Valencell raises $11M Series D for its biometric sensor tech

Valencell BioPack

Valencell, which develops performance biometric sensors used by a number of wearable device makers, has secured $11 million in a Series D round, bringing the company’s total money raised to date to $24.5 million. GII Tech, a new venture fund being launched by UAE-based financial services company GII LLC, led the financing with participation from existing investors TDF Ventures and WSJ Joshua Fund. The company will use the funds to continue its growth and support further innovation in accurate biometric wearable technology.

“This funding is a huge vote of confidence for Valencell’s team, technology and business model that is enabling highly accurate biometrics in wearables of all kinds,” Michael Dering, CEO of Valencell, said in a statement.

Last year, Valencell saw its second consecutive year of triple-digit growth in its PerformTek biometric sensor technology, with a 133 percent increase in licensees over 2014. More than 25 licensees around the world are using the company’s technology to make some of the most innovative wearables and hearables on the market. Valencell also has the most-cited patent portfolio in active signal characterization, which includes 31 granted patents at the foundation of accurate biometric wearables and more than 70 additional patents pending.

At the end of 2015, the company introduced BioPack, a turn-key biometric sensor system with the complete PerformTek technology package ready for immediate integration into wearable devices. This funding will help fuel early demand for BioPack, among other things.

According to IDC, vendors shipped a total of 78.1 million wearables in 2015, a 171.6 percent increase from the year before.