Nanoleq raises CHF 11.5M for their Series A investment21.12.2021
Nanoleq, a Swiss wearable technology company headquartered in Zurich, announces the closing of a CHF 11.5M Series A funding round. With the fresh capital, the company will pursue its vision to rethink and reinvent health monitoring based on smart textiles.
In 2017, four biomedical engineers created Nanoleq which started as a key supplier and enabler for smart textile businesses. Founded on material innovation coming out of ETH Zurich, the company developed and commercialized stretchable cables and dry electrodes, which are highly comfortable, washable, and simplify the manufacturing process. With 24 current employees and a location opening in 2022 in Berlin for the marketing, design, and software development teams, they have become the basis of several e-textile applications, ranging from vital sign monitoring to electrical stimulation.
In the coming months, Nanoleq will launch its own brand with a revolutionary wearable. The product will allow users to reconnect to their bodies in a unique way. Interactive exercises with live biofeedback will empower users to take control of their mental health. This new health companion is destined to be a pioneering product in the upcoming era of smart textiles and healthcare wearables, which has been so far dominated by products like the Apple Watch, FitBit, and Whoop.
The financing round is led by Capnamic Ventures alongside institutional investors such as ZKB, Verve Ventures, and a high-profile angel group including Michael Halbherr, ex-CEO of Here, and Oliver Pabst, ex-CEO of Mammut.
Christian Siegele, Managing Partner at Capnamic: “With a team of leading experts, Nanoleq is building the next generation of health-monitoring textiles by combining their know-how about innovative soft electronic materials, biosignal acquisition, and textile engineering. Already having proven their success as a material supplier, their proprietary full-stack solution for consumers in the yet untapped breathing market represents a huge opportunity and we are thrilled to be a part of this journey.”
Vincent Martinez, CEO at Nanoleq: “This round will allow us to scale our operations and meet the high demand of various customers for our smart components. Besides, we are setting up a new division in Berlin to launch a visionary wearable in 2022. This new product goes beyond the simple usual monitoring; it will truly help people to regain control over their mental health based on actionable insights. The product is situated at the interface between meditation and science, for which we perceive a growing interest in the market.”