The Venture Codex

Led · Seed · Jun 2015

Snug Vest (by Wearable Therapeutics Inc.) produces an inflatable therapeutic vest that provides anxiety relief through a clinical method called deep pressure therapy for individuals managing autism, high stress, or sensory processing disorders. The vest's design simulates a comforting hug and is used by occupational therapists, teachers, adults, and children. The product has received international recognition, including a 2014 Red Dot Product Design Award, a finalist placing for the Medical Design Excellence Award, and the founder's appearance on CBC's Dragons' Den. The company is based in Vancouver, British Columbia, and is 92% Canadian and 8% American owned. Snug Vest recently closed over C$500,000 in seed funding and plans to use the capital to scale operations, increase marketing across North America, and support production, future technology development, clinical research, and general operations. The company was founded by Lisa Fraser, who serves as CEO.