LVL Technologies Inks $6.75M Series A Funding
AUSTIN, TX, Company developing proprietary sensor platforms for wearables, has today announced a $6.75m Series A financing round led by the Samsung Catalyst Fund.
LVL Technologies, Inc., a company developing proprietary sensor platforms for wearables, has today announced a $6.75m Series A financing round led by the Samsung Catalyst Fund with participation from Maxim Integrated Products, Inc., and other investors in the wearable technology and manufacturing industries. The Samsung Catalyst Fund and the round's other participants were chosen for their innovation in digital health, leadership in wearables, expertise in design and manufacturing, and expansive consumer electronics supply chains.
Formerly known as BSX Athletics, LVL Technologies has developed a unique sensor platform to measure the body's most critical vital signs, including for the first time ever, hydration.
"Water is such a critical part of who we all are," said Dr. Dustin Freckleton, founder and CEO of LVL Technologies. "Our bodies are made up mostly of water and yet our internal thirst drive does a surprisingly poor job of helping us stay properly hydrated. This is manifested in numerous ways, from headaches, to joint pain, impaired exercise performance, lowered mental clarity and so much more. All of these can be improved by better hydration habits."
Accurate measurement of hydration is one of the most important use cases for wearables and preventative health at all ages, particularly in the elderly and young, who are most at risk.
"Hydration is important to anyone who sweats," notes Freckleton. "It doesn't matter if you're a sports enthusiast, military service member, first responder, outdoor laborer, or simply care about weight management and living healthier."
Past attempts at measuring hydration have fallen short, and the unique approach of LVL Technologies is the first validated method for accurate, continuous hydration measurements in an untethered wearable. The company will use the funding to accelerate the production and manufacturing of its second consumer product, a wrist-worn band called LVL One, which simultaneously measures hydration along with heart rate and other key metrics.
LVL Technologies' first product, called Insight, was released in 2014 and is the world's first non-invasive lactate threshold sensor, and currently used by U.S. Olympic teams and endurance athletes at all levels.
"At Samsung, we've long believed that wearables will help usher in the next wave of innovation in digital health," said Shankar Chandran, Managing Director and Head of the Samsung Catalyst Fund. "By measuring important data on hydration - which has eluded the industry for years - LVL Technologies has demonstrated the vast potential of wearables technology, and the impact it can have on consumers' lives. As a leader in the wearables space, we at Samsung are thrilled to partner with a company that will help us push the boundaries of this technology even further."
More information can be found at onelvl.com.
About LVL Technologies, Inc.
LVL Technologies, Inc. was founded by Dr. Dustin Freckleton and Nithin Rajan with a mission of bringing the accuracy of medical device technologies to the consumer wearables market through a combination of proprietary sensors and advanced machine learning algorithms. LVL Technologies is headquartered in Austin, TX.
About the Samsung Catalyst Fund
The Samsung Catalyst Fund (SCF) is Samsung Electronics' evergreen early stage venture capital fund supporting Automotive, Robotics, Digital Health, Internet of Things, Artificial Intelligence, Cloud Infrastructure, and Device-Level Solutions. Through SCF, entrepreneurs are enabled by Samsung's global brand, manufacturing and distribution, domain expertise, recruiting network, and world-class Innovation Fellows for advice and mentorship. For more information, please visit samsungcatalystfund.com.
About Maxim Integrated
Maxim Integrated empowers design innovation by developing innovative analog and mixed-signal products and technologies to make systems smaller and smarter, with enhanced security and increased energy efficiency. Through its venture group called Maxim Ventures it invests in new businesses that are "beyond the chip." We leverage Maxim's enabling sensor and integrated circuit technologies and use that know-how as the basis to help build companies that extend up the data-flow value chain into equipment, systems, software and services. Visit us at http://www.maximventures.com.
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