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Lumo Eyes Wearables Partnerships And Raises $10M

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.

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