Why we write about this topic:
Much is expected from the DeepTechXL fund, especially in the Eindhoven region, which is home to many hardware startups that take a relatively long time to bring their product to market. This first major investment is a breakthrough for that reason.
Dutch neurofeedback startup Alphabeats has closed a €1.5 million seed investment round, led by DeepTechXL and backed by LUMO Labs. It is the first investment round of the deeptech investment fund established earlier this year.
This investment will allow Alphabeats to further develop its patented technology. The first goal is to improve the performance of top athletes thanks to the Eindhoven startup’s brainwave (EEG)-based training.
The company’s innovative technology uses music to put athletes into a “flow” state: a mental state of high performance characterized by alpha brainwaves.
Studies show that cumulative use of the Alphabeats training system increases alpha brainwave activity in users and provides lasting improvements in their mental performance, the start-up states. This training system is the first of its kind: it is wearable, customizable, and easy to use, making it ideal for elite athletes.
What is DeepTechXL?
DeepTechXL’s funds help mission-driven entrepreneurs using key enabling technologies (“Deep-Tech”). Deep tech is a category of advanced technologies being developed in research facilities to address significant societal challenges as defined by the UN Sustainable Development Goals in the areas of healthcare, energy transition, security, and food. ‘Deep’ technology innovation enables long-term sustainable economic success and creates high-value jobs in advanced high-tech industries.
DeepTechXL Fund I has a current size of €75M and is a multi-stage Venture Capital fund (seed to series C). DeepTechXL has received investments from ASML, PME pension fund, Invest-NL, Philips, BOM, TNO, and several family offices. Due to the complexity of deep-tech investments, access to funding alone is not enough. Therefore, DeepTechXL wants to be more than just an investment vehicle. Together with investing industry partners, the fund offers deep-tech startups and scale-ups access to knowledge, network, technology, licensing, and business development support. DeepTechXL is a hands-on investor.
DeepTechXL was founded in 2022 by partners who combine long-term experience with a proven track record of deep-tech venture building, venture capital, and transactions. DeepTechXL operates from the High Tech Campus Eindhoven, in the middle of the high-tech ecosystem Brainport. This ecosystem is used to make investments throughout the Netherlands.
“Neuroscience is the future for top performance in sports. We are proud to be at the forefront of this movement,” said Jur Vellema, co-founder of Alphabeats. The potential of Alphabeats technology extends beyond sports to all functions where high performance and peak results are required. This training system can provide a safe and healthy alternative to other performance-enhancing tools and methodologies.
“As a company, we have big ambitions, and for that, you need good partners like DeeptechXL and LUMO Labs. We share the same vision and look forward to joining forces to make a global impact in the field of mental performance,” said Han Dirkx, co-founder and CEO of Alphabeats.
More than just money
“Partnering with Alphabeats is more than providing capital. We will leverage the deep knowledge, experience, network, and resources of the companies and institutions affiliated with DeeptechXL to take Alphabeats to the next phase,” said Ronald Meersschaert, Managing Partner of DeeptechXL.
LUMO Lab’s Founding Partner Andy Lürling expects this investment will allow Alphabeats to take the next steps to validate the product. “Thanks to the highly demanding group of sports professionals, a broader impact for a larger group can emerge at a later stage. It’s great to see Alphabeats grow to the next stage.”