Nokia Growth Partners (NGP), the early-stage investment arm of communications equipment maker Nokia, has led a $10m series B round for Sweden-based health and fitness tracker developer Lifesum, TechCrunch reported on Monday.
Media company Bauer Media Group also participated in the round, as did venture capital firm Draper Esprit and SparkLabs Global Ventures, the seed-stage fund formed by Korea-headquartered accelerator SparkLabs.
Lifesum has built a mobile app that can track what a user eats and how they exercise, while providing tips to improve health. The company has accumulated 15 million users, mostly in Europe, but it plans to spend the capital on global expansion, particularly in the US.
Henrik Torstensson, Lifesum’s CEO, told TechCrunch: “I especially consider the NGP Silicon Valley office to be a resource that we can start leveraging immediately since the US is becoming more and more significant to Lifesum.”
The round follows Lifesum’s $6.7m series A round, which was co-led by Bauer Media and SparkLabs Global in April 2014.