Withings raised $60 Million In Venture Capital To Expand Into B2B services

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  • The $60 million venture capital round was co-led by Gilde Healthcare, Idinvest Partners, and Bpifrance, but other investment firms included BNP Paribas Development, ODDO BHF Private Equity, and Adelie Capital
  • The company has also launched its business to business division MED PRO which is focused on serving medical professionals and bringing predictive capabilities into the home using next-generation devices

According to a report, IoT device maker Withings has $60 million in venture capital. The company is looking forward to set its sights on providing B2B services. Eric Careel shared that he strongly believes in technology’s ability to transform society’s health by allowing anyone to regularly monitor their vitals from. This would also involve health professionals in this process.

“Today, we are in an exciting time where medicine is becoming personalised, continuous, and based on data analysis, and I am proud Withings is at the heart of this revolution. With funding from like-minded partners, we can scale our efforts globally and continue to invest in new technologies and AI tools that can detect and predict medical conditions,” Careel added.

Rise of telemedicine 

Investors have claimed to have a lot of confidence on Withings’ potential. The $60 million venture capital round was co-led by Gilde Healthcare, Idinvest Partners, and Bpifrance, but other investment firms included BNP Paribas Development, ODDO BHF Private Equity, and Adelie Capital. 

Edwin de Graaf, Managing Partner at Gilde Healthcare shared that with telemedicine on the rise, there’s a growing need in the health industry need to collect and analyse accurate reliable data. He said “Withings is in a unique position to thrive and is an attractive investment for us. We look forward to working with the Withings team as they continue to redefine how patients and physicians interact.”

Innovative connected health company 

This is a chance for Withings to regain momentum and return to being the innovative connected health company it once was. The company has also launched its business to business division MED PRO which is focused on serving medical professionals and bringing predictive capabilities into the home using next-generation devices. 

As claimed by the company, Withings would use funds from the latest funding round to expand MED PRO and the company plans to add 100 positions in the US and France by the end of the year to support its ambitions. 

Founded in France in 2008, the company went on to build some acclaimed health services, which also includes scales and smartwatches. Finnish Giant Nokia acquired Withings in 2016. The Withings brand subsequently disappeared in 2017. The company was named as Nokia Health. As Nokia Health never officially took off, Withings founder Eric Carreel finalised a deal which led the brand become independent once again under its original name.

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