Wavepaths unifies immersive arts, psychotherapies and intelligent technologies into new models of care.
- Founder is a world expert in music for psychedelic therapy
- World-class collaborators: Jon Hopkins, Robert Rich, Brian Eno
- Clinical beta used in 500 patient sessions to date
- Waiting list of 1800+ clinics & therapists
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Wavepaths provides an approach to wellbeing that reconnects us with our innate capacities to heal through music, technology & psychedelic science. We are founded on a simple insight - our ways of being, our ways of relating to ourselves & others, are shaped by our experiences. We bring together the Masters of Experience: musicians, artists, engineers, psychotherapists & neuroscientists - to develop Experience as Medicine. Led by design & grounded in research, we deliver this through adaptive, personalised, digital music experiences.
Covid 19 has fundamentally changed the way we operate both personally and professionally. It has only increased our need for tools and services that support mental health and wellbeing remotely. Our personalised, generative music system facilitates transformative experiences with music, remote or in-person, for use during psychedelic therapy, psychotherapy & coaching, or for self-guided use at home.
Substantial accomplishments to date
• Sell-out pop-up Space - an adaptive, immersive experience in collaboration with Brian Eno, Jon Hopkins, Greg Haines and L-Acoustics, building a waitlist of +2400.
• 98% reported improvement in well-being, 60% improvements of 8 out of 10 or better. 86% reporting the experience was personally meaningful. 70% of guests requested return visits.
• Conducted 3 research studies, a light art study, acute and longitudinal experience studies. Results confirmed foundations of our approach and emerging insights into mechanisms.
• Developed these insights into our generative music system, producing ever-evolving music designed to meet specific therapeutic goals and adaptive to musical preference, intention and psychological state.
• Clinic beta has facilitated 500 therapy sessions with patients so far, either supporting psychedelic therapy or as a standalone therapeutic experience with music.
• We have over 1800 psychedelic therapists, psychotherapists and clinics on our waitlist.
• Developed a robust research strategy to further build the evidence base for the use of music both for and as psychedelic therapy.
• Confirmed research partnerships with four psychedelic therapy studies at leading academic institutions, with more in the pipeline.
• Support MAPs Europe's clinical trial into MDMA for PTSD with a bespoke music tool.
• Consumer experience is coming in ‘21 with a waiting list of 15,000.
• Featured in Wired, Rolling Stone, GQ, Evening Standard, Sydney Morning Herald.
Music for psychedelic therapy - our clinical platform delivers the optimum musical environment for a psychedelic therapy session, removing the guesswork and allowing therapists to focus on the patient. According to drug type, administration, dose, patient preferences and therapeutic requirements, music be adapted live to meet evolving patient needs.
Music as psychedelic therapy - our platform offers psychotherapists, coaches and guides the ability to create personalised, therapeutic ‘psychedelic’ experiences with music alone for clients.
Available via tiered subscription for clinics, private practices, therapists, coaches & guides.
Our consumer product offers individuals the ability to create therapeutic experiences with music at home. Adaptive to individual preferences, psychological state and therapeutic intention, a supportive musical environment for emotional reconnection and release. Available via a monthly / annual subscription.
Use of proceeds
Focus of our investment of time and resources over the next six months is on launching our therapist platform out of beta. Having deepened our understanding and insight into the particular needs of each of our target customer segments through a comprehensive therapist research program, we are in a position to be able to roll out a commercial grade interface / feature set for psychotherapy and self-guided home use. Meanwhile we will continue to refine our enterprise offering and support for new psychedelic drugs (MDMA/psilocybin) in partnership with clinical trials at leading academic institutions globally. Around 50% of this raise is allocated towards design and development. A lean, remote team means we can maintain modest burn for payroll and operational expenses, 23% and 6% respectively. 21% is allocated to marketing, sales and support to facilitate launches to our go to market customer segments, therapists and guides in Q4 2020, clinics in Q1 2021.
Investors in the campaign will receive the following perks:
+£5,000 = access to our fortnightly team "Experience as Medicine" event series, bringing together neuroscientists, psychedelic therapists, artists and musicians to discuss the use of music in therapy
+£1,000 = one free year individual subscription to Wavepaths basic Music Guide
+£500 = free lifetime access to Wavepaths community platform and beta testing programs
+£100 = free 1 year access to Wavepaths community platform and beta testing programs
+£10 = free remote group guided deep listening sessions (weekly availability)
Please note that any discounts and/or offer listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company's responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
The key terms that apply to the Company’s advanced subscription agreement are set out below. See also attached Key Terms document for further details.
- Discount – conversion at a 10% discount to the valuation set by a Trigger Event.
- Valuation cap of £15,000,000
- Conversion is triggered by ("Trigger Events"):
- An Equity Fundraise – defined as the Company raising investment capital of at least £500,000 from one transaction or a series of transactions, in exchange for the company issuing equity shares.
- A Change of Control of the company (transfer of more than 50% of the share capital); or
- An IPO – being a listing of the company’s shares on a recognised stock market or secondary market.
- Longstop Date is 6 months from the date of the advance subscription agreement.
- If conversion has not been triggered by the Longstop Date shares will be issued on the longstop date at the Default Share Price, which is the lower of:
- the lowest price of any shares issued after the date of this Agreement; and
- a pre-money company valuation of £5,000,000
- The convertible would also convert to equity at the Default Share Price in the event of winding up or liquidation of the company.
Wavepaths has two loans outstanding:
1) A £55,000 Director's loan, with no interest; and
2) A £50,000 Bounce-back loan, with no interest or repayments due for the first 12 months. The loan is to be repaid within the interest free period by 5 May 2021.
No investor funds will be used for the repayment of debt.
Wavepaths has two share classes, A Ordinary and Ordinary shares. Seedrs will be receiving A Ordinary shares.
Both classes of shares have equal voting, dividend and participation rights.
Ordinary shares have broad-based weighted average anti-dilution rights, which gives ordinary shareholders the right to be issued shares at a nominal value in the event of a down-round.
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