BOSTON, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Ozlo Sleep (Ozlo), a science-driven sleep and audio technology company, emerged from stealth today with plans to launch Ozlo Sleepbuds®, a revolutionary headphone designed specifically for sleep. Ozlo is on a mission to clinically enhance rest without pharmaceutical intervention to improve both wakefulness and the quality of mental and physical well-being. Ozlo’s Sleepbuds will launch later this summer after completing a $10M Series A funding round last fall led by LifeArc Ventures and ARTIS Ventures.
There is increasing recognition of the importance of sleep and the negative impacts of poor sleep on health and quality of life. Nearly one in three adults struggle with inadequate sleep, resulting in an economic impact of over $411 billion and the loss of 1.23 million working days annually in the U.S. alone. To tackle sleep issues, almost 1 in 5 adults take some form of medication, but approximately 80% of those using prescription sleep aids experience side effects the following day, such as oversleeping, drowsiness or confusion. These can also lead to more serious health issues including addiction and depression.
As a result of these significant challenges, there is substantial demand for digital interventions that are proven to be safe and effective. Ozlo is developing and manufacturing an ecosystem of best-in-class sleep products, including the Ozlo Sleepbuds® that leverage certain acquired and licensed proprietary sleep-related technology from Bose Corporation.
Most sleep monitoring tools simply report data on your prior night’s sleep, Ozlo is unique in its ability to use that data to personalize and customize digital solutions that can help you improve conditions to accomplish quality sleep and potentially alleviate major sleep disorders–all delivered through their closed loop of hardware and software.
“Our vision extends beyond a good night's sleep–we want to help people wake with clarity and energy so they can unlock their full potential. With our focus on innovation, we’ll forge an ecosystem of unparalleled sleep technologies that promote restorative sleep and enhance wakefulness,” said N.B. Patil, CEO at Ozlo. “For most people, medication is simply a bandaid for poor sleeping habits, not a solution. Non-medical sleep aids are sustainable alternatives for everyday use and we plan to use this funding to make them better, and more accessible for people to elevate sleep as a catalyst for personal growth.”
Ozlo Sleep is co-founded by three ex-Bose employees, including Ozlo’s Chief Executive Officer, N.B. Patil, who brings over 25 years of experience in consumer electronics, 38 granted patents, and a track record of developing pioneering consumer devices. Patil is joined by Brian Mulcahey and Charles Taylor, who bring decades of product development experience and have joined the executive team as COO and CPO respectively. Dr. Imran Hamid, Senior Investment Principal at LifeArc Ventures, and Vasudev Bailey, Senior Partner at ARTIS Ventures, have joined the Board of Directors.
"Insomnia and poor sleep quality are recognized drivers of morbidity and mortality, with sleep deprivation increasing the risk of many serious health issues. With conventional pharmaceutical interventions increasingly associated with unacceptable risks and side effects, there is growing demand for non-pharmacological sleep solutions,” said Dr. Imran Hamid, Senior Investment Principal at LifeArc Ventures. “With the global sleep tech market valued at more than $15 billion and expected to grow rapidly, we believe that Ozlo has the skills and expertise to build Ozlo Sleepbuds® into a powerful global brand to help individuals achieve improved rest, health and wellbeing.”
“Most sleep monitoring tools simply report data on your prior night’s sleep,” said Vasudev Bailey, PhD, Senior Partner at ARTIS Ventures. “The Sleepbuds® are the first and only device of its kind that have been clinically validated to help people fall asleep. What’s unique is that the data acquired while you’re sleeping is used to personalize and customize digital solutions that can potentially alleviate major sleep disorders–all delivered through software as a medical device.”
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About Ozlo Sleep
Ozlo Sleep is a science-driven sleep and audio technology company founded with the goal of helping the millions of people who struggle with sleep. Using intuitively designed, non-pharmaceutical sleep technology, Ozlo is building an ecosystem of products that support and simplify sleep rituals for clinical benefits, without the use of medication. To learn more about Ozlo’s mission to revolutionize sleep, visit www.ozlosleep.com.
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