Israeli startup Sensifree, which is developing low power, contact free, electromagnetic sensors that accurately collect a range of continuous biometric data without the need to touch the human body, has completed a $5 million Series A financing round. TransLink Capital led the investment with participation from existing and new investors, including UMC Capital, a subsidiary of United Microelectronics Corp. (NYSE: UMC) and an undisclosed strategic investor.
The investment adds to seed investment made by Samsung’s Catalyst fund and brings Sensifree’s total funding since launching its revolutionary RF-based biometric sensor technology to $7 million. The funding will help the company aggressively expand its engineering and product development teams, and accelerate its business development efforts. TransLink Capital Venture Partner and Senior Advisor, Eric Hsia, will join the Sensifree board.
With offices in Petah Tikva and Cupertino California, Sensifree was founded by CEO Eran Agmon and CTO Ilan Barak.
Sensifree brings a technology breakthrough to the fast growing wearable and digital health markets, aiming to provide a better alternative to decades-old sensor technologies, with its patent pending RF-based technology. The Company’s first product is a contactless heart rate sensor for wearable devices for applications such as traditional watches, fitness trackers and smart clothing.
Agmon said, “Sensifree’s disruptive sensor technology marks the future of biometric sensing. We developed this technology specifically with wearables and smart clothing applications in mind, concentrating on enhancing overall user experience. We recognized the desire of both fashion brands and consumers to embrace advanced features while maintaining traditional brand values. Our low-power, contact-free technology helps achieve this. In parallel, we are leveraging our core technology to develop the “holy grail” of sensors - a cuff-free blood pressure sensor and we expect to demonstrate preliminary results this year."
“Sensifree’s innovative technology enables the next-generation of purpose-built, wearable sensor technologies, optimizing biometric function and accuracy while also minimizing power consumption,” said Eric Hsia of Translink Capital. “We believe the market is seeking and will embrace Sensifree’s solutions as wearable companies from traditional watch makers to activity trackers to clothing designers look to design breakthrough, differentiated products for their customers."
Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016