Canada-based smart clothing technology developer OMsignal has raised $10m in a series A round led by Bessemer Venture Partners, the venture capital firm that grew out of steel magnate Henry Phipp’s holding company, which also featured supply chain technology producer Flextronics.
The round also included existing investors Real Ventures, Mistral Venture Partners, Golden Venture Partners, David Cohen and Primera Capital. Launched in 2011, OMsignal previously secured $1m in a June 2013 seed round.
OMsignal’s Biometric Smartwear tracks the wearer’s performance, health and fitness via health sensors embedded into the fabric. The data is then sent to and evaluated by a dedicated mobile app in real-time, in order to give the user total insight into their health.
The company will use the funding to scale the company and advance its technology.