SpeechVive Raises $2.275M in Seed Funding
Summary
SpeechVive, an Indianapolis, Indiana-based startup developing medical devices to improve speech clarity of Parkinson’s patients, raised $2.275m in seed funding.The company was awarded a two-year $1.3m grant from the National Institutes of Health (NIH) and received an additional $975k investment from BioCrossroads’ Indiana Seed Fund II, The Purdue Foundry and a private investor.The funds will be used to design, build and test a telehealth platform that enables speech pathologists to program the SpeechVive device from a remote location anywhere in the world.The telehealth platform will allow SpeechVive to reach elderly or physically impaired patients who cannot travel to speech pathologists.The SpeechVive device, which fits like a hearing aid in the patient’s ear, detects when a patient is speaking and elicits louder and clearer speech through an involuntary reflex known as the Lombard Effect.