Beddit, an Espoo, Finland-based provider of a sleep monitoring device, closed an $8m round of funding.
New investor Inventure joined as a new investor.
The company intends to use the funds to strengthen the presence and distribution of its monitor to US and European retailers for the holiday shopping season.
Founded in 2006 and led by Lasse Leppakorpi, CEO, Beddit develops and markets products and applications for sleep and wellness monitoring.
Its consumer-grade sleep monitor, which debuted with an Indiegogo campaign, is an ultra-thin film sensor placed under the bed sheet to measure the user’s resting heart rate, respiratory rate and movement during sleep. It sends the sleep data over Bluetooth to an app on a smartphone where the data is analyzed using algorithms based on ballistocardiography (BCG). Each morning the mobile app presents a sleep analysis and coaching tips on how to improve sleep. The company recently partnered with Misfit Wearables to launch the Misfit Beddit Sleep System and has signed agreements with a US nationwide reseller and partners in key European markets.