Misfit Wearables, a Redwood City, CA-based developer of wearable sensor technology and products, raised $15.2m in funding.
Backers included Horizons Ventures and existing investors Founders Fund, Khosla Ventures, Norwest Venture Partners, O’Reilly AlphaTech Ventures, Max Levchin, and incTank Ventures. In conjunction with the funding, Horizons Ventures’ Jason Wong, will join Misfit’s board.
The company, which has raised over $20m to date, intends to use the funds to develop new products expected to be launched in 2014.
Founded in 2011 by by Sonny Vu with John Sculley and Sridhar Iyengar, Misfit recently launched Shine, a physical activity monitor which measures the intensity and duration of physical activity and provides metrics such as steps taken, distance travelled, and estimated calories burned. Accessories include a leather and metal band and a necklace. Along with the physical product, the Shine App allows users to set their personal activity goals and see visual summaries.
Misfit Shine Indiegogo Campaign: http://www.indiegogo.com/projects/misfit-shine-an-elegant-wireless-activity-tracker