Investment by Anges Québec Members and Anges Québec Capital to support the innovative digital health startup in FDA approval process
Montreal, Canada (December 15, 2015) – In a second round of financing, angel investors from Anges Québec and Anges Québec Capital fund have invested $1,320,000 in Hexoskin, a world leader in digital health technology. With previous investments of $730,000 of seed capital in 2012 and $255,000 in 2013, along with an additional $933,000 in a first round of financing from Anges Québec in 2014, Hexoskin now has raised over $3,200,000 dollars in private funding. This recent investment will allow the Quebec startup, which designs and manufactures smart shirts for health tracking distributed on five continents, to pursue its exponential growth overseas.
Hexoskin shirts measure cardiorespiratory activity, physical activity, and sleep. The data, transmitted in real-time to an iPhone or Android smartphone, can be shared over a platform that communicates with other apps. The new capital investment will allow Hexoskin to speed up the medical certification of its biometric clothing technology in order to conquer the global digital health market. With the unique physical health data collected by Hexoskin, their presence on the market could change the face of modern medicine.
NASA, the Canadian Space Agency, military organizations, and elite athletes are already active users of Hexoskin. The company is widely regarded as an international leader in its field. The Hexoskin smart shirt has been named Most Innovative Consumer Health Product and Best Wearable Device, and has won numerous other awards in Canada and the United States.
“This new investment is a vote of confidence in our business, our technology, and our strategy for expansion into the medical field. This round of financing strengthens our position as a leader in the global digital health industry for smart clothing and mobile applications.” – Pierre-Alexandre Fournier, president and co-founder of Hexoskin
“Hexoskin’s founders are true innovators. They uncovered the resources to develop smart clothing in a landscape that sees very few made-in-Quebec consumer electronics. We’re happy to be stimulating the creative genius of entrepreneurs in this province.” – Pierre Chadi, angel investor and vice president of investments at Anges Québec Capital
About Anges Québec
Anges Québec is a network of 170 private investors that identifies, finances, and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Quebec organizations interested in the development and promotion of Quebec-based technological innovations. So far, Anges Québec members have made 77 investments and reinvestments in 53 promising businesses in the seed and startup phases.
About the Anges Québec Capital Fund
Anges Québec Capital is an investment fund set up to financially support the members of Anges Québec. Sponsored primarily by the Quebec government, Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, and Investissement Québec, the fund supports the angels who invest in innovative Quebec businesses in the seed or startup phase. This joint effort by angels and fund sponsors results in $85 million being made available to entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably grow their business.
Hexoskin is the world leader in smart clothing for health monitoring. Hexoskin smart shirts are used by thousands of athletes, trainers, and health professionals all over the world, and provide a new, convenient way to understand human health in real-life environments. In addition to serving its clients in sports science and health research, Hexoskin is a supplier of smart clothing for aerospace and military organisations in many countries, including the United States.