Digital Health Wearable companies received $700 million in 30 funding rounds in the first nine months (9M) of 2020, compared to $312 million in 25 funding rounds in 9M 2019, a 45% increase in the funding amount, according to the Mercom Digital Health Funding and M&A Report.
Most of the funding went to growth-stage Series B and Series C rounds in 9M 2020.
Founders Fund and Khosla Ventures led the digital health wearables funding activity during 9M 2020, with each investing in three rounds. Other investors who made multiple investments include DCM Ventures and Anathem Ventures. Another 90 investors, each made one investment in wearables sensors companies during 9M.
Top 5 Digital Health Wearable Sensors Funding Rounds in 9M 2020
Element Science, a provider of patch-based wearable cardioverter defibrillator that monitors a patient’s heart, raised $145.6 million in a Series C funding round.
Preventice Solutions, the developer of wearable patches that monitor cardiac arrhythmias remotely, raised $137 million in a Series B financing round.
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, bringing the company’s total raised to over $120 million to date.
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.
Willow, the developer of an app-connected smart wearable breast pump, raised an additional $55 million in Series C funding, bringing the total raised to date to $155 million.
More than 1,200 investors have invested almost $4 billion in digital health wearable sensors companies since 2013, according to Mercom digital health funding database. Top wearable sensors investors since 2013 include Oak HC/FT, Optum Ventures, GV (formerly Google Ventures), Khosla Ventures, General Catalyst, Sequoia Capital, UnityPoint Health Ventures, Founders Fund, and Andreessen Horowitz, among others.
