LifeBeam Secures $16M Funding to Advance Hands-Free Wearable Integrated with Apple HealthKit and Google Fit

LifeBeam, a New York-based company whose products are sensor-based wearable devices, has raised $16 million in its latest funding round. The round was led by Squarepeg Capital, with participation from Wellborn VC, Cerca Partners, Atomic14 VC, and Triventures VC. To date, the company has raised a total of $19 million.

Numerous partners, including national agencies and the world’s top enterprises

LifeBeam was founded in 2012, with its initial project focused on developing wearable biosensors for the aerospace industry. The company’s major clients include NASA and the U.S. Department of the Air Force.

Later, LifeBeam began developing embedded sensor devices for wearables, with clients including South Korea’s Samsung and the U.S.-based Under Armour. Meanwhile, LifeBeam also maintained a direct-to-consumer product line, offering items such as smart helmets and smart hats.
New-generation products offer users greater convenience

The company plans to use the funding to develop a new wearable device that will be sold directly to consumers. Yoffe, CEO of LifeBeam, stated that while he would not disclose details about the new device, one thing is certain: the new product will introduce innovations built upon upgrades to its existing offerings. A significant change is that the new product will not require manual operation by users, allowing for a hands-free experience. Meanwhile, the device will integrate with Apple’s and Google’s health platforms, enabling users to access it on both iOS and Android systems.

“The upgraded version enables people to pay more attention to their daily sleep, nutrition, and medical activities,” said Yoffe. “Our product provides a viable pathway for people to live better lives.”


Launched on a crowdfunding platform, with strong sales performance

In 2013, Lifebeam launched its smart helmet on the Indiegogo crowdfunding platform, raising a total of $64,676, surpassing its $50,000 funding goal. During the campaign, the smart helmet was priced at $149 per unit; it is currently sold for $199 per unit on Lifebeam’s official website.

Meanwhile, in 2014, Samsung included LifeBeam among its 24 partners in the digital health sector.

Compiled by Deng Xueyuan