Valencell, industry leader in wearable biometric sensor technology who will be speaking and exhibiting at our WT | Wearable Technologies Conference 2018 USA in San Francisco on July 11-12, announced that it has raised $10.5 million in Series E funding, bringing total funding to $35 million.
The investment is led by Sonion a/s, the world leader in micro acoustic technologies and solutions for hearing devices and specialty earphones, with additional participation from existing investors TDF Ventures, GII LLC, and WSJ Joshua Fund. The company said it plans to use the funds to speed up investments in its highly precise biometric sensor technology and expand sales growth.
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“Valencell has an established track record of innovating in wearable biometric sensors and this funding enables us to accelerate our investments in R&D, market development and go-to-market resources,” Michael Dering, CEO of Valencell, said in a statement. “In addition, with Sonion leading the investment round, Valencell gains a powerful strategic partner to bring new capabilities to serve the consumer hearables and hearing health markets. Valencell and Sonion share a strong vision and operating model for making major advancements in hearing health and hearable devices.”
Sonion and Valencell recently announced a strategic partnership that will expand the boundaries for the use of biometric sensors in the ear. In this collaboration Valencell will provide the industry’s most advanced biometric sensor modules for hearables and wearables, which will be optimized Sonion for size, power consumption and cost.
“Sonion is very excited about this opportunity to not only partner with Valencell exclusively for t
he Valencell technology for the ear-level space but also to join the strong investor team in Valencell,” said Jesper Ahlmann Funding Andersen, President & CEO of Sonion a/s.
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Valencell sees global demand for precise biometric sensor technology with remarkable growth in the area of hearing aids and wrist wearables. Worldwide, more than 30 different wearables and hearables have integrated Valencell’s technology. Valencell also boasts the most-cited patent portfolio in wearable PPG, which includes more than 60 granted patents and over 100 additional patents pending.
The market for wearable biometric sensors is expanding rapidly beyond traditional wearables, especially in healthcare, military, industrial safety, and AR/VR devices.
Valencell Inc. is the leading wearable biometric sensor maker in the world, producing the most accurate biometric sensor systems. The Raleigh, NC-based company provides its patent-protected technology to consumer electronics manufacturers, mobile device and accessory makers, medical device makers, sports and fitness brands and gaming companies for integration into their products.