StretchSense, an Auckland, New Zealand-based wearable sensor company, secured a Series A funding round of undisclosed amount.
Japanese corporation Start Today Co., Ltd. (3092:Tokyo), which owns Zozotown, a Japanese online retailer of apparel and accessories, and wear.jp, a Japanese fashion coordination app, made the investment.
The company intends to use the funds to upgrade its pilot production and R&D capabilities in New Zealand, and to expand its marketing, sales, and support capability offshore.
Led by CEO Ben O’Brien, StretchSense is a manufacturer of soft stretchy sensors and generators for wearables for sporting, AR/VR, animation, and healthcare applications. The company, which sells to over 200 customers in 28 countries, is a spinout from the Auckland Bioengineering Institute’s Biomimetics Lab.
It previously raised funds from the Flying Kiwi Angels and the New Zealand Venture Investment Fund.
FinSMEs
29/06/2016