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Withings raises US$60m to develop next generation of tracking devices

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French electronics company Withings has announced a US$60 million Series B funding round.

Withings says it will invest funds to globally scale its business-to-business division Withings MED PRO and accelerate the development of the next generation of consumer health devices that bring medical grade and predictive capabilities into the home.

It also plans to add 100 new positions in the United States and France by the end of the year to build its teams working on research and development, sales, and marketing.

Withings is known for producing connected non-invasive health devices, such as scales and analog watches, which capture health parameters including blood pressure, ECG, weight, pulse wave velocity, heart rate, activity levels, sleep apnoea, and sleep patterns.

Withings launched MED PRO in 2019 to make their products available to medical professionals, institutions, disease management programs, coaching platforms and researchers.

The business-to-business division of the company provides remote patient and telemedicine services for health programs that manage chronic diseases such as diabetes, hypertension, heart health, sleep, and weight management.

The company’s devices are also used in academic research and is currently involved with a research initiative at Ludwig-Maximilians University of Munich. Researchers are integrating one of the company’s watches into a COVID-19 patient monitoring project to track blood oxygen saturation and heart rhythm.

Mathieu Letombe, CEO of Withings said: “This is an important milestone for Withings. We have combined technology and medical science during the past ten years to create an unrivaled portfolio of devices that continually and accurately measure a vast array of health parameters.”

“With the healthcare industry increasingly embracing this technology and data, it has enthusiastically turned to Withings as a natural partner.”

“Our devices enjoy some of the highest retention levels, cover more health vitals and work with more operating platforms than any other player in the business. The new influx of funding and medical expertise will help us bring even more exciting solutions to the market, making the possibilities for the next ten years boundless.”

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