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
Even gatekeepers struggle to bring KC’s women-led companies in from the cold
Female entrepreneurs are falling behind as a new generation of highly-scalable startups rises in the Kansas City, said Darcy Howe, reporting too few women-led firms even approaching KCRise Fund for investment. “My experience with those ‘Hey, I hear you have money’ calls that I do get [from female entrepreneurs] — many of them are not…
ScaleUP! KC reveals new 15-member cohort of growing businesses; touts alumni successes
Entrepreneurs joining the latest ScaleUP! Kansas City cohort represent ventures from such varied business sectors as photography, construction, design, counseling, film and engineering, said Jill Meyer. An ability to scale knows no single industry, emphasized Meyer, program director of ScaleUP! KC. “This program has shown us, time and time again, that not only can you…
Sweet & Sassy side hustle: Father-son duo behind Brownie’s bottles a venture to savor
Side hustles of any flavor can provide relief from the daily grind of a stressful startup, said Venture Legal’s Chris Brown of his “hobby” — delivering the homemade Sweet & Sassy Brownie’s Barbecue sauce. “Whether you like hiking or making barbecue sauce or riding horses or doing whatever … I think it’s important for people…
Prestio founder dissolves headaches of business closings, pivots with Liquify Group
Closing a brick-and-mortar space is difficult enough, said Glen Dakan. Why should entrepreneurs be forced to endure the pains of offloading expensive equipment too? Such a predicament prompted Dakan and his partners to create a remedy for the common pain point: Liquify Group, a newly launched service that helps businesses liquidate their assets through a simple,…