FundingHealthcare

South Africa-Born Biometrics Startup LifeQ Scoops Up $47 mn

LifeQ, a South Africa- and US-based startup that derives health information from biometrics and wearable devices, has secured $47 million from a string of venture capital and strategic investors.

The backers include Invenfin, 4Di Capital, Allectus Capital, Mogul Capital, Tenhong Holdings, Analog Devices, Hannover Re, Convergence Partners, Stellar Capital Partners, Nedbank Corporate and Investment Bank, Delos, OneBio Seed Investment Fund, Virgin Group, Lireas, Allen & Co, and Acequia Capital.

LifeQ said it has also drawn the backing of experienced entrepreneurs and family offices such as Rachel Diamond, Halls Investments, Bremer Investments, Errol Damelin and Dietco, among others.

The startup was founded by Laurence Olivier, who is the CEO, and Franco du Preez, its chief scientist. Headquartered in the US, the venture has operations in South Africa and Holland.

LifeQ says it has two key value propositions: enabling wearable devices to provide business-grade and near clinical-grade health information streams; and using this data to generate health and wellness solutions for consumer, business and clinical applications.

“High accuracy, personalized, non-invasive digital health monitoring by wearable devices is the future of well-being and good health,” said du Preez.

“The capital from this investment round has significantly expanded our working capacity and will drive higher reach, growth and profitability,” added Olivier.

Businesses that have incorporated LifeQ into their offerings include prominent global corporations such as Samsung, Xiaomi, Fossil Group, Montblanc, Motorola, Suunto and Hannover Re.

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Start-Up Shorts, LifeQ, South Africa

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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