ReMinded

Munich, January 2025

ReMinded is a US-based med-tech company in mental health, developing a portable, non-invasive device that detects a specific set of saliva biomarkers associated with stress. By integrating these quantitative metrics, they aim to simplify the identification and prevention of prolonged stress and indications of depression that may otherwise remain undetected. ReMinded‘s innovative solution earned them the second-place in the WT Innovation World Cup® US at WT | WEARABLE TECHNOLOGIES CONFERENCE 2024 USA.

We had an insightful conversation with the ReMinded team. Let’s explore their journey and the steps they took towards this remarkable achievement.

1. HOW DID IT ALL START?
   My name is Annika Lundström, CEO and Founder of a healthcare startup named ReMinded. My background is a mix of three main roles: Youth Olympian in table tennis, Molecular Bioscientist, and now, a MedTech entrepreneur. ReMinded is revolutionizing mental health assessment with a non-invasive, rapid biosensor test for cortisol measuring. By integrating objective, quantitative data into mental healthcare, we enable timely interventions, and improve outcomes for individuals experiencing these issues that otherwise go easily unnoticed. Our team of talented experts in biosensor technology, mechanical engineering, and medical device development is committed to transforming this industry field and remote health check-ups through innovation, precision, and a data-driven approach.I started the company about 1.5 years ago while studying for my degree in Molecular Biosciences at the University of Helsinki, Finland. In my free time, I conducted extensive research in the biosensor and medical device space and became fascinated by how technology and innovation could address the longstanding issues in mental healthcare, which has been plagued by subjective assessments and a lack of quantifiable data. After setting the foundation and entering a business development program through my university, which opened up the world from pure research and academia to HealthTech and startups for me, I discovered my true passion for addressing mental health challenges. This issue resonates personally due to my own life experiences, and I now know for certain that dedicating myself to this cause is my life purpose. I couldn’t see myself committing to anything else.The name “ReMinded” carries a dual meaning: it reflects our mission to improve mental healthcare and serves as a reminder of the importance of maintaining overall health and mental well-being. Your health is the most precious thing you have, and improving it requires your full focus. I bring my firsthand experience to this company, and I want you to know that healing is possible.
2. WHAT ARE THE KEY MILESTONES YOU HAVE REACHED SO FAR?

In the past 6 months, some of the main highlights for us have been:

• Secured a $500,000 pre-seed funding round in summer 2024.
• Rapid saliva-based cortisol sensor development to a point where it is fully ready for integration in clinical settings in a few months.
• Securing a partnership with a well-known hospital with whom we’re arranging to conduct a clinical trial in Q2 2025.
• Filed a U.S. patent.
• On track with the FDA’s regulatory requirements for approval by summer/fall 2025.
• Established the company in the United States in May 2024 and moved most operations there, after setting our foundation in Finland.
• On a personal note, I won ‘Rising Star of the Year’ at the Nordic Women in Tech Awards 2024 and delivered a TEDx Talk in July 2024.

While these milestones may look impressive, they reflect the countless hours and hard work required to reach them. One of the greatest strengths of our team is our perseverance. In the challenging fields of healthcare and hardware, patience and resilience are crucial. I’m highly proud of our collective growth as a startup and as individuals, and it’s exciting to move into this new phase with bigger goals and the drive to execute even more together, which is the most fun part of it all. A huge thanks to our CSO, Sanjida Yeasmin, and our CTO, Adil Shah, whom I’m honored to work alongside on this tough yet rewarding journey.

3. WHAT WERE THE BIGGEST CHALLENGES YOU HAVE FACED?

Looking back, two key challenges stand out that, in hindsight, could have saved us significant time, effort, and maybe some sleep!

1. Simplify your concept
   In a highly technical field, complexity can creep in right from the start. Our initial device plan was overloaded with features, sensors and AI analytics, which ultimately didn’t make sense. Trying to cover too many areas at once spread us thin and slowed execution. Once we narrowed our focus to the core — sensor detection of specific saliva biomarkers — interest grew quickly, and our strategy became much clearer.
2. Build small traction before aiming too high
   In fundraising, I initially targeted the biggest venture capital names, expecting concrete results without having enough traction to prove our value. I wasted time on Zoom calls and email updates with investors who I knew deep down we were way too early for. However, the harsh feedback I received helped me refine my pitch and narrative. Investors aren’t the enemy; often, they have more context than you. Adapting to their constructive criticism is crucial for successful fundraising. In the beginning, it’s tactically better to build trust with smaller, private investors who believe first and foremost in you and your team. This can create a snowball effect and attract larger investors as they see potential in your venture.

Securing our first round of funding has been, without a doubt, one of the hardest things I’ve faced. The pressure was immense, knowing that if it didn’t fall into place, we could vanish almost overnight. But instead of letting the pressure paralyze me, I saw it as an opportunity to seek new outcomes and ways of executing.
The journey is far from over, but this milestone has shown me the power of relentless determination and taught me the invaluable lesson of consistently showing up and having an almost unwavering, even delusional, faith in myself.

My biggest recommendation I would give to others is that when doubt creeps in, you should reframe the question. Instead of asking, “What if it doesn’t work out?” ask yourself, “Would I have started this if a part of me didn’t believe it could succeed?” Overthinking often fuels doubt, which leads to inaction. Feeling uncomfortable or unprepared is usually a sign you’re growing. The key is to keep doing the right things consistently, even when the payoff isn’t immediate. For example, last spring in San Francisco, I worked tirelessly to secure the foundational funding for ReMinded. It wasn’t easy, but I trusted that the delayed gratification would eventually come. Whether it takes two days or five months, the results will follow

4. WHAT IS COMING IN THE NEAR FUTURE?

Without revealing too much about our longer-term plans, we’re currently making essential iterations on our technology with the secured funds. We’re also building pilot projects and trials with various U.S. healthcare institutions for clinical data collection in the near future. Validating our technology in real-world settings is key to solidifying our position in the industry. We’re also preparing for another funding round in Q3 of 2025 and planning to expand our team in various ways as we grow, whilst moving along on regulatory requirements towards commercialisation in 2026.

5. DESCRIBE YOUR EXPERIENCE IN THE INNOVATION WORLD CUP®   

First and foremost, our team wants to express our gratitude for the opportunity to present at the Wearable Technologies Innovation World Cup finals and for the recognition of the 2nd place award we received from the jury, selected from over 600 participating startups. This is a meaningful win for our team and a comes to show how our efforts are paying off in various ways.

“Our team decided to take part in the competition not only to gain more exposure and a great chance to win, but also to challenge ourselves by putting ReMinded out there to a larger, reputable crowd. I believe these types of experiences help you grow significantly, both when it comes to building confidence for public speaking and refining your pitch under pressure. Winning 2nd place was a fantastic outcome for us, and it has significantly boosted our credibility in the tech industry, opening doors to future opportunities and partnerships.”

– Annika Lundström, CEO and Founder

The conference was well-organized, and I was amazed by the latest advancements in healthcare technology, specifically targeting the utilization of VR in surgical procedures. My key takeaway was the importance of real-world implementation of our device and ensuring that our business model aligns with the incentives of various stakeholders, rather than focusing solely on the technology.

The healthcare industry is complex, and it’s vital to consider multiple perspectives. Positioning ourselves as not only reliable but also beneficial to the healthcare system, with clear outcomes, is crucial for long-term success and for the monetization strategy we have in mind.

6. YOUR THREE TIPS FOR UP-COMING STARTUPS

1. Simplicity Wins the Game: Explain your concept so clearly that anyone, regardless of their background, can easily understand what you’re building. Clear and straightforward communication is essential.
2. Paint a Big Picture: Articulate a compelling vision of the future and how your startup fits into it. Investors and audiences are drawn to big ideas and transformative potential. Show them not just what you’re doing now, but how it can scale into various applications and outcomes in the future.
3. Perfect Your Pitch: Practice until you can deliver your pitch flawlessly, even if woken in the middle of the night. There are no shortcuts to this level of mastery; great public speakers appear effortless because of the countless hours of preparation they’ve invested, which no one actually gets to see.

Thank you for sharing these valuable insights. We look forward to following your future endeavours and the exciting milestones you will achieve moving forward!

Visit ReMinded and learn about their innovative approach to remote testing for prolonged stress.

Are you ready to write your own success story? The 17th Healthcare Innovation World Cup and 16th Innovation World Cup are open for submissions. Participation is free of charge.