DreamJay, a San Francisco- and Warsaw, Poland-based sleep app developer, announced today that it has raised $2.3 million in Series A funding. Investors include the Joint Polish Investment Fund (JPIF), Poland’s largest life science venture capital fund, and Nordic Makers, a Swedish fund.
The newly acquired capital will be used to continue development of Nightly, DreamJay’s unreleased app, and finance the additional clinical research required to submit the app for premarket FDA review and European CE mark certification.
“We have now raised enough capital to begin the process of clinical validation of our product,” Łukasz Młodyszewski, CEO of DreamJay, said in a statement. “The tests, which we have conducted so far, including those with the SWPS University and the Sleep Disorders Center at the Institute of Psychiatry and Neurology, demonstrate that we are moving in the right direction. They also indicate further areas for development that we can now pursue.”
Nightly has been in research and development for three years, and is scheduled to launch this fall. The app offers a variety of functions designed to help users fall asleep and wake up well rested. These include sleep schedule tracking and planning, calming audio and video stimuli, and the ability to detect and react to unrestful moments throughout the night. Studies conducted on the app so far have reported no adverse effects, according to the statement.
Sleep wellness-focused software is prolific in the mobile app space — see MobiHealthNews’ recent roundup of Apple’s 11 picks for sleep health apps. Last year, UK digital health startup Big Health also raised $12 million to continue work on its sleep-focused employee wellness app, Sleepio. On the other hand, sleep device developer and Silicon Valley darling Hello shut its doors earlier this year after raising $2.4 million and a subsequent $40 million on the promise of improved passive sleep monitoring.