Wearable electronics spinout MC10 raises $40m according to SEC filing.
MC10, a wearable electronics spinout of University of Illinois Urbana-Champaign has raised $40m in its latest venture round, according to a filing with the SEC.
As with its last round at the start of 2014, worth $20m, the company has not given any further details on its investors or its plans for the cash. However, university investment consortium Osage University Partners has been an investor in previous rounds, now worth a collective $101.2m, and with a recent second fund raised by Osage, there is a chance that it has returned for the latest round. Other investors include venture firms North Bridge Venture Partners, Braemar Energy Ventures, Terawatt Ventures, Windham Venture Partners, Aberdare Ventures, and biotech Medtronic.
Founded in 2008, the Massachusetts-based firm is developing electronics which are thin, flexible, and can be attached to the skin to monitor vital signs in both a healthcare and sports setting. Its products are already in use, and the company has a deal with clothing manufacturer Reebok to use its chips in its CheckLight mesh cap.
