Remrise Secures $8.2M Seed Funding to Offer Customized Herbal Sleep Solutions

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 19, 2019, local time, sleep solution provider Remrise announced the completion of an $8.2 million seed funding round, led by Founders Fund.

Remrise is a female-founded startup dedicated to replacing traditional sleep aids with personalized sleep supplements rooted in Eastern medicine.

Remrise’s product line is tailored to address the diverse sleep issues of consumers. The service utilizes a survey assessing stress levels, lifestyle, and personality traits to categorize users and match them with corresponding treatment plans, with each category offering four distinct formulations. This approach supports ongoing monitoring and adjustments during use to prevent patients from developing tolerance to the various ingredients.

Remrise has also launched a companion app that leverages sleep trackers to monitor users’ bedtimes, wake times, and REM cycles. Based on this data, the app tracks sleep patterns and provides actionable recommendations, such as modifying behavioral habits or offering personalized meditation sessions.

Veronica Lee, Founder and CEO of Remrise, stated, “We hope patients can improve their sleep with our traditional herbal sleep aid, but a transition period is still needed to completely wean off prescription medications.”

Remrise is targeting users who need sleep aids, as well as individuals who have discontinued their use due to adverse reactions.

The key to achieving this goal will be to educate consumers on the efficacy of herbal alternatives in addressing sleep issues, a challenge that investors believe can be overcome.

Veronica Lee stated, “In terms of sleep, Western markets have long embraced Eastern remedies, despite the many differences between the two. It is precisely this dynamic that Remrise is tapping into a vast market.”

The company has launched a pilot program with 90 users and plans to expand it to a larger study of approximately 400 participants by leveraging sleep trackers (such as Fitbits or Apple Watches) and sleep clinics. Meanwhile, Remrise’s sleep solution has been rolled out to the general public.

Sleep is a major concern, and the sleep market represents a significant growth opportunity. In 2017, the global market for sleep aids reached $69.5 billion; by 2023, this figure is projected to exceed $101 billion.

Founded in 2005, Founders Fund is a San Francisco-based venture capital firm that invests in companies building revolutionary technologies at every stage. The firm and its partners have been early investors in prominent technology companies, including PayPal, Facebook, SpaceX, and Palantir Technologies. To date, Founders Fund has raised five funds, with total assets under management exceeding $2 billion. The firm has historically invested across multiple sectors, including aerospace, artificial intelligence, advanced computing, energy, healthcare, and consumer internet.

(Compiled by Xiong Hui)