Sensifree Secures $5M in Series A Financing Led by TransLink Capital
Cupertino, CA and Petach-Tikva, Israel May 24, 2016 — Sensifree, the pioneer in low power, contact free, electromagnetic sensors that accurately collect a range of continuous biometric data without the need to touch the human body, today announced it has completed a $5.0 million Series A round of financing. TransLink Capital led the investment round with participation from existing and new investors, including UMC Capital, a subsidiary of United Microelectronics Corp. (NYSE: UMC) and an undisclosed strategic investor.
The investment adds to seed investment made by Samsung’s Catalyst fund and brings Sensifree’s total funding since launching its revolutionary RF-based biometric sensor technology to $7 million. The funding will help the company aggressively expand its engineering and product development teams, and accelerate its business development efforts. TransLink Capital Venture Partner and Senior Advisor, Eric Hsia, will join the Sensifree Board of Directors.
Sensifree brings a technology breakthrough to the fast growing wearable and digital health markets, aiming to provide a better alternative to decades-old sensor technologies, with its patent pending RF-based technology. The Company’s first product is a contactless heart rate sensor for wearable devices for applications such as traditional watches, fitness trackers and smart clothing.
“Sensifree’s disruptive sensor technology marks the future of biometric sensing. We developed this technology specifically with wearables and smart clothing applications in mind, concentrating on enhancing overall user experience. We recognized the desire of both fashion brands and consumers to embrace advanced features while maintaining traditional brand values. Our low-power, contact-free technology helps achieve this. In parallel, we are leveraging our core technology to develop the “holy grail” of sensors – a cuff-free blood pressure sensor and we expect to demonstrate preliminary results this year” said Eran Agmon, co-founder and CEO of Sensifree. “TransLink Capital’s financial support, global partnerships and expertise in consumer devices and wearable technology will help us execute our vision more rapidly and broadly.
“Sensifree’s innovative technology enables the next-generation of purpose-built, wearable sensor technologies, optimizing biometric function and accuracy while also minimizing power consumption,” said Eric Hsia of Translink Capital. “We believe the market is seeking and will embrace Sensifree’s solutions as wearable companies from traditional watch makers to activity trackers to clothing designers look to design breakthrough, differentiated products for their customers. Sensifree is in a leadership position in the industry and we are thrilled to collaborate with Eran and his team and support them on their journey to move the wearables industry forward.”
Sensifree’s RF based biometric sensors and software represent a new frontier in biometric sensing technology. Key features of Sensifree’s technology include:
Enables the ability to monitor heart rate continuously without contact with the skin.
Significantly lower power consumption than existing solutions, allowing continuous, high accuracy heart rate monitoring.
Uniquely capable of working through fabrics and under water.
Robust functionality in challenging environments- not impacted by ambient light, skin pigmentation, tattoos, hair, sweat or dirt.
Open, extensible platform for capturing biometric data and building new software applications and services.
About TransLink Capital
TransLink Capital invests in seed, early, and expansion stage U.S. based technology startups that can benefit from the firm’s long-standing relationships with leading Asian technology, Internet, electronic manufacturing services, and telecommunications services corporations in Greater China, Japan, and South Korea. TransLink’s primary focus is on Series A investing and selectively invests in seed and later stage companies.
Sensifree is the pioneer of patented, low power electromagnetic sensors that accurately collect a range of continuous biometric data without the need to touch the human body. The Company’s first product is a heart rate sensor for wearable devices for wearable applications such as traditional watches, activity trackers and smart clothing. The company is headquartered in Cupertino, CA with a R&D center in Petach-Tikva, Israel. For additional information: www.sensifree.com