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Wearable health monitor developer Quanttus draws $19m Khosla, Matrix Series A

25 Feb 2014

medical monitorKhosla Ventures and Matrix Partners have teamed up to invest $19m through a weighty Series A round for wearable health monitor business Quanttus.

Vinod Khosla, who founded his namesake venture firm, previously led a $3m seed funding round for the company, which said it would use the capital to further develop its clinical vital sign-monitoring technology.

He said, “Quanttus is pushing monitoring into many high value use cases from cardiac disease and hypertension monitoring to stress.

“The team’s approach to using real-time physiological data will create powerful new tools for consumers and healthcare providers that will change how we understand our health.”

Quanttus’ platform is based on wearable technologies which can capture and analyse more than half a million vital sign data points each day, before translating those into real-time data to help people make choices about their health.

Matrix general partner Stan Reiss said, “There is a lot of excitement around wearables, but what makes Quanttus different is the sophistication of its technology.

“Quanttus was developed for a specific purpose by a very serious technical and design team out of MIT.

“It is not a reaction to a trend but rather combines groundbreaking research with meaningful data in an elegant form factor.”

Last August a gang of venture capital investors boosted digital fitness tracker Fitbit’s funding to $96m by backing a $43m financing round for the company.

Qualcomm Ventures, Softbank Capital and SAP Ventures all made new investment in the business through the round alongside existing backers True Ventures and Foundry Group.

Fitbit is part of a rising tide of startups creating wearable devices to monitor fitness, with the company’s pedometer designed to track the number of steps taken and relay the data and analytics to the user’s smartphone.

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