Owlet Baby Care, a US-based advanced baby monitor producer backed by e-commerce firm Amazon, completed a $24m series B round on Tuesday that was led by Trilogy Equity Partners.
Venture capital firm Trilogy was joined in the round by Eclipse Ventures, Broadway Angels, Enfield Ventures and Pelion Venture Partners, and its managing director, Amy McCullough, will join Owlet’s board of directors in connection with its investment.
Owlet’s core product is a smart sock that uses pulse oximetry technology to monitor an infant’s heart rate and oxygen levels while they are asleep. It has also built a software platform that analyses biometric information collected by the device on behalf of parents.
The series B funds will support the release of two new products later this year as well as international growth. Owlet has now raised a total of $49m in equity and grant funding since being founded in 2013.
Amazon’s Alexa Fund backed the company’s last round, in which it raised $15m in late 2016, alongside Trilogy Equity Partners, Broadway Angels, Eclipse, Eniac Ventures, RTP-HC, Capital Integral and a $1.5m grant from the US National Institutes of Health (NIH).
Kurt Workman, co-founder and chief executive of Owlet Baby Care, said: “As a company of parents, it is important to us to bring innovative technology into a family’s everyday life.
“This new round of funding will enable us to expand our product line, looking at ways we can support the health and wellness of families at all stages, from pregnancy on, as well as increase the brand’s availability internationally and improve our accessibility and affordability.”
– Image courtesy of Owlet Baby Care.