Lowenstein represented 6th Man Ventures, an early stage crypto VC firm investing in web3 applications and infrastructure, in a $3.5 million seed funding round in Sleepagotchi, a Cambridge, MA-based provider of a mobile application with gamification and social elements that helps users improve their sleeping habits across the world.
Other participants included Collab+Currency, Shima Capital, 1kx, DeFi Alliance, Sfermion, Emoote, LCA Game Guild, Cem Kansu (VP Product at Duolingo), Santiago R Santos, and Justin Melillo (founder of Mona). Serge Kassardjian, General Partner at 6th Man Ventures and CEO of Staytuned, will join the Board of Sleepagotchi as a Director.
The company intends to use the funds for effective product development and initial scaling.
Sleepagotchi is an app that rewards users for meeting consistent sleep goals with digital collectibles. Every morning, users claim a digital collectible from which they can construct virtual collectible rooms. In Sleepagotchi, users enter their target bedtime and wake-up time that they hope to achieve consistently. Users then receive different levels of rewards depending on how close their actual bedtime and wake-up times were to their target and how consistent they were.