Known for the Shine, a sleek all-metal tracker, Misfit Wearables has raised $15.2 million in a series B round led by Hong Kong’s Horizon Ventures. The company says the funding will help it commercialize products it has in the development pipeline.
An Indiegogo darling, the Misfit Shine tracker raised more than $846,000, far surpassing its $100,000 goal. Made of aircraft-grade aluminum, the activity monitor doesn’t feature a digital screen. The roughly quarter-sized device was designed so it can be worn clipped onto clothing, as a necklace, or in a wristband.
“Don’t you want a product that you’d wear even if it didn’t measure anything?” CEO Sonny Vu asked Co.Exist when the Indiegogo campaign was launched. “We should expect more from wearable technology. To be really wearable, you have to be comfortable wearing it, it has to be useful, and the last thing is it has to be really desirable and precious to wear.”