MC10 works out with $20m

MC10, a manufacturer of wearable electronics spun out from the University of Illinois Urbana-Champaign (UIUC), has received $20m in a series D venture round according to a SEC filing.

Although the current round’s backers were not disclosed, university venturing consortium Osage University Partners has invested in the firm’s A, B, and C rounds, alongside venture firm North Bridge Venture Partners. Other investors include venture firms Braemar Energy Ventures, Terawatt Ventures, Windham Venture Partners, Aberdare Ventures, and biotech Medtronic.

In total, the company has now raised $61.2m in venture backing.

MC10, founded in 2008 and based in Cambridge, Massachusetts, is developing wearable electronics which are thin, flexible, and can be applied to the skin. Developed at UIUC by Professor John Rogers, the stretchable circuits that can be used in sports or health to monitor vital signs. In addition, MC10 has developed circuits for the cosmetics sector which alert users when to reapply products, and also in defence to monitor soldiers in the field.

One such sensor co-developed with sports clothing manufacturer Reebok is MC10’s CheckLight mesh cap, which provides real-time information on potential head injuries to athletes whilst competing.

In addition to the recent funding, MC10 also recently hired former Motorola executive Sanjay Gupta as its vice president of product development.

David Icke, chief executive of MC10, said: “Adding Sanjay to the team will help MC10 accelerate the development of disruptive consumer products that improve our lives. His background in both consumer electronics and wireless communications is a great fit as we bring innovative body-integrated computing to our target markets.”