US-based connected baby monitor producer Owlet Baby Care has raised $15m in funding from investors including e-commerce and cloud computing company Amazon, which participated through its Alexa Fund.
The round’s other backers included Eclipse, Eniac Ventures, Trilogy Equity Partners, RTP-HC, Capital Integral and Broadway Angels. It also included a $1.5m grant provided by the US National Institutes of Health (NIH).
Founded in 2013, Owlet Baby Care has created a smart sock that is worn by infants that monitors their oxygen intake and heart rate. The sensor notifies parents through a smartphone app if their child’s oxygen or heart rate falls outside optimal parameters.
The money will go towards an expansion of Owlet’s retail and international distribution and the launch of two additional products. The company will also conduct an infant health study in 2017 with the money provided by NIH.
Owlet has now raised a total of $25m, including $3m in NIH grants. Formation 8 led its $7m series A round in August 2015 with participation from Carpe Diem VC, FF Venture Capital, Eniac, Azimuth Ventures, Life Sciences Angel Network, Peak Ventures and Brand Project.
Owlet’s shareholders also include Toms Social Entrepreneurship Fund, according to the company latest press release, but details about the fund’s commitment have not been revealed.
Steve Rabuchin, vice-president of Amazon Alexa, said: “Owlet is a key component for the connected nursery and we are excited about supporting the company with an investment that helps propel it forward and support its mission.
“We look forward to the future opportunities to integrate Owlet with Alexa, empowering parents with the incredible data and information provided by Owlet.”