Basis Science, a US-based healthcare device maker which makes the Basis, a wristband health tracker and online dashboard designed to improve fitness and sleep, has raised a further $11.75m in a series B funding round which included investment from Intel Capital, the strategic investment arm of microprocessor maker Intel, iNovia Capital, Dolby Family Trust, Stanford University and Peninsula-KCG. Existing investors Mayfield Fund, DCM and Norwest Venture Partners, also participated.
The new investment closes Basis’ series B financing, which now totals more than $23m. Previously, Basis Science raised $9m in 2011 from Norwest Venture Partners and DCM.
Basis has also expanded its product team with the hire of vice president of product, Ethan Fassett. Most recently, Fassett was an entrepreneur in residence at Trinity Ventures. Previously, he served as senior vice president of product for Gree International, where he led development of its mobile social gaming platform in the US market.
Arvind Sodhani, president of Intel Capital, said: “Wearable computing enables a data-driven approach to managing healthcare and fitness. By collecting heart rate, skin and ambient temperature data along with movement tracking, the Basis multi-sensor band opens up opportunities for data analytics driving deeper insights into health and personal behavior.”
Jef Holove, chief executive officer, Basis, said: “We now capture billions of heart beats each week and our users remain more engaged with our system versus other options in the category. With this new support, we’ll be able to continue to build on our strong foundation and offer a great experience for many more people looking to build healthy habits.”