Moonai raises €100K pre-seed investment round from Think Bigger Capital
Drug-free relief from period cramps? Helena and Laura-June, two pioneer entrepreneurs have joined forces and singular expertise to create Moonai – perhaps the first scientifically proven method to treat menstrual pain. Their idea has evolved at the intersection of three booming industries: FemTech, MusicTech, and Digital Therapeutics propelling Think Bigger Capital to single them out for a pre-seed investment round worth €100K. Women’s Rights, MusicTech and Science have been uniquely blended in a startup idea that advocates for the power of sound as a way to ease through the menstrual cycle.
Q: Tell us about Moonai
Moonai is a mobile app that uses science-based customized sounds, resources and pain-tracking insights to help alleviate period-related pain.
The project started in late 2020, during the Demium incubation program where I met Helena, my partner.
Combining our respective interests and expertise, Women’s Rights and Health on Helena’s side, and MusicTech and Science on mine, we fully jumped into it and discovered a real need waiting to be addressed. We decided to do so using a science-based, non-chemical, attractive solution through music (audio-induced analgesia).
Q: What was it like raising a round for the first time?
Thrilling and terrifying.
You are out there pitching and defending your project which you alone believe in and won’t take no for an answer. Explaining how your team is resilient and talented with strong execution skills.
Then you actually fundraise, and need to keep your promises.
But we know where we’re going and trust in our adaptability to adjust and make it happen.
Q: What will you focus your initial funding on?
The initial funding aims to keep our team focused on achieving the identified and targeted milestones and speed up some process regarding the development of our product. As explained before, our next step is releasing the app at the end of summer 2021.
To do so, we are prioritizing the expansion of our UX team and product strategy to keep the focus on our user-centric approach in the product development. And building the sound library in respect to the requirements defined by the scientific, AI, and A&R needs.
Q: What advice would you offer other entrepreneurs looking for first round funding?
Advice from my personal experience: don’t seek perfection but cohesion.
I spent so much time perfecting my numbers, financial projections, extensive AI-music strategy etc.
Don’t get me wrong, it is still important. However, at this stage, the investors recognize the value of our team and its true strength and ability to execute and overcome challenges or differences. Work on that and drop the mic.
Q: How has been your experience in Demium so far?
It has been a very dynamic experience. Entrepreneurship can be as rambunctious as the Bohemian Rhapsody song
I particularly adored the hackathon event and incubation stage of the first three months as you learn a lot and competencies in such a short period of time. The pressure isn’t really present yet and you’re still in the happy state of the ideation process.
Then, boom, you’re being hit by responsibilities, deadlines, and decisions. In our case, it was a crucial moment as it was the turning point regarding our commitment and the madness to pursue our journey.
The greatest appreciation I have for the program it’s the proximity and exchange with other fellow start-ups. You meet other entrepreneurs, face the same challenges, and grow together while always supporting each other (plus, you can always have a potential backup plan within one of them).