Valencell Raises $2.6 Million To Expand Health Sensor Platform

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Raleigh, NC-based fitness tracker startup Valencell raises $2.6 million in fresh capital in the form of both debt and equity-backed funding from five undisclosed investors. Valencell designs and manufactures a line of sensors called PerformTek biometric sensor technologies, used in a wide variety of fitness trackers. While Valencell does not manufacture its own direct-to-consumer products, its sensors are used in both LG and Jabra’s heart rate monitoring ear buds, and Atlas’s Advanced Exercise Detection wristband. Valencell reports that its technology is used to power smart ear buds, armbands, and wristbands. The new round follows a $7 million Series C that was closed in 2014, and brings its total funding to $14 million. The company counts Best Buy Capital, True Ventures, and TDF Ventures among its earlier investors.

Earlier this year, Valencell secured eight new patents describing its various physiological monitoring methods. At the same time, the company announced that it would begin the process of expanding beyond the fitness tracker market, initially working to identify potential opportunities for its sensors in gaming and military applications. In August, Valencell also joined a technology initiative being launched by the National Sleep Foundation focused on bringing new sleep monitoring technologies to market that have the potential to expand our overall understanding of sleep health. “Using accurate, wearable biometric sensor technology to better understand sleep patterns will help us translate heart rate, respiration rate, and activity context data into actionable insights that will not only improve our scientific knowledge of sleep, but will also help us develop new methods of improving sleep and overall health,” explains Valencell Co-founder and President Steven Leboeuf, MD.

With momentum on its side, the timing was right for a new funding round. However, one would have expected a larger round than the $2.6 million raised considering that the team plans to add sleep tracking developments to its portfolio and break into multiple new industries in the coming year. 


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