Xiaomi, JD.com, Coca Cola and O'Reilly Media have exited the wearable device maker, which had raised $63m in VC funding over a three-year period.
Fashion and watch producer Fossil Group yesterday agreed to acquire US-based wearable technology manufacturer Misfit for $260m, giving an exit to several corporate investors.
Founded in 2011, Misfit funded its first product, the Shine activity tracker, with a crowdfunding campaign the following year. Its products operate as activity, fitness and sleep trackers, and the company has also expanded into connected products and home automation.
The acquisition will give Fossil access to Misfit’s wearable technology platform, and it intends to incorporate…
