Valencell, a Raleigh-based startup focused on mobile health and fitness technology, not only has $5.5 million in the bank as part of a new deal but has also landed a high-profile investor.
Best Buy Capital, the investment arm of electronics giant Best Buy, is the leader of a new round of venture investing in Valencell.
Back as second-round investors are TDF and True Ventures.
Launched in 2006, Valencell previously raised a $1 million “A” round and also has landed some $3 million in grants and research funded.
The company’s Healthset products are earbuds that monitor health and fitness of the wearer. Data is forwarded to smartphones or MP3 players either through wired or wireless links even as the user is enjoying music or is using a smartphone or mobile device.
Data tracked include: heart rate, calories burned, steps taken, distance traveled, speed and more.
“People everywhere are listening to music while running and exercising,“ said Dr. Steven LeBoeuf, a co-founder of the company and its chief executive officer. “Integrating heart rate sensors directly and seamlessly into music earbuds fits right into the behavior of consumers today. Everyone’s body responds differently to exercise, so being able to monitor the heart, the body’s engine, will help consumers customize and personalize workout regiments for their specific goals whether it’s for weight loss, toning or endurance. Users will be able to view their metrics live through fitness applications on their iPhone, Android phones, other mobile devices and online.”
The new funding will be used to expand the Valencell team as well as to “increase the number of licensing deals with strategic partners, and accelerate the product pipeline to include additional physiological monitoring capabilities,” the company said in a statement.
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