Lumen has announced it snapped up a cool $62 million in a Series B funding round. These additional resources will go towards further development of its hardware, for new personalised nutrition and lifestyle recommendations and support for its research partnerships.
The funding round was led by Pitango Venture Capital. Other participants include names such as Hanwha Group, Resolute Ventures, RiverPark Ventures, Unorthodox Ventures, Almeda Capital and Disruptive VC.
What’s more, the Israeli-based company says it has partnered with a number of research institutions, namely Purdue University’s Whistler Center for Carbohydrate Research, University of Toronto’s Faculty of Kinesiology and Physical Education and ARU Cambridge.
This latest funding round was by far its biggest to date. Which gives lots of confidence as to further development of Lumen hardware and software.
Back in 2018, the company first launched its pocket-sized breath analyser via Indiegogo. At the time it scored some $2.4 million on the crowdfunding platform. This was followed by a funding round which scooped up an additional $8.5 million.
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Their device is unlike anything else out there. We published recently our hands-on review of the Lumen breath analyser. With just one breath, the gizmo tells you what you’re using for energy. It measures the CO2 production in your breath to work out how much energy is being burned from carbohydrates and how much from fat. This allows you to see what’s going on with your body in real-time.
You can use the gizmo each morning to receive direction on how yesterday’s meals and activity are affecting your metabolism. Having this type of data at your fingertips will help you learn how your body processes food, and fine tune your metabolism for the better. It is a very cool thing to have in your hand.
Lumen’s biggest presence is in the US and Europe. With these additional funds the company is paving the way towards global expansion. Watch this space.
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