Bank of England’s Decision to Wind up Silicon Valley Bank’s UK Arm Raises Concerns for Startups in the UK.
Nanit, which developed a smart-monitoring system for babies, has announced that it has just closed a $25 million Series C funding round led by GV which brings its total capital raised to date to $75 million. As part of the deal, GV’s Frederique Dame will join Nanit’s board of directors.
The baby-monitoring system was developed to give the parents a better idea of their baby’s sleep and general health using computer vision via an overhead nursery cam and specifically designed clothing (filled with sensors). It uses artificial intelligence to analyse any sounds and movements that occur in or around the crib. This does not only help in making sure that the child is ok but also offers some reassurance to new parents who may be constantly worried that something is/will go wrong.
The software gives a wealth of information every morning such as how long the baby slept, how many times the baby woke up during the night, and even how long it took for the child to fall asleep.
Nanit plans to use this extra cash injection for international expansion as well as to bolster their R&D department. CEO Sarah Dorsett said in a statement:
with the strong backing of our investors and a rapidly growing global community of loyal users, we will continue to introduce innovative solutions that make parenting easier – and that are natural extensions of the technology they are using on a daily basis,
WATCH the full video below: