Misfit raises $ 40 million more!

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The specialist in smart health connected bracelets Misfit Wearables has just announced that he has lifted An additional $ 40 million to finance its growth in China. In this series C fundraiser led by GGV Capital, we find the Chinese Xiaomi, JD.com, Shunwei as well as the historic investors Horizons Ventures, Khosla Ventures, Founders Fund and Northwest Venture Partners. In total, the company will therefore have raised $ 63 million.

1/3 of Misfit's revenues come from China

This new turning point is quite interesting, especially since Misfit already achieves a third of its turnover in China. With the giants JD.com (e-commerce) and Xiaomi (manufacturer of low-cost smartphones) on its board, Misfit Wearables is ready to face the Chinese market. Its founder, Sonny Vu, who went through the prestigious MIT is also Chinese. He is not afraid to say that China is his favorite market

"To us, (China) is probably our favorite market"

– Sonny Vu, founder and CEO of Misfit

If Xiaomi has been offering a smart health connected bracelet for $ 13 in China for a few months, Sonny Vu ​​does not think he is in direct confrontation with his Misfit Shine, the flagship of the American brand. According to him, this is an experience that is sold, not just hardware.

Misfit has reached financial breakeven

The CEO of Misfit Wearables said in an interview with TechCrunch that the company has already reached financial breakeven, and that it does not need this partnership financially. Besides, Misfit still wouldn't have used part of the 15 million dollars she raised in a previous round …

So why this fundraiser? Mr. Vu says it’s primarily about secure strategic partnerships, including Xiaomi and JD.com. The two investors should thus bring their know-how, especially in mass production, while obviously retaining quality.

Victoria's Secret Misfit Shine

health home automation projects

This time according to the American magazine Re / Code which would have exchanged with Mr. Vu, Misfit would also intend to get started in the coming months in health home automation. Without giving more details on his future offer, the CEO of the company would have simply said that "several products" will be released shortly.

For the moment, you can simply find the aluminum Misfit Shine at 99.99 € on Amazon, or the plastic version called Misfit Flash and sold for only 49.90 € exclusively at ehealth.

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