Low funds pushed Thync Startup on the verge of failing
Sayonara Thync Startup!
Founded by Isy Goldwasser & Jamie Tyler in the year 2011, Thync Startup has a unique module that confronts brain activity using a wearable device. It has raised overall $13 Million in two rounds. Thync performed well during initial stage, but later lack of funds pushed the startup to lay off workforce and auctioned company asset as reported in Bloomberg.
A lot of things rely on the way we think. Due to lack of concentration it is not easy to be productive in life. Thnyc is a module that helps to calm brain vibes using tiny electric pulses. Its proprietary technology is designed to calm mind waves to boost concentration, enhance sleeps and increase energy. The module has wearable gadget that sticks on the forehead and strips to place at the back side of neck. Users can control and manage the vibes through a Smartphone app. Thync Wearable gadgets bring unique technology to manage brain vibes, enticing tech enthusiasts to try something new.
Fund exhaustions and lack of investor’s interest contributed in the shutting down of business. The startup has worked on excluding a major portion of staff and auctioned company’s assets to curb expenses. It is noticeable the flow of fund into startups is getting lower with time. This will affect the life of many new concepts that is under a process to reach investors. Thync is just one example.
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- Thync a California based Startup that offers a wearable device to clams brain activity, is on the verge of shutting down.
- Unable to raise funds is a major cause that let to startup failure.