Cipher Skin Inc. Raises Over $1.2 Million in Seed Round
Denver-based startup, which plans to create the largest database of human movement in the world, raises over $1.2 million in seed round funding. Its wearable technology visualizes direct and accurate motion data without cameras or bulky equipment, into their application called, The Digital Mirror™.
DENVER, June 5, 2019 /PRNewswire-PRWeb/ -- Cipher Skin Inc. announces that it closed its seed round in April, raising over $1.2 million in initial funding from South Oak Capital Partners, LSVBR Partners (part of The Lemoine Company), and other angel investors. The company, which plans to create the largest database of human movement in the world, is developing wearable technology in the form of a motion-capture sensor mesh. This product's ability to capture human motion without the need for a camera or bulky equipment and display motion in real-time via their Digital Mirror™, marks a departure from current solutions on the market. To date, Cipher Skin has two U.S. patents that cover over 80 unique claims.
In addition to detailed body motion, Cipher Skin's product captures biosignals such as heart rate and oxygen saturation. Company co-founders Phillip Bogdanovich, Craig Weller, and Shaka Bahadu created this technology because they believed that the current market offerings were ultimately not helpful to people who want to improve their sports performance while avoiding injuries.
"Existing wearable technologies provide estimations of movement, rather than direct measurement of it," says Bogdanovich, Cipher Skin's CEO and chief engineer. "They use algorithms to guess at things like steps, activities, and calorie counts. They use old sensor technologies to determine biosignals, and the data is not aggregated intelligently into one system, limiting its utility to users interested in motion quality."
With this capital infusion, Cipher Skin has built an arm sleeve that measures and displays complex motion of the upper limb, heart rate, oxygen saturation, and biceps expansion in real time. In addition, they have developed a prototype of leggings that measure the complex motion of the lower limbs simultaneously, directly counting steps, stride length, cadence, degree of flexion and extension of the knee and hip joints, and pelvic balance.
"We invested in Cipher not just for the versatile and high-potential technology, but for the talent they have assembled," explains Ryan Lemoine, Partner at LSVBR. "Phillip is a true engineer/CEO whose fingerprints are all over the technology, and he has real experience growing tech startups. Additionally, having accomplished Ph.D. engineers on the team means that Cipher has the brainpower to get this powerful product to market in a way that can make an impact."
"We invested into Cipher Skin because of the people and their passion for solving the problems at hand. We are grateful to be able to be a value-added partner and look forward to the continued growth ahead," says Ben Moody, Managing Partner of South Oak Capital.
The market for intelligent wearables is projected to reach $650 billion by 2024. Cipher Skin's core tech, the sensor mesh, will help drive human performance in both the sports and wellness industries.To find out more about Cipher Skin and their wearable technology solutions, go to http://www.cipherskin.com. You can also follow them on Twitter (@CipherSkin), Instagram (@cipherskininc) and LinkedIn (https://www.linkedin.com/company/cipherskin/).
SOURCE Cipher Skin Inc
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