Misfit Wearables, a wearable devices startup founded by AgaMatrix co-founders Sonny Vu and Sridhar Iyengar and former Apple CEO John Sculley, recently raised a $7.6 million round of funding co-led by Brian Singerman of the Founders Fund. According to a report in TechCrunch, the other as-yet-unnamed lead venture capital firm was Khosla Ventures. Singerman also led the Founders Fund investment in mobile health app company Azumio's $2.5 million round last summer.
Misift Wearables has kept its plans very close to the chest -- the most revealing summary of the startup’s plans: “inventors and makers of cloud-connected wearable sensing products for fitness and medical applications.”
The Boston Globe broke the news last year that Sculley had joined Misfit Wearables as an early investor and co-founder of the startup. Sculley is already involved as an advisor at a handful of other medtech startups. He’s on the board of directors of Watermark Medical, developer of an in-home sleep apnea diagnostic device, and on the board of advisors at Audax Health Solutions, a consumer health startup which uses gamification and social networking for health management.
MobiHealthNews broke the news on Vu's departure from AgaMatrix to start Misfit last July, back then the venture went by Aetherware Corporation. A few months after Vu left, the FDA (finally) cleared AgaMatrix's iPhone peripheral, called the AgaMatrix Nugget, the first iPhone medical device cleared by the FDA. Sanofi exclusively sells the device in Europe and the US as the iBGStar. While FDA cleared, it is not yet available in the US.