South African biotech startup LifeQ has secured $47 million from top investors around the world. LifeQ has two key value propositions: enabling wearable devices to provide business-grade and near clinical-grade health information streams; and using this data to generate health and wellness solutions for consumer, business and clinical applications.
“LifeQ is proud to partner with the world’s most distinguished investment groups to positively impact the future of health for all people,” said LifeQ co-founder and CEO Laurence Olivier.
“We are in the midst of a global health crisis caused by sedentary lifestyle, increased work demands, and unhealthy foods resulting in rapid increase in chronic illnesses worldwide, many of which are preventable. The COVID-19 situation has brought this problem into stark focus.
“LifeQ has already been integrated into some of the world’s most innovative new wearable products by leading OEMs to bring consumers the healthcare of the future.”
LifeQ is rapidly becoming the preferred health enabler and benchmark for the world’s top consumer electronics companies, powering the next wave of digitally enabled insurance and health management, and has already had a significant, life-changing and even life-saving impact on real users’ lives.
“High accuracy, personalized, non-invasive digital health monitoring by wearable devices is the future of well-being and good health,” said LifeQ co-founder and Chief Scientist Dr Franco du Preez.
LifeQ has assembled a valuable shareholder base to assist with business expansion. The investors span an impressive list of institutions and strategic investors, including Invenfin, 4Di Capital, Allectus Capital, Mogul Capital, Tenhong Holdings, Analog Devices, Hannover Re, Convergence Partners, Stellar Capital Partners, Nedbank Corporate and Investment Bank, Delos, OneBio Seed Investment Fund, Virgin Group, Lireas, Allen & Co, and Acequia Capital. LifeQ has also drawn the backing of experienced entrepreneurs and family offices such as Rachel Diamond, Halls Investments, Bremer Investments, Errol Damelin, and Dietco.
“We are delighted to welcome these world-class investors to LifeQ,” said Olivier. “The capital from this investment round has significantly expanded our working capacity and will drive higher reach, growth and profitability.”
With 85% of all health costs, today related to chronic diseases, the importance of monitoring and diagnosing as early as possible cannot be overstated. Consumers benefit from LifeQ’s accurate and insightful health information, disease prevention and management programs, and more affordable and tailored life and health insurance products.
LifeQ is GDPR-compliant and ensures that the consumer has complete control and ownership of their health information.
Businesses that have incorporated LifeQ into their offerings include prominent global entities such as Samsung, Xiaomi, Fossil Group, Montblanc, Motorola, Suunto, and HannoverRe. Leading semiconductor manufacturers like Texas Instruments, Qualcomm and Pixart have endorsed LifeQ as the best OEM enabler for users of their chipsets and platforms.