New York City-based health sensor company LifeBeam has raised $16 million in a round led by Squarepeg Capital with participation from Wellborn VC, Cerca Partners, Atomic14 VC, and Triventures VC. This brings the company’s total funding to date to $19 million.
LifeBeam, which was founded four years ago, initially developed wearable biosensing technologies for the aerospace domain, including NASA and the US Air Force, the company’s CEO Omri Yoffe told MobiHealthNews.
The company then started to make sensors for other companies to embed in their wearable devices. Some of LifeBeam’s corporate customers include Samsung and Under Armour. LifeBeam also sells a line of direct to consumer headworn health sensing offerings, including smart visors, smart hats, and smart helmets.
LifeBeam plans to use the new funds to develop and launch a new direct to consumer wearable device. Although Yoffe said he couldn’t disclose the form factor of the device, he said it was “an innovative and consolidating form factor” that will provide users with a hands-free experience. The device will sync with Apple’s HealthKit platform and Google Fit as well as run on iOS and Android devices.
“The bigger wearable vision is to be able to give people a high awareness experience all day including their fitness activities, their sleep activities, their nutrition activities, maybe relations with their healthcare activities,” Yoffe said. “And provide this holistic approach for a healthier and better life.”
LifeBeam launched one of their earlier direct to consumer offerings, a smart helmet, in 2013 as part of an Indiegogo campaign. The company raised $64,676, surpassing its $50,000 goal. During the campaign the helmet sold for $149, but it now is available on LifeBeam’s website for $199.
Two years ago, Samsung revealed that LifeBeam was one of the 24 commercial partners it was working with as part of its digital health plans.