Technological startup from New York Eight Sleep, developing smart mattresses and mattresses, successfully closed a $ 86 million round round and approached the estimate of $ 500 million,
«I always liked sleep idea for recovery. So we came to the idea of fitness for sleep, «explained the general director of Eight Sleep Matteo Francente.
Eight Sleep mattresses use patented sensors and algorithms for continuous body temperature tracking, heartbeat and human breathing in a dream. The technology automatically registers changes and sends signals to heating and cooling systems, if there is a need. The platform also retains all the data collected overnight and transmits them in the morning to the application for the smartphone. According to the startup estimates, customers using smart mattresses fall asleep 40% faster, are in a deep dream by 20% longer, 30% are less buried in a dream and 30% wake up in the middle of the night.
During 2021, the Eight Sleep revenue increased by 300% compared with last year. The developers associate an impressive growth with increased demand for two main products — a networker worth $ 1.7 thousand and a full-fledged mattress for $ 3 thousand. The company does not disclose the exact amount of income and the number of its customers, but claims that the Eight Sleep audience is calculated by thousands of users.
The investment round was headed by the Valor Equity Partners Valor Foundation, who had previously supported the development of Tesla, Spacex and Gopuff. In addition to investments, Softbank, Khosla Ventures, Founders Fund and General Catalyst, as well as a number of large brands and business angels joined. Representatives of the startup confirmed that the C series brought the total amount of attracted capital to $ 150 million, and Eight Sleep’s assessment «became close» to $ 500 million.
In a conversation with TechCrunch, Franceni reported that the funds received would go to several projects. First of all, EIGHT SLEEP will send capital to develop new technologies — engineers want to expand the capabilities of smart mattresses and teach algorithms to read new health indicators. And then the company will switch to international expansion — until the end of this year, Eight Sleep products will appear in Europe and the UK.
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