Owlet Baby Care, which makes the Smart Sock baby monitor, secured $7 million in funding, the company has announced. The funds will help the company launch the product this fall after two years of development and rigorous safety testing.
Of the $7 million, $6 million is from the company’s Series A, which was led by Formation 8 (F8). Also participating in the round were Blake Mycoskie, founder of TOMS Shoes, out of his new fund Carpe Diem VC; and Owlet’s previous investors Azimuth Ventures, ffvc, Eniac Ventures and Peak Capital.
Owlet Baby Monitor is touted as the first of its kind among new smart baby monitors, aimed at giving parents peace of mind.Owlet is also receiving another $1 million for participating in a government National Institutes of Health (NIH) grant bringing the total amount raised to date to $9.2 million.
“There is no way that we could have raised our funds without pushing the entire company to the sole focus of creating an amazing product for parents,” Owlet co-founder Jordan Monroe said. “Our new investor, Lior, was able to use the Owlet with his baby, as well as all of our competitors’ products, and he fell in love with the Owlet Monitor. That was the biggest factor in making this investment happen.”
The Smart Sock is currently only available to early supporters and new supporters in limited production. It is touted as the first of its kind among new smart baby monitors, aimed at giving parents peace of mind.
Relying on pulse oximetry, the Owlet Baby Monitor tracks an infant’s vital signs, including heart rate and oxygen levels, to alert parents if their baby stops breathing. The information from the monitor is relayed to parents’ smartphones, allowing them to check on their child from anywhere.