Dreem today announced it has raised $35 million to further develop its headband that improves sleep by monitoring brainwaves.
In addition to neurtechnology, the Dreem headband uses auditory stimulation to help people fall asleep faster and sleep deeper. The latest round of funding was co-led by U.S. consumer product giant Johnson & Johnson and French state bank Bpifrance.
“Understanding and improving sleep is one of the most important technological, scientific, and societal undertakings of our time,” said Dreem CEO Hugo Mercier, in a statement. “If everyone in the world, of which 30 percent don’t sleep effectively today, were able to get better, more quality rest every night — we’d unleash opportunity like none other.”
Dreem will use the money to continue development of its headband, as well as investing in sleep research. The French company, which now has co-headquarters in Paris and San Francisco, will also use the money to continue expanding its team of 70 employees.
The company has now raised a total of almost $60 million since it was founded in 2013. Previous investors included French entrepreneur Xavier Niel and French insurance company MAIF.