Wearable tech startup Ringly has collected a $5.1 million Series A funding round led by Andreessen Horowitz. The company ran a successful pretail funding campaign last summer easily topping their $60,000 goal. The campaign was described at the time as the “most successful pre-sales campaign for women’s connected jewelry, reaching over $100,000 in sales in under 24 hours“. Early purchasers benefited by receiving a discount on a device that is scheduled to ship later this Spring.
The New York based startup now has a sizable war-chest to fund improvements in the technology and add new features and sensors.
Co-founder and CEO Christina Mercando was quoted in GigaOm;
“We are looking at new styles and form factors using the existing technology,” she said. “The tech is so interesting and we’ll be adding new features from the software side to help you stay more connected.”
The ring connects to the wearer’s smartphone and acts as a notification tool for calls, texts and more. The companion App allows various customizations so notifications can be limited to certain people or Ringly may be tied to a specific service such as Uber – notifying the wearer the car has arrived. Alerts include vibrations and “subtle” lights.
The internet of thing (IoT), and specifically wearable tech, is all the rage. The forthcoming release of the Apple Watch has set expectations of rapid adoption by the masses. As technology becomes smaller, and new features are developed, creative companies are discovering new ways to drive value for users and the always connected world. Pebble Watch, another crowdfunding success, was one of the first companies to prove strong commercial interest for technology that expands beyond an iPhone. Ringly has gone beyond the watch and delivered a stylish piece of jewelry that is discreet yet functional. The company intends on incorporating additional technology going forward including an accelerometer.
Additional investors in the Series A involved other well known venture groups such as Highline Ventures, First Round Capital, Mesa +, Silas Capital, Social + Capital and Brooklyn Bridge Ventures. Startup ecosystem PCH also joined in the funding round.
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