeutics were behind Dthera. We are very excited to bring the combined solution to market and establish ourselves as a market leader in social assistive technology.”
Want to learn more about MoodSpark? Click here to further explore its technology.
As the company rolls its new IP into its existing growth strategy, MoodSpark intends to use its technology to reach aging U.S. veterans, the company said.
“The United States has the largest generation of warfighters quickly approaching or at retirement age,” the company explained, noting the Department of Veterans Affairs lists anxiety, depression, loneliness, and social isolation as on the rise among senior veterans.
“The United States is increasingly turning to advanced technology to not only support independent living among older veterans, but to foster human connections and combat cognitive decline.”
2022 Startups to Watch
stats here
Related Posts on Startland News
Lyft and Kansas City may reunite thanks to new ride-sharing law
Missouri Gov. Eric Greitens on Monday signed legislation that could bring the ride-sharing company Lyft back to the Kansas City market. Passed with strong support from Missouri lawmakers, Gov. Greitens’ signature sets forth regulations for ride-sharing companies such as Uber and Lyft, including licensing fees, background checks and inspections. Lyft halted its Kansas City operations…
For its KC intro, WeWork plans event series to connect
In efforts to pump up the Kansas City community prior to its launch, WeWork announced KC Connected, an event series at its new Corragain Station coworking space. The first event is May 10 and aims to get local entrepreneurs prepared for the coworking giant’s global grant competition, the Creator Awards. “Our goal is to help…
RideKC builds Uber-like app for Kansas Citians with disabilities
For Kansas City residents with disabilities, it’s difficult to rely on bus schedules to get from place to place — even with paratransit options. Starting May 1, Kansas City residents with disabilities will have access to an on-demand option. The Kansas City Area Transportation Authority recently developed the ride-hailing app RideKC Freedom On-Demand, which will start…
Mobility Designed raises nearly $900K from iiM, local investors
The seed round for Kansas City-based Mobility Designed is approaching seven figures following the support of a local investment firm. Overland Park-based Innovation in Motion (iiM) recently joined the medical device startup’s round, which is approaching $900,000 and comprised mostly of individual investors. Led by CEO Liliana Younger, Mobility Designed created the M+D Crutch, a…