Valencell Secures $10.5M in Series E Funding
RALEIGH, N.C., June 13, 2018 /PRNewswire-PRWeb/ -- Valencell, the leading innovator in wearable biometric sensor technology, today announced it has secured $10.5M in Series E financing. The investment is led by Sonion a/s, the global leader in micro acoustic and micro mechanical technologies and solutions for hearing instruments and specialty earphones, with additional participation from existing investors TDF Ventures, GII LLC, and WSJ Joshua Fund. Valencell plans to use the funds to accelerate investments in its highly accurate biometric sensor technology and expand sales growth. This brings the total amount of funding raised to date to $35 million.
"Sonion is very excited about this opportunity to not only partner with Valencell exclusively for the 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. "We see strong growth opportunities for this collaboration as we combine the Valencell technology and roadmap of exciting biometrics including more advanced medical monitoring functionalities with our 40 years+ of experience and skills in micro-acoustics, micro-mechanics and power management."
Sonion and Valencell recently announced a strategic partnership to make biometrics universal in the hearables and hearing health markets.
Valencell continues to see global demand for highly accurate biometric sensor technology with significant growth in hearing aids, hearables and wrist wearables. Valencell's technology has now been integrated into more than 30 different wearables and hearables that have come to market around the world. Valencell also has the most-cited patent portfolio in wearable PPG, which includes over 60 granted patents and more than 100 additional patents pending.
The market for wearable biometric sensors continues to rapidly expand beyond traditional consumer wearables devices, particularly in health and medical devices, military and industrial safety, and AR/VR devices and use cases.
"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," said Michael Dering, CEO, Valencell. "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."
About Valencell
Valencell produces the most accurate wearable biometric sensor systems in the world and provides this 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. Protected by more than 60 granted patents and more than 100 patents pending, Valencell's technology can be used in wearables and hearables for virtually anyone, anywhere, doing anything. Their technology is scalable to multiple form-factors such as earbuds, smartwatches, armbands and wrist devices and is currently integrated into more biometric wearable devices than any other technology provider in the world.
Valencell Media Contact:
Ryan Kraudel
VP Marketing at Valencell
Kraudel@valencell.com
919-747-3668×3050
SOURCE Valencell
