Digital Health Wearable companies raised $355 million in venture capital in Q1 2021, compared to $286 million in Q1 2020, a 24% increase year-over-year (YoY), according to the latest Mercom Digital Health Funding and M&A Report.
The growth-stage rounds Series B and Series C attracted most of the funding in Q1 2021. Prominent investors who participated in the funding rounds include Tiger Global, Bessemer Venture Partners, Founders Fund, and Khosla Ventures.
The wearable sensor companies funded in Q1 2021 track various health conditions like Sleep, Chronic Pain, Heart Rate, Respiratory Rate, among others.
According to International Data Corporation, worldwide shipments of wearable devices reached 153.5 million in the fourth quarter of 2020, a YoY increase of 27.2%, and shipments for the full year grew 28.4% to 444.7 million units.
Top Digital Health Wearable Sensors Funding Rounds in Q1 2021
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 – closed a $310 million Series D funding round.
Sword Health, a digital musculoskeletal care startup, raised $25 million in a Series B funding round.
Bryte, a maker of AI-powered smart mattresses, raised $24 million in Series A funding.
More than 1,000 investors have invested $4.2 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.