Lumo Bodytech Raises $10M

Lumo Bodytech a Palo Alto, California based startup that offers posture and activity tracking devices, has recently raised $10 million in a round led by WuXi Healthcare Ventures. Existing investors Madrona Venture Group, Innovation Endeavors, AME Cloud Ventures, and Innovalue Capital also participated in the round.

This $10 million brings the company’s total funding till date to $16 million out of which $2 million come from crowdfunding campaigns.

Lumo, founded in 2011, launched it first device (a posture-sensing wearable that was worn on the lower back) with a Kickstarter crowdfunding campaign earlier that year and the last funding round was in 2012. Then Lumo launched its second offering, a smaller, posture sensor (Lumo Lift) in e early 2014.

lumo-bodytech-raises-10m

Lumo is reported to utilize the recently generated funds to support its new b2b offering, Lumo Platform, which is a white-labeled version of Lumo’s tech available to apparel, fitness, health, and workplace safety industries.

Businesses interested in Lumo’s products can pick and choose from a variety of the company’s offerings, including storage and predictive analytics; the Lumo Kit API, which connects data from hardware to the cloud; Lumo’s algorithms, which measure biomechanical movement; and Lumo’s hardware.

Lumo though getting more into B2B market is still have majore focus in direct-to-consumer roots and a new wearable, Lumo Run which company launched a couple of weeks back is one such example.

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