Fisher Wallace has raised nearly $3 million on StartEngine

Medical device startup Fisher Wallace Laboratories has been named one of “5 Health-Tech Startups to Watch in 2021” by Entrepreneur magazine and has raised nearly $3 million on StartEngine, a leading equity crowdfunding platform. The majority of the company’s investors are its own customers – people who have used Fisher Wallace’s prescription wearable to treat anxiety, depression and insomnia.

The company’s Version 1 device has sold over 70,000 units via 14,000 prescribers. Version 2 is currently being designed by Eric Fields, the award-winning designer of Beats and Nest products, and will feature a mobile app that tracks symptoms and cognitive performance. Version 1 looks like a hospital device – true to its origins – but Version 2 will have the look and feel of a modern consumer wearable while still requiring a prescription and delivering the same FDA-Cleared brain stimulation as its predecessor.

The device works by stimulating the brain to produce neurotransmitters responsible for healthy mood and sleep, while modulating the default mode network and entraining a calm brainwave state. Multiple clinical trials have demonstrated safety and effectiveness, including three studies performed during the pandemic.

Fisher Wallace sells its devices directly to patients, who pay out-of-pocket, via its e-commerce website. The company recently partnered with a national telemedicine provider, and will soon integrate a seamless prescription experience into the checkout process – much like Hims&Hers offers for medication.

Last month, Peter Rojas, a partner at the venture capital firm Betaworks Ventures, joined Fisher Wallace as an advisor.

Investors who invest $1500+ are eligible to receive a free device (which currently retails for $499). Learn more about the company on StartEngine. MassDevice