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
KC angels pile in with $2.74M funding raise for Matt Watson’s Stackify
A team of six local angel investors has pushed Kansas City-sourced Stackify past the $2 million mark in the company’s latest funding raise, Matt Watson announced Wednesday. “We are using the funds to continue our aggressive growth plans,” Watson, founder and CEO, said of the raise. Uploaded onto the startup scene in 2012, Stackify has…
Smart strategy generates wins for Evergy Ventures — KC’s quiet investment powerhouse
Editor’s note: The following content is sponsored by Evergy Ventures but independently produced by Startland News. As two long-standing utility companies merge, they’re creating a new kind of energy for GXP Investments — now known as Evergy Ventures — said Dennis Odell, announcing a rebrand of the investment firm. “GXP Investments — GXP — it…
Predicting sick days: Sickweather showers HR with data on illness mapping, trends
It’s a partnership more than a year in the making, said Graham Dodge, announcing Sickweather’s deal to help a leading employee benefits company predict workers’ sick days. The Kansas City-based startup is piloting a program among the more than 10,000 employees at Unum Group to give managers more data and insights to plan for absenteeism.…