BodyMedia completes $6.5M second round

July 10, 2002 — BodyMedia Inc., a Pittsburgh-based provider of body monitoring products, announced the close of a $6.5 million second round of financing led by Draper Fisher Jurvetson ePlanet.


Prescient Partners II LLC, the University of Pittsburgh Medical Center and previous investors Draper Triangle and Saturn Partners also participated. The company previously received $6.9 million in a first round of financing that closed in December 2000, according to Astro Teller, BodyMedia’s chief executive.


BodyMedia’s SenseWear Armband tracks movement, heat flow, skin temperature, heart rate, galvanic skin response and other data. Among its many integrated sensors is a dual-axis MEMS accelerometer from Analog Devices .


“With this next set of money we intend to become cash flow positive and solidify and be able to announce a set of partnerships,” specifically in the areas of clinical and self-care weight management and performance sports, Teller said. He also said the company is shrinking the size of the device. “It will be significantly smaller in 12 to 18 months. In fact, I can say roughly half the size.”


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