Wearable health technology manufacturer Basis Science adds $11.75m to its $23m series B, now backed by Stanford University.

Stanford University has joined the consortium of investors backing Basis Science, adding $11.75m to its now $23m series B round.

Backers in the round include Stanford, Intel’s venture arm Intel Capital, venture firms DCM, Mayfield Fund, Norwest Venture Partners, Peninsula KCG, iNovia Capital, and the Dolby Family Trust.

The latest funding brings the total amount raised by the US-based startup to $32m. Norwest and DCM participated in Basis’ $9m series A held in 2011 shortly after when it was founded. Both firms went on to join the Mayfield Fund to back the first half of the company’s series B for $11.5m back in March this year.

Located in San Francisco, Basis manufactures wearable health watches used to monitor vital signs and used by customers to provide insight into their exercise routine. The device is part of a growing market for wearable technology with Samsung already unveiling its smartwatch and a rival is rumoured to be under development by smartphone manufacturer Apple.

Jef Holove, chief executive at Basis, said: “We now capture billions of heart beats each week and our users remain more engaged with our system versus other options in the category. With this new support, we’ll be able to continue to build on our strong foundation and offer a great experience for many more people looking to build healthy habits.”

Arvind Sodhani, president of Intel Capital, added: “Wearable computing enables a data-driven approach to managing healthcare and fitness. By collecting heart rate, skin and ambient temperature data along with movement tracking, the Basis multi-sensor band opens up opportunities for data analytics driving deeper insights into health and personal behavior.”