Fitbit adds $30M to its coffers

Apparently fitness technology firm Fitbit has gained an additional $30 million in funding.

The upcoming Fitbit Flex. Fitbit

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.

Fitbit certainly plans to sell its own wrist-style health gadget in April, called the Flex , which goes head to head against similar products such as the Jawbone Up and Nike FuelBand .

Tags:
Mobile
Gadgets
About the author

Brian Bennett is senior editor for mobile phones at CNET and reviews a wide range of mobile communication products. These include smartphones and their myriad accessories. He has more than 12 years of experience in technology journalism and has put practically anything fun with a micro chip through its paces at some point.

 

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