Kryo and Ebb Therapeutics Merge as Company Also Raises Major Funding

By Thomas Price | Friday, 01 January 2021 | Startup, Health & Wellness

The sleep market is on the rise, which is why both sleep tech startups Kryo and Ebb Therapeutics are merging and forging on a way to success by providing their customers with quality sleep products.

Especially in 2020, with fears of a pandemic and economic uncertainty, many individuals have found it more difficult to get the proper rest they need. Whether that is directly caused by stress, quality of the mattress, or finding the right temperature, people have been actively trying to find new methods to help improve their sleep. Between startups Kryo, parent company of ChiliSleep, and Ebb Therapeutics, at least temperature will no longer be a problem. The merger of the two companies resulted in an announcement of new funding for Kryo.

Kryo/ChiliSleep and Ebb Therapeutics

Kryo is a startup that has created ChiliSleep, a company that has created cooling pads and blankets to help individuals address their sleep needs even in the heat. ChiliSleep’s products have been effective enough that the company has partnered with many notable organizations, including The Wounded Warrior Project, the Specialty Sleep Association, the National Sleep Foundation, and the Consumer Technology Association.

Ebb Therapeutics is also a startup, but instead of focusing directly on pads or blankets, their work involves creating an electronic device meant to bring optimal levels of coolness to one’s forehead in an effort to produce an improved sleeping experience. The company has also garnered partnerships from major names, including Sleepscore Labs, The Sleep Doctor, and the American Sleep Association. Both startups work deeply in temperature regulation for sleep and sleep science, and their subsequent merger in turn makes a lot of sense.

Kryo’s Merger With Ebb Therapeutics and New Funding

Along with Kryo’s merger with Ebb Therapeutics, the startup recently raised an impressive $37 million from their most recent funding round. The round was led by Ebb Therapeutics’s former biggest investor, KKR. As for the merger, it appears that the Kryo management team will be leading the merged companies, while there is yet to be word if any of the Ebb Therapeutics executives or their team will be in positions of authority as well.

On the product side, ChiliSleep’s pads and blankets will continue to be sold after the merger is completed, though again, there is yet to be word if products from Ebb Therapeutics will also be sold. The major plan that seems to be in the works from this merger is the launch of Sleep.me, a new software platform using part of the framework from a system already created by the startup. The software platform will provide users with sleep community content as well as coaching; Customers will have an option to choose a paid or free version.

Kryo’s merger with Ebb Therapeutics makes a tremendous amount of sense given the explosion of the sleep market — now estimated to be worth a staggering $432 billion.

Kryo’s merger with Ebb Therapeutics as well as the recent round of funding, which raised $37 million, will help the startup take significant steps toward growth and success. Especially with an increasing sleep market, and the quality of the products already sold by ChiliSleep, Kryo is primed to take a spot near the top of the industry.
The merger with Ebb Therapeutics has made the company the absolute forefront of all temperature-regulating sleep products. With a strong team of sleep scientists from both companies collaborating under one roof, there is much potential for greater innovation in the near future.

About the Author

Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.