China-based Sleepace raises $7M for sleep tracking device

By Aditi Pai

SleepaceChina-based Sleepace, which has developed a sleep tracking device, raised $7 million in a round led by retail chain Luolai Home Textile with participation from ecommerce giant, according to a report in TechInAsia. This brings the company’s total funding to $10 million to date.

Sleepace’s device, called RestOn, is a thin strip that is attached to a mattress, similar to Finland-based Beddit's device. RestOn tracks sleep time, heart rate, respiratory rate, body movement, and sleep cycles. Based on the data it collects, the device sends performance analysis reports to the companion app to help the user understand their sleep. Users can also add multiple accounts to the app to manage different family members’ sleep habits.

The device costs $149 and it can be shipped to the US., one of Sleepace’s investors, previously invested in Misfit, maker of the activity tracking devices Shine, Flash, and Flash Link. Misfit co-founder and CEO Sonny Vu told MobiHealthNews at the time of the investment that, which Vu compared to Amazon, would help Misfit better understand the Chinese market and help it to develop and launch products more quickly.

A similar device to RestOn, called Beddit, partnered with Misfit last year. Through this partnership, customers can purchase a co-branded Beddit device from Misfit’s website, and the tracker will be integrated into the Misfit Shine app. Toward the end of last year, Beddit announced that its Beddit Sleep Monitor was available in 1,000 Bed, Bath and Beyond stores across the US.