Hello, the creator of the Sense sleep tracker, has raised an additional $40 million in a round led by Temasek, according to a report by the Financial Times. The company is now valued between $250 million and $300 million.
The mentioned Sense sleep tracker consists of a small device that sits next to a person’s bedside and a small “Sleep Pill” that is placed inside a pillowcase. It tracks a number of data points, such as noise, air particulates and lighting, and then provides actionable advice on how to improve one’s sleep quality.
There’s no official word what Hello will do with the fresh capital, but chances are at least part of the cash will go towards additional R&D, and to expand sales and marketing efforts both in the US and globally.
The company literally kickstarted its business online, raising $2.4 million in pre-orders through a crowdfunding campaign on Kickstarter. It also secured around $10.5 million from a number of well-connected angel investors.
[Via: TechCrunch]