A tech company that made its name on posture is standing a little taller itself, thanks to a a new round of financing.
Lumo Bodytech, the makers of the fitness tracker-imbued “smart shorts” Lumo Run — and, before that, the Lumo Lift wearable posture aid — announced yesterday (Nov. 3) that it has raised $10 million in Series B funding to launch the first wearables platform for measuring biomechanics.
Called Lumo Bodytech Biomechanics Wearables, the platform is said to combine hardware, software and data that will enable partners — companies in the apparel, fitness, health and workplace safety industries — to integrate human body movements into their own wearable tech offerings.
“We’re now entering the next phase of the wearables industry, one where companies like Lumo harness lab-quality data and real-time coaching to solve meaningful health problems and support behavior change,” Lumo Bodytech CEO and Cofounder Monisha Perkash stated in a press release. “With the support of our new investors, including WuXi, a leader in research and development in health care applications, we can deliver a wearables platform that will ultimately help people address significant health, wellness and performance issues.”
Ge Li, CEO of WuXi AppTec, also commented in the release, saying: “Wearables technology will fundamentally change the traditional health care industry and address a number of previously unmet wellness needs. People are looking for technology to support positive, proactive behavior change through advanced insights, including real-time feedback and coaching. Lumo is a platform for better health and living, whether that’s at home, in the office or at the gym.”
WuXi Healthcare Ventures led the Series B round of funding and was joined by previous investors Madrona Venture Group, Innovation Endeavors, AME Cloud Ventures and Innovalue Capital Ltd.
To check out what else is HOT in the world of payments, click here.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More