Startup Spotlight: Nanit’s parent and child tech solutions
New York-based Nanit creates technological solutions for the parenting market, including baby monitors and sleep trackers.
The company has won significant financial backing since its foundation in 2015 - almost $50mn across four funding rounds. Its latest round earlier this month saw the company receive $21mn from investors including Upfront Ventures, Rho Capital Partners, RRE Ventures and Jerusalem Venture Partners.
Nanit said it would use the funds to expand globally. The company has recently launched its products in the UK and Canada, and also a new line of wearables known as Breathing Wear, allowing parents to monitor breathing motion.
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Sarah Dorsett, CEO of Nanit said in a press release: "The company has experienced incredible growth from 2018, and our recent funding points to the confidence and demand in the marketplace for innovative consumer products. Having a baby is one of the most significant life moments not only for parents but for the entire family. We are so fortunate to be able to use our technology to keep families connected and sharing in this precious new journey, no matter where they are."
Nanit said its products had taken on a new utility in the ongoing COVID-19 pandemic. With 20% of Nanit's active users being extended relations, trusted users outside the home are able to assist in monitoring babies remotely.
"We've increased our commitment to Nanit as we believe the Company is strongly positioned to take advantage of the rapid growth in the connected nursery industry. Nanit uses artificial intelligence and computer vision to truly revolutionize the sleep category; a crucial dimension of the wellness industry. The coronavirus crisis has demonstrated once again how important technology is for families to stay connected," said Erel Margalit, Founder, and Chairman of JVP. "We are sure the unique solution and advanced technology will be further expanded into new and exciting product lines."
