PARIS–(–)–FeetMe, a medical device company that produces smart medical wearables and digital health services to improve mobility, today announced it has raised € 9.4 million in Series A funding. The investment round was led by LBO France, with additional investment from existing investors Kurma Diagnostics, the fund Paris Saclay seed fund, Idinvest Partners, Seventure and SOSV.
The fundraising will enable acceleration of FeetMe commercial activities in clinical trials for pharmaceutical industry and healthcare services for hospitals and rehabilitation facilities worldwide.
The innovative technology from FeetMe allows gait and posture analysis in real-time and real-life conditions. The technology combines pressure sensors, motion sensors and learning algorithms to analyse patients’ functional capacity, as well as empower rehabilitation among sufferers of gait disorders. FeetMe proposes the world’s first and most advanced technology platform for real-world disease diagnostics, monitoring and rehabilitation based on movement data.
100 million people worldwide suffer from gait disorders. Gait disorders are often a forerunner and indicator of evolutive diseases and health status: multiple sclerosis, Parkinson disease, fragility among elderly, peripheral neuropathies and diabetic foot problems.
Alexis Mathieu, founder and CEO at FeetMe said: “Our platform has demonstrated it can generate unique insights and real-world evidence to accelerate clinical research at scale, and our FeetMe Evaluation solution is setting a new standard for long-term continuous mobility assessment of patients with gait disorders. This Series A round will help FeetMe to accelerate commercial activities.”
Philippe Chambon, Venture Partner at LBO France reports: “With its disruptive yet technically validated technology, FeetMe establishes itself as the global leader in long-term continuous mobility assessment, with the potential to improve diagnosis for the millions of patients each year who present with known and unknown walking difficulties. I believe that FeetMe, with its vast technology capabilities, has the ability to create the world’s largest and highest quality gait pattern data set to create a variety of new digital biomarkers across disease areas.”
FeetMe is a certified medical device company developing smart medical wearables to improve mobility based on connected insoles.
About LBO France / Innovation Capital
As a key player in private equity with €4bn of capital under management, LBO France is an independent company that has been supporting French and Italian companies in their growth for more than 30 years. Its investment strategy is built on 4 distinct segments managed by dedicated teams: (i) Mid Cap Buyout through the White Knight funds and Small Cap Buyout through the Hexagone/Small Caps Opportunities funds, (ii) Venture Capital through the SISA/Digital Health funds, (iii) Real Estate through the White Stone and Lapillus funds, (iv) Debt. LBO France is 100% owned by its management and employs nearly 60 professionals.
About Kurma Partners:
Founded in July 2009, Kurma Partners is a key European player in the financing of Innovation in Healthcare and Biotechnology, from pre-seed to growth capital, notably through Kurma Biofund I, II and III and Kurma Diagnostics, as well as via strategic partnerships with prestigious European research and medical institutions.
About Paris-Saclay Seed Fund:
The Paris Saclay Seed Fund was launched by Université Paris-Saclay and its members and operations were entrusted to two Venture Capital funds: Partech Ventures, a leading investor in technology and digital, and Kurma Partners, which leads investment in life sciences. This fund can invest up to €50 million.
About Idinvest Partners:
Idinvest Partners is a European leader in financing small and medium-sized enterprises, whose mission is to fund European businesses at various stages of growth. With more than €8 billion under management, Idinvest Partners can harness a range of complementary expertise to help businesses grow quickly using equity and private debt investment, both directly and via private equity funds. Since its formation in 1997, Idinvest has financed more than 3,500 European businesses through its three business lines: Venture & Growth Capital, Private Debt and Private Funds Group. www.idinvest.com
With €750m net commitments under management as of the end of 2018, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has been investing in innovative businesses with high growth potential in two fields: Life Sciences across Europe, Israel, Asia and North America, and Digital Technologies in France and Germany. In Life Sciences, the main areas of focus include “classic” approaches such as biotechnology and pharmaceuticals, diagnostic and medtech, industrial biotechnology, as well as “beyond the pill” approaches such as MICROBIOME-linked innovations, nutrition, foodtech, digital/connected health and personalized medicine. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage. In March 2018, Seventure Partners launched AVF, a new fund dedicated to animal nutrition, feed and health. In July 2019, it launched Sport & Performance Capital, dedicated to Sport-tech. Seventure Partners successfully launched Health for Life Capital™ (HFL) and more recently HFL2 in 2019 which invests in Life Sciences (health, nutrition, digital/connected health, etc.) with a core focus on the microbiome revolution and its applications in human health, nutrition and food.
For more details: www.seventure.fr/en Twitter: @seventurep
SOSV — The Accelerator VC — is a venture capital firm with $625 AUM operating global accelerator programs: HAX (Shenzhen/San Francisco) for hardware, IndieBio (San Francisco) and RebelBio (London) for life sciences, Chinaccelerator (Shanghai) and MOX (Taipei) for cross-border internet, Food-X (NYC) for the business of food, and dLab (NYC) for blockchain technology. SOSV invests in over 150 companies per year and over its two-decade history has a net IRR of over 30%, putting it in the top 10% of VC funds in the world.