Bwave
Bwave is a Korean digital mental healthcare company that builds AI-based EEG and PPG biosignal analysis software for objective mental health assessment and diagnosis. It sells consumer self-care apps and B2B clinical evaluation solutions to individuals, hospitals, corporations, and public-sector occupational groups.
- Company typePrivate
- Founded2019
- HeadquartersGyeongju, South Korea
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Bwave does
Bwave Inc. (비웨이브 주식회사) is a South Korea-based digital mental healthcare company founded in 2019 by psychiatrist Lee Seung Hwan, Professor at Inje University Ilsan Paik Hospital and Chairman of the Korean Academy of Anxiety and Mood (KAAM). The company develops AI-driven biosignal analysis software that interprets two-channel EEG and PPG/HRV data to assess mental health, classify individuals into an EEG-Based Subject Index (EBSI) typology, and support early detection of conditions including depression, anxiety, OCD, PTSD, schizophrenia, and bipolar disorder. Its technology stack combines proprietary ML/DL models with clinical big-data biomarkers (resting-state EEG and event-related potentials such as MMN, LDAEP, 40Hz ASSR) and is positioned as the first commercialized biosignal-based mental health assessment platform in Korea.
The company's product portfolio spans four tiers under the Maumgyeol (iMindwave) brand: Maumgyeol Mini (a consumer smartphone self-care app delivering a 90-second biosignal-based score with personalized healing options), Maumgyeol Basic (a clinical-grade 2-channel EEG/PPG assessment solution producing brain and mind health scores within roughly five minutes), and the upcoming Maumgyeol Gear (precision ERP-based assessment) and Maumgyeol Pro (clinical diagnostic support for major depressive disorder, schizophrenia, and PTSD). Distribution is multi-channel: direct-to-consumer app download, B2B group assessment bookings for organizations, healthcare institution partnerships, and conference-led visibility (e.g., COMPUTEX 2026).
Bwave operates a hybrid monetization model: a freemium consumer app with premium subscription tiers, per-use and group-booking fees for B2B assessments, and corporate/organizational wellness contracts. Capital to date is modest at approximately 800 million KRW raised via securities-based crowdfunding through the Crowdy platform in 2022, with no disclosed institutional venture rounds; revenue figures are not publicly disclosed. The company holds ISO 9001:2015 quality certification and Korean Social Venture Company status (both 2025), and is headquartered at the KINTEX Zone building in Ilsanseo-gu, Goyang-si, Gyeonggi-do.
Bwave firmographics
Firmographics- Name
- Bwave
- Legal name
- 비웨이브 주식회사 (BWAVE Inc.)
- Website
- https://bwaveeeg.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bwave is a Korean digital mental healthcare company that builds AI-based EEG and PPG biosignal analysis software for objective mental health assessment and diagnosis. It sells consumer self-care apps and B2B clinical evaluation solutions to individuals, hospitals, corporations, and public-sector occupational groups.
- Ownership category
- akta.pro rank
Bwave industry classification
Industry- Product category
- Digital Mental Healthcare Software
- NAICS
- Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Offices of Physicians, Mental Health Specialists (621112), Outpatient Mental Health and Substance Abuse Centers (621420)
- SIC
- Electromedical & Electrotherapeutic Apparatus (3845), Services-Prepackaged Software (7372), Laboratory Analytical Instruments (3826)
- akta.pro primary industry
- Psychiatry & Medication Management Platforms (HLALAEAB)
- akta.pro secondary industries
- Integrated Behavioral Health (Collaborative Care) Platforms (HLALAEAC), Mental Wellness & Stress Management Devices (Biofeedback, Meditation/Neurostimulation Devices) (CRACAQAL)
Keywords
Where Bwave is headquartered
LocationHeadquarters
- HQ city
- Gyeongju
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
Bwave business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Others
Revenue model
- Maumgyeol (iMindwave) Service Subscriptions: SaaS-based digital mental healthcare services offered at multiple tiers (Mini self-care app, Basic assessment solution, Gear precision assessment, Pro diagnostic solution). Revenue is generated through per-use measurement fees, group measurement bookings, and subscription-based access to the app's self-care features.
- Group / Corporate Mental Health Assessment: B2B channel offering Maumgyeol Basic group measurement services for organizations, schools, and corporate wellness programs, with inquiry and booking forms available on the website.
- Crowdfunding / Investment Capital: The company raised approximately 800 million KRW through securities-based crowdfunding, indicating an additional funding/revenue stream beyond product revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Maumgyeol Mini: Self-care mental health monitoring app |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels9 records
Bwave product offering
Product offeringCore offering
Bwave develops and sells AI-based software that analyzes EEG and PPG biosignals for objective mental health assessment and psychiatric disorder diagnostics. Its core Maumgyeol (iMindwave) platform includes a consumer self-care smartphone app (Mini) and a clinical-grade two-channel EEG/PPG assessment solution (Basic), with upcoming precision evaluation and psychiatric diagnostic tiers (Gear and Pro). The platform generates brain and mind health scores, EBSI type classifications, and personalized care recommendations within approximately 5 minutes of measurement.
Product overview
Bwave offers a four-tier digital mental healthcare platform under the iMindwave (마음결) brand: (1) iMindwave Mini - a self-care mental health monitoring app for 90-second smartphone-based assessment; (2) iMindwave Basic - a clinical-grade evaluation solution using 2-channel EEG and PPG biosignal measurement with AI analysis; (3) iMindwave Gear - an upcoming precision evaluation solution incorporating event-related potentials; and (4) iMindwave Pro - a diagnostic solution for major psychiatric disorders. All products leverage AI-based EEG and PPG analysis to provide objective mental health assessment.
Differentiator
Problem solved
Functional benefit
Brands
- 마음결 미니 (iMindwave Mini): Smartphone application for self-monitoring of mental stability. Allows users to check mind stability scores and share results with friends. Includes 'Healing Breath' guided breathing exercises and 'Send My Mind' sharing feature.
- 마음결 베이직 (iMindwave Basic)
- 마음결 기어 (iMindwave Gear)
- 마음결 프로 (iMindwave Pro)
Products and services
- Maumgyeol Mini (iMindwave Mini / 마음결 미니) Self-care mental health monitoring smartphone application that allows users to measure mental health status in 90 seconds using biosignal-based assessment. Provides health scores, EBSI (EEG-Based Subject Index) type classification, and personalized healing options including 'Healing Breath' guided breathing exercises and 'Send My Mind' social sharing of mental health scores. Targeted at individual consumers seeking objective mental health self-monitoring.
- Maumgyeol Basic (iMindwave Basic / 마음결 베이직) Biosignal-based mental health evaluation solution using 2-channel frontal lobe EEG and PPG measurement, providing objective brain health and mind health scores within approximately 5 minutes. Includes EBSI type classification, detailed reports delivered via KakaoTalk or email, and customized healing options and lifestyle management tips. Available for individual users, group bookings, and organizational/corporate wellness programs.
Quantifiable outcome
- 78.9% classification accuracy between schizophrenia and bipolar disorder using EEG-based machine learning (MFE & RP metrics)
- +2 more outcomes
Companies that use Bwave
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Bwave technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability4 records
Feature9 records
Bwave partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Korea Management Registrar Inc. (KMR / 한국경영인증원)coreKMR conducted the formal audit and issued the ISO 9001:2015 Quality Management System certification to Bwave, recognizing the company's quality management practices for its AI-based digital mental healthcare solutions.
- Korea Eisai (한국에자이)coreBwave participated in Korea Eisai's 2nd Healthcare Ecosystem Symposium alongside other startups (NeuroExsti, MindHub, Mago) developing dementia and mental health technologies. Korea Eisai supports open innovation programs and has collaborated on verification studies for Bwave's technology and products.
- KU Mind Health Institute (고려대학교 마음건강연구소)coreBwave signed an MOU with KU Mind Health Institute for joint development of innovative healthcare and mental care services, mutual technology/content development and validation, and collaborative education, assessment, and counseling programs.
- Korea Health Industry Development Institution (KHIDI)minorKHIDI organized the 2021 4th K-BIC STARDAY event where Bwave was selected to present its AI-based EEG diagnosis technology as part of KHIDI's support for health industry startups.
- K-BIC (Korea Bio Council)minorK-BIC organized the 2021 4th K-BIC STARDAY investment presentation event. Bwave was selected as one of the presenting companies alongside other health-tech and medtech startups.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Bwave competitors and assessment
Company assessmentDirect peers
- Muse (Interaxon): Muse produces consumer EEG headbands with companion meditation and mental wellness apps, using real-time brain-signal feedback. Like Bwave, Muse blends biosignal hardware with mental health self-care software, though Bwave's clinical/psychiatric positioning is a step deeper than Muse's wellness focus.
- iMediSync: iMediSync develops EEG-based diagnostic platforms (notably iSyncWave) for early detection of neurodegenerative and psychiatric conditions. It is a direct competitor in AI-EEG mental/cognitive diagnostics, targeting similar clinician and research customers globally.
- EMOTIV: EMOTIV builds consumer and research-grade EEG headsets and AI-driven brain data analytics, including mental wellness and performance applications. Its technology stack, biosignal AI positioning, and developer/research ecosystem closely mirror Bwave's EEG+AI approach for brain and mental health assessment.
- Ybrain: Ybrain is a Korean digital mental health startup developing EEG-based biomarkers and software for depression and cognitive disorder monitoring. It is the most direct domestic peer to Bwave, operating in the same Korean EEG-mental-health diagnostic category with overlapping biosignal AI ambitions.
Emerging players
- NeuroSky: NeuroSky supplies low-cost EEG biosensor chips and developer kits used in consumer wellness and research devices. As an upstream biosignal technology vendor, it competes indirectly with Bwave's Maumgyeol Basic hardware approach while serving a similar EEG-meets-consumer-health market.
- Kernel: Kernel develops brain-sensing hardware (e.g., Kernel Flow, Flux) and cognitive/mental state measurement platforms. While broader than Bwave, it represents a well-funded entrant in objective brain measurement with overlapping ambitions for cognitive and mental health biomarker markets.
- BrainCo: BrainCo produces EEG-based wearables (e.g., FocusCalm, BrainRobotics prosthetics) with applications in attention, mental wellness, and education. Its consumer/education positioning and multi-tier product strategy parallel Bwave's Mini-to-Pro roadmap in adjacent geographies.
- Dreem: Dreem (formerly Rythm) builds EEG-enabled headbands focused on sleep and cognitive performance, with adjacent mental wellness applications. Its consumer-grade wearable EEG and subscription app model overlaps with Bwave's Mini self-monitoring app and Basic evaluation segments.
Broad incumbents
- Samsung Health / Apple Health: Samsung Health and Apple Health are broad incumbent health platforms that increasingly bundle mental wellness, stress, and heart-rate features. As consumer platforms that control device ecosystems and developer APIs, they represent the long-term platform risk to niche players like Bwave in consumer mental health self-monitoring.
- Calm / Headspace: Calm and Headspace are the leading pure-SaaS digital mental wellness apps globally. They compete for the same consumer mind-health wallet share as Bwave's Maumgyeol Mini but without biosignal-based objective assessment, illustrating the PLG competitive set Bwave must differentiate against.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Bwave social profiles
Digital presenceBwave compliance and trust
Trust signalCompliance2 records
Bwave financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bwave leadership team
Management profileNumber of profiles
Profiles1 record
Bwave funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bwave M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bwave
What does Bwave do?
Bwave develops and sells AI-based software that analyzes EEG and PPG biosignals for objective mental health assessment and psychiatric disorder diagnostics. Its core Maumgyeol (iMindwave) platform includes a consumer self-care smartphone app (Mini) and a clinical-grade two-channel EEG/PPG assessment solution (Basic), with upcoming precision evaluation and psychiatric diagnostic tiers (Gear and Pro). The platform generates brain and mind health scores, EBSI type classifications, and personalized care recommendations within approximately 5 minutes of measurement.
Is Bwave a public or private company?
Bwave is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Bwave founded?
Bwave was founded in 2019. It employs 11 to 50 people.
Where is Bwave based?
Bwave is headquartered in Gyeongju, South Korea, in the Asia region.
How does Bwave make money?
Three revenue lines are on record. Maumgyeol (iMindwave) Service Subscriptions are the primary driver. The others are group / Corporate Mental Health Assessment and crowdfunding / Investment Capital.
Who are Bwave's main competitors?
Direct peers on record are Muse (Interaxon), iMediSync, EMOTIV and Ybrain. Emerging players are NeuroSky, Kernel, BrainCo and Dreem. Broad incumbents are Samsung Health / Apple Health and Calm / Headspace.
Does Bwave have an API?
No public API is recorded for Bwave.
What industry is Bwave in?
Bwave's product category is Digital Mental Healthcare Software. Its primary akta.pro industry code is HLALAEAB, Psychiatry & Medication Management Platforms, with a secondary code of HLALAEAC, Integrated Behavioral Health (Collaborative Care) Platforms. Its NAICS code is 334510 and its SIC code is 3845.