Wearable Startup LifeBEAM Raises $16M

March 28, 2016 | Israeli wearable startup LifeBEAM has raised $16 million in Series A funding as it prepares to release a new wearable focused on fitness. LifeBEAM currently powers hats and helmets that connect with a variety of apps and devices to help athletes track their workouts. LifeBEAM was founded in 2010 by Omri Yoffe and Zvika Orron and since then the company has provided technology, hardware and analytics to players in the wearable and fitness spaces such as Samsung and Under Armour. The funding round was led by Square Peg Capital, with participation from Wellborn Ventures, Cerca Partners, Atomic14 Ventures, Triventures and angel investors. The funding comes as the company plans to launch a Kickstarter campaign for a new device, which it calls the Awareable, in May. The company has previously raised about $3 million in seed funding and the Series A brings the total investment to $19 million.