KINETIC Secures $11.25 Million Series A Funding
Fast-growing wearable technology startup to expand engineering, marketing and sales teams as it develops second-generation devices
KINETIC, the company providing wearable technology that fosters safe environments for the industrial workforce, announced that it has secured an $11.25 million Series A funding round led by Crosslink Capital, which had previously invested in the company. The new investment will help KINETIC grow and scale its engineering, sales and marketing teams and support the development of the second generation of the KINETIC Reflex wearable device.
Crosslink Capital, Primary Ventures and Nationwide’s venture capital team were joined in the KINETIC Series A round by new investors Prologis Ventures, the venture capital arm of Prologis, the global leader in logistics real estate, and Ubiquity Ventures, a venture firm focused on companies that bring “software beyond the screen.”
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“Keeping employees safe, whether it’s from a workplace injury or a virus, has become a primary objective of everyone from the warehouse operator to the operations executive,” said Eric Chin, General Partner at Crosslink Capital. “Demand for the KINETIC Reflex wearable device has increased exponentially, and this investment round will help KINETIC meet that demand.”
“KINETIC has tapped into one of the biggest focus areas for the logistics industry today: creating a safe and productive environment for the industrial workforce,” said William O’Donnell, managing partner, Prologis Ventures. “We are thrilled to invest in KINETIC as the company enters its next phase of growth.”
Over the past 12 months, KINETIC has seen the installed base of its KINETIC Reflex grow exponentially. A discrete smart wearable that is worn on belts or waistbands of industrial workers, the KINETIC Reflex automatically detects unsafe work postures and provides users with real-time feedback to reduce injuries and create better work habits. The Reflex was recently updated with two features designed to keep workers safe from Covid-19.
“Over the past year, KINETIC has experienced broad acceptance for its wearable devices across the industrial workforce,” said KINETIC co-founder and CEO, Haytham Elhawary. “At KINETIC we look forward to leveraging this Series A to scale our operations and develop the next-generation wearable to enable a truly connected industrial workforce.”