Spiegel Group invests in Berlin brain-training startup

Brain
Brain

NeuroNation, the Berlin-based startup offering brain-training exercises, has won itself a new investor: Publishing group Spiegel.net. The group teamed up with accelerator and financier XLHealth to invest a seven-figure amount in the startup in exchange for a 25 per cent shareholding.

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NeuroNation offers users personalised brain-training activities that can be purchased as a subscription. Users can increase their performance over time and compare their results with other users. According to NeuroNation, the training activities are based on “the latest findings in brain research” – the effect of 50 different training tasks was proven in a study by Berlin’s Free University.

NeuroNation claims it has attracted over 100,000 users since being founded in 2011. Profitable since June 2013, the team have mostly bootstrapped their startup aside from €50,000 starting capital they received from Seedmatch. The founders have big plans for the latest investment – one half will be used to improve the mobile product and the other half for marketing. Spiegel.net will also boost the startup’s marketing efforts by including its exercises and tests on Spiegel Online.

At the moment, NeuroNation is only available in Germany, Austria and Switzerland. Expansion is on the cards in 2014 – the startup plans on launching in France, Spain, Portugal and maybe Russia.

Image credit: PantherMedia, James Steidl

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