Snug Vest by Wearable Therapeutics today announced the successful closure of $500,000 in seed funding.
This is the first round of investment for the Vancouver-based company, founded by 27-year-old Lisa Fraser. It was led by Arc Capital Development in Colorado.
“It’s been very exciting to see Snug Vest grow from a concept developed in design school to a full fledge product that is helping change the lives of people affected by anxiety, autism and sensory disorders,” said Fraser.
Snug Vest is a therapeutic wearable vest, which targets anxiety and stress management for families dealing with autism.
In 2014 Snug Vest received the Red Dot Product Design Award, was a finalist for the Medical Design Excellence Award, and its founder made a successful appearance on CBC’s Dragons Den.