Wearable Tech World Feature Article
November 04, 2015

Lumo Gains $10 Million in Series B

Fitness application and sensor developer Lumo Bodytech entered the market a few years ago with Lumo Lift, a collection of wearable sensors that help users improve their posture. From there, it moved to Lumo Back, for back posture, and into the present day with Lumo Run, which helps runners improve their performance on the road and track.

The company’s latest announcement regards both its present and possible future because it has gained $10 million in Series B funding. According to the report at TechCrunch, Wuxi Healthcare Ventures led this round and joined AME Cloud Ventures, Innovation Endeavors, Innovalue Capital, and Madrona Venture Group, – all previous investors. In addition, MAS Holdings and Eli Harari, an individual donor and founder of SanDisk, added their support as newcomers.

The next phase of the company’s development, according to Monisha Perkash, the CEO of Luma, will build a software platform that can handle and analyze data its smart sensors generate.

“We’re now entering the next phase of the wearable industry,” Perkash said. “With the support of our new investors including WuXi, a leader in research and development in healthcare applications, we can deliver a wearables platform that will ultimately help people address significant health, wellness, and performance issues.”

This application is expected to use Lumo cloud servers to take action on consumer data. It can retrieve data directly from Lift, Back, and Run devices and analyze that data to present users with information that can affect their lives. It could, for instance, show a runner how he slowed down going up a hill and when his pace was steady for long periods. It could create a graph of a user’s posture as she straightens or slouches throughout the work day. In this way, Lumo products can effectively address both sport and work.

Consumer applications on their mobile phones or computers can display that data in real time. It can link to the Lumo cloud to retrieve pertinent information just in time for users to make corrections. The runner can tackle that hill; the office manager can sit up straight.

Lumo reportedly plans to extend its line of wearable fitness trackers to more clothing and shoes beyond its current portfolio. Wuxi plays a big part here because it has connections in the fashion, fitness, and healthcare markets that may be interested in adopting Lumo’s tech. Partnerships with those additional parties could help Lumo expand even further than it currently expects.

For the time being, application development appears to take center stage. But look to TMC in the future for more reports about Lumo’s intentions and any partnerships it may develop.

Edited by Kyle Piscioniere

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