Valencell, a biometric sensor developer seeking to improve the accuracy of fitness tracking and other wearables, has raised a fresh round of capital, according to a Form D filing with the U.S. Securities and Exchange Commission. The financing comes a little more than six months after it secured approval for a clutch of patent applications.
Valencell raised $2.64 million in a combination of equity and debt from five investors, according to the filing. Valencell co-founder and president Steven LeBoeuf could not immediately be reached for comment.
Last year the company raised $7 million as part of a Series C round, bringing its total funding to $14 million. Among its investors are TDF Ventures. True Ventures, and WSJ Joshua Fund.
The company collaborates with license partners to measure the
reliability, performance and accuracy of wearable products powered by its technology, according to a company statement.
Valencell got a greenlight on eight patent applications in February. They will be used to support its PerformTek biometric sensor technology to track and measure biometric data “on anyone, doing anything, anywhere on the body,” according to its website.
Among the patent approvals Valencell received in February included a way of using light as a tool to filter out noise and to help generate physiological parameters for users for heart rate, blood flow and blood pressure. Another covers a photoplethysmography sensor — as an alternative to ECG to monitor heart rate.
LeBoeuf said its new patents will help make monitoring calorie burn much more accurate, because energy expenditure can be assessed without footsteps.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Last month, Valencell joined industry group National Sleep Foundations’ sleep technology council to collaborate with the likes of Beddit, Emfit, Jawbone, MetroNaps, MisFit Wearables, and Responsive Surface Technology to develop insights and innovations in sleep technology.
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