MindMaze
- π¦Became a unicorn2016
- πPeak valuation$1 Billion β16
- πBecame a Unitard2025
- πΈLast valuation estimate~$30M
Total raised averaged per day over approximately 13.0 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology
The rise & fall
6 moments Β· 2012β2026The key moments.
How it happened
MindMaze, founded in Lausanne in 2012 by Tej Tadi, built virtual-reality and motion-tracking therapeutics for neurological rehabilitation and became Switzerland's first unicorn on a $100M round led by the Hinduja Group in 2016, valuing it around $1B. Later rounds were reported to value it near $1.5B, though those figures were never formally disclosed.
Cash ran short, and in 2025 the Swiss operating company entered a debt-restructuring moratorium; its assets and brand were carved into a successor, NeuroX. In December 2025 NeuroX reverse-merged into the SIX-listed biotech Relief Therapeutics, which was renamed MindMaze Therapeutics Holding, and whose shares trade at a small fraction of the old valuation.
Glassdoor reviews were sharply negative in the later years, citing weak communication and unclear vision and, in some accounts, late salary payments before the 2025 restructuring.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β. See our methodology.
Source: Fortune / TechCrunch (Feb 2016): a $100M round led by the Hinduja Group at a ~$1B pre-money (~$1.1B post), Switzerland's first unicorn. Bloomberg (via Fierce Biotech) and Global Venturing: later rounds (Oct-2021 AlbaCore $125M; Feb-2022 Concord Health $105M) were described as valuing it 'more than $1.5B,' but the valuations were never formally disclosed, so they are estimates, not priced marks. Le Temps: a definitive sursis concordataire was approved ~May 6, 2025, with a pre-pack carve-out to NeuroX (~60 staff) mid-May 2025. Vischer / Venturekick: Relief Therapeutics (SIX: RLF) combined with NeuroX and was renamed MindMaze Therapeutics Holding SA (SIX: MMTX), first trade Dec 15, 2025; recent market value ~CHF 30M. Founded 2012 by Tej Tadi.
Founders & leadership
- Tej Tadifounder & CEO (led at peak)No public profile matched
Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.
Disclosed investors (7)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round Β· Crunchbase β Β· 2026-10-13 Β· Methodology Β· Leaderboard