Misfit Wearables, a US-based wearable computing company which makes Shine, an activity monitoring and motivation device, has raised $15.2m series B financing led by Hong Kong-based venture capital firm Horizons Ventures; existing investors, O’Reilly AlphaTech Ventures (OATV), a corporate venturing fund backed by O’Reilly Media, Founders Fund, Khosla Ventures, Norwest Venture Partners, Max Levchin and incTANK, also participated in the round, along with new investors The Coca-Cola Company, Translink Capital, TenOneTen Ventures, Atom Factory and Nick D’Aloisio.
Horizons Ventures’ chief executive officer (CEO), Jason Wong, joins Misfit’s board. The funding will support growth and the commercialization of products currently being developed.
Previously, Misfit raised $7.8m in a series B round closed in April 2012.
Sonny Vu, Misfit’s CEO, said: “We have a bold vision for the future of wearables, for making them desirable, accessible, and deliver on great use cases. The funding and new partners we have will be essential in helping us achieve these goals,” said
Misfit Wearables was founded in 2011 by Sonny Vu with John Sculley, former CEO of Apple and Pepsi, and Sridhar Iyengar, co-founder of AgaMatrix.