LifeBeam secures $16m funding to launch fitness wearable
April 4, 2016
New York based fitness wearables company LifeBeam has completed a $16m funding round led by Squarepeg Capital with participation from Wellborn VC, Cerca Partners, Atomic14 VC, Triventures VC and a number of angel investors.
This round of funding will let the company expand its positioning within the fast-growing wearables category with its Awareables fitness and wellness experience. The company's upcoming Awareable product integrates accurate biometrics and a personal training agent, giving consumers an intelligent and interactive training experience for fitness and everyday well-being.
The company began in 2011 by developing wearable biosensing technologies and feedback systems for clients such as Nasa and the US Air Force. Its proprietary technology, hardware, analytics and software have been saving the lives of pilots and astronauts and enabling technology products made by brands such as Samsung, Under Armour, JBL, 2XU, Lazer Helmets, and Elbit Aerospace, all in the pursuit of measuring human performance and generating actionable insights at the highest levels.
"This is another significant milestone to help us fully accomplish our Awareable vision," said Omri Yoffe, CEO of LifeBeam. “Our new product is designed to provide consumers with the most personalised and insight-driven workout experiences. This funding round will allow us to expand our consumer product roadmap, inspired by our core product and technology foundations and our team's passion for bringing a healthier lifestyle to the masses."
LifeBeam is set to launch its first Awareable product this spring on Kickstarter.
"The wearable industry is still in its infancy," said Philippe Schwartz, managing partner of Squarepeg Capital. “Its future lies in a more intimate, personal user interface and experience, one that is as natural and fluid as working out with a trainer or a friend. The LifeBeam team has taken its impressive track record of success with the most innovative consumer brands, to create a breakthrough new product. Their hard work around hardware excellence, data analytics and experience personalisation has paid dividends in this new releases."
The company is based in New York City, with R&D centres in Israel, Los Angeles and Asia.