Successful health technology startup Fitbit has just gained access to a new round of investment funding, to the sweet tune of $30 million.
According to a report by venture capital watcher TechCrunch, multiple sources have told the outlet that Fitbit is in the process of raising over $30 million. This influx of additional cash has helped the company notch an impressive $300 million in valuation.
While the extra funding is eye-popping, these figures should not come as a big surprise to those following the personal fitness space closely. The category is exploding with a flood of players, from device makers to app developers, almost tripping over each other to enter this potentially lucrative market.
Indeed, as I noticed at MWC 2013 last week, many of the exciting gadgets showcased in Barcelona, Spain, were devices meant to be worn daily if not around the clock. Heck, even the rumors that Apple will step in to disrupt the personal tech/fitness space are thickening.