LifeBEAM Secures $16 Million to Support Its Awareable(TM) Vision and Expansion Into Consumer Wearable Market
After Successfully Powering Iconic Consumer Brands, LifeBEAM Is Developing a New Generation of Wearable Products
NEW YORK, N.Y., March 24, 2016-- LifeBEAM, a global leader in wearable technology, today announced the closing of a $16 million funding round, led by Squarepeg Capital with participation from Wellborn VC, Cerca Partners, Atomic14 VC, Triventures VC and a number of key angel investors. This round of funding will allow LifeBEAM to expand its positioning within the fast-growing wearables category with a quantum leap the company calls "Awareables™," creating an entirely new fitness and wellness experience. The company's upcoming Awareable™ product, integrates highly accurate biometrics and a personal training agent, giving consumers an intelligent and interactive training experience for fitness and everyday well-being.
LifeBEAM 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. Our new product is designed to provide consumers with the most personalized and insight-driven workout experiences," said Omri Yoffe, Co-Founder & CEO of LifeBEAM. "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."
"The wearable industry is still in its infancy. 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," said Philippe Schwartz, Managing Partner of Squarepeg Capital. "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 personalization has paid dividends in this new releases."
LifeBEAM is set to launch its first Awareable™ product this spring on Kickstarter. To find out more about LifeBEAM and its upcoming product launches, visit http://life-beam.com or preview its fall product launch at http://vi.life-beam.com/.
A pioneer in wearable technology hardware, analytics and software, LifeBEAM makes the world's most advanced wearable instruments for measuring human performance and providing actionable insights. The company is based in New York City, with R&D centers in Israel, Los Angeles and Asia. For more information, visit www.life-beam.com/shop.
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