In a venture play aimed at the large and increasing population of aging baby boomers eager for new technologies to help them remain active, Dakim Inc. has raised $10.6 million in a Series C financing to expand development and marketing of its [m]Power Cognitive Fitness System of games, puzzles and other tools for helping users retain brain power.
The deal, led by healthcare specialist Galen Partners, is the first institutional money the company has raised since its formation in 2001, and it will help promote products first launched in November 2006. Dakim's products are targeted at potential customers with normal brain function and to patients already showing signs of Alzheimer's disease or dementia.
The company sells a proprietary touch screen-based hardware system with Web-based content that is continuously updated and automatically calibrated to users' ability levels. Founder and CEO Dan Michel said Dakim's content is derived from clinical neurology and psychology research, but designed as a media-rich entertainment system to engage users.
The company will use the money to expand sales to senior-care facilities and to introduce a home version of its product this spring. Michel said the company also is exploring an Internet or set-top box version of its products, and it will work with medical experts on applying its cognitive exercise technology to brain trauma and stroke patients. - Clifford Carlsen
See Feb. 20 press release from Dakim
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