Sleep monitoring specialist Beddit announced the closing of its latest financing round with Inventure, a leading Nordic early-stage venture capital firm, who joins the company as a new investor. Beddit's funding now totals $8m, with the latest round enabling the company to strengthen the presence and distribution of its non-intrusive sleep monitor to US and European retailers for the holiday shopping season.
Beddit debuted its consumer-grade sleep monitor with a record-breaking Indiegogo campaign, and recently partnered with Misfit Wearables to launch the Misfit Beddit Sleep System. Currently Beddit has signed agreements with a US nationwide reseller and strong partners in key European markets.
Beddit Sleep Monitor is an ultra-thin film sensor placed under the bed sheet. Beddit’s highly sensitive force sensor measures the user’s resting heart rate, respiratory rate and movement during sleep – all done without attaching sensors or touching the body.
Beddit sends the sleep data over Bluetooth to a companion app on a smartphone where the data is analyzed using sophisticated algorithms based on ballistocardiography (BCG). Each morning Beddit’s mobile app presents a sleep analysis and coaching tips on how to improve sleep.
"While helping out stressed and restless people to sleep and feel better, we’re looking at improving the understanding of the key factors affecting a good night’s sleep," said Lasse Leppakorpi, CEO, Beddit. "The funding enables us to reach wider audiences through a stronger distribution network, with a target of nationwide US availability by Christmas. In addition, we’ll continue improving our service to offer the best consumer experience available."
"Beddit is a forerunner in next generation sleep monitoring services, providing the user with actionable insights and supporting them with better decision-making," says Ilkka Kivimaki, Partner at Inventure. "Thanks to its natural user experience and useful recommendations, we strongly believe that Beddit is the winning concept in the race from the quantified self innovation space to retail success."