Biometric wearables specialist Valencell has raised $11 million in its Series D round of funding, the company has announced. With participation from previous investors TDF Ventures and WSJ Joshua Fund, the latest round of financing was led by UAE-based GII Tech.
It’s a sign of the growing excitement over the wearables market, whose growth has been heralded by the likes of the Tractica market research firm, which itself started a Wearable Devices Advisory Service last spring. Commenting on GII’s investment, CEO Pankaj Gupta asserted, “Biometric sensors are becoming ‘must-have’ features in wearable and hearable devices of all kinds, and the market demand for these devices is skyrocketing,” and lauded Valencell for its “continued innovation” in the area.
Valencell has shown strong growth alongside the wearables market, showing a 133 percent increase in licensing partners last year over 2014. The company has lately been launching new offerings such as its BioPack platform for wearables developers, and recently promoted its solutions at this year’s Consumer Electronics Show.
“The market is now recognizing the value of accuracy in biometric wearables that Valencell provides,” said Valencell CEO Michael Dering, “and the funding led by GII Tech will enable us to fuel our growth with additional investments in R&D, business development and go-to-market resources.”