NOWATCH Raises $8.7 Million Series A Round Led by Angel Investor Chris Hall
Investment to solidify lead in new total health ''awareable' category
AMSTERDAM, June 15, 2022 /PRNewswire/ -- NOWATCH, the health technology company pioneering the breakthrough awareable category, today announced the completion of an $8.7 million Series A funding round led by angel investor Chris Hall. Flow Ventures also participated.
NOWATCH's flagship product, the NOWATCH, is the first wearable device in the world to measure and predict stress by inferring cortisol levels through EDA sensors, developed in partnership with Philips. NOWATCH founders Hylke Muntinga and Timothée Manschot have coined this new type of wearable technology "awareable." With this funding, NOWATCH will expand its marketing reach, scale research & development efforts, and grow its internal team.
"Our Series A funding will help us increase the reach of NOWATCH, in turn helping more people achieve their wellness goals. Necessity is often the mother of invention, and was the impetus behind the creation of this new category," says Muntinga. "Between learning in 2019 that I have a rare genetic condition that will cost me my eyesight and experiencing the COVID-19 pandemic the next year, my personal priorities have shifted from planning and stress to a more mindful and present now. With the pandemic's globally reaching impact, I know I am not alone in this desire to increase awareness of my physical and mental health all whilst being more present."
In addition to his investment, Hall joins NOWATCH as chairman of the board. He is an entrepreneur who has successfully set up and scaled multiple SaaS companies including Bynder, which he has grown dramatically in just a few years. In 2015, Bynder was named a Deloitte Fast 50 Rising Star for delivering the most advanced branding automation solution, and in 2018, Bynder placed 20th in The Financial Times 1000: Europe's Fastest Growing Companies list.
"In the same way that cloud technology revolutionized the software industry, I'm confident that 'awareables' and predictive technology will reinvent the way we look at health, wellness and mindfulness," states Hall. "In partnering with Philips, NOWATCH's unique ability to help users understand and navigate their cortisol levels is set to redefine what we look for when shopping for smart devices - taking the guesswork out of our health."
Coupling sleek design with efficacy, the NOWATCH 'awareable' is a screenless watch with an interchangeable gemstone face. It measures and provides insights into health metrics such as sleep, activity, heart rate, temperature and stress. Built with predictive technology that comes to know its wearer, the device can alert them to cumulative stress-overload up to 60 minutes in advance. The NOWATCH harnesses Biosensing (By EDA) technology, which uses ElectroDermal Activity, also known as skin conductance, to interpret stress.
Sweat gland activity is directly correlated to stress: they are the only organs coupled to the sympathetic nervous system, which stimulates the fight-or-flight response to various stressors. Measuring cortisol contribution through skin conductance in this way has never been done before. The high dynamic range of skin conductance provides much more detailed insights into current levels of stress, offering awareness and insight into your cognitive zone - something a heart rate based measurement could never do. It registers the same response to cortisol contribution when subjected to identical stressors, offering more robust and cleaner measurements and predictions into the user's cognitive zone up to 60 minutes in advance.
NOWATCH is a health technology company with a mission to provide the tools to navigate the world of tech. Founded by Hylke Muntinga and Timothée Manschot, the brand's flagship product, the NOWATCH, is the first wearable device to measure and predict stress by tracking cortisol levels heading off burnout before it starts. Coupling sleek design with efficacy, the NOWATCH is screenless with a customizable gemstone face, measures a number of health metrics including temperature, heart rate, movement and sleep and is predictive technology, coming to know its wearer and alerting them to potential stress triggers and problems 60 minutes before they start. The goal: to restore balance for complete mind and body wellbeing. For more information visit the brand's website: www.nowatch.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/nowatch-raises-8-7-million-series-a-round-led-by-angel-investor-chris-hall-301567867.html
Upcoming Life Sciences Events
- June 2022
- The Pharma Business Development Course with Stefan Fischer
- July 2022
- Piscataway: Bio-Manufacturing Innovation Summit
- BIO Asia-Taiwan