Digital Health Wearable companies received $815 million in 32 venture funding rounds in 2020, compared to $457 million in 35 funding rounds in 2019, a 78% increase, according to the latest Mercom Digital Health Funding and M&A Report.
Most of the funding went to growth-stage Series B and Series C rounds in 2020.
Founders Fund and Khosla Ventures led the wearables sensors funding activity during 2020, with each investing in three funding rounds. Other investors who made multiple investments include DCM Ventures and Anathem Ventures. Another 100 investors, each made one investment in wearables sensors companies during 2020.
Hinge Health, a developer of wearable bands with motion sensors that help employees recuperate from musculoskeletal problems such as the lower back, knee, shoulder, and neck pain, raised $90 million in Series C funding. Including the C round, Hinge Health has raised over $120 million to date.
WHOOP, the creator of an app-connected smart wearable strap that tracks fitness activities, providing a multitude of performance metrics and other data, has closed a $100 million Series E financing at a $1.2 billion valuation.
Hinge Health, a developer of wearable bands with motion sensors that help employees recuperate from musculoskeletal problems such as the lower back, knee, shoulder, and neck pain, raised $90 million in Series C funding.
Withings, a designer of smartwatches and medical-grade connected devices, announced a $60 million Series B funding round, bringing the company’s raised total to almost $100 million. Founded in 2012, WHOOP has raised more than $200 million to date.
More than 1,000 investors have invested $4 billion in digital health wearable sensors companies since 2013, according to Mercom’s digital health funding database.
Top wearable sensors investors since 2013 include GV (formerly Google Ventures), Khosla Ventures, Oak HC/FT, Optum Ventures, General Catalyst, Sequoia Capital, UnityPoint Health Ventures, Founders Fund, and Andreessen Horowitz, among others.