It had previously raised US$3.2 million in Series A round from Gobi Partners in July 2014. Earlier this year, it secured US$164,623 from over 1,000 backers in an Indiegogo crowdfunding campaign for its flagship product RestOn, a non-wearable sleep monitor that links up to the Sleepace app via Bluetooth to track and analyse the quality of an individual’s sleep.
Using RestOn’s medical-grade sensors, the Sleepace app is able to extract sleep health metrics such as sleep time, heart rate, respiratory rate, body movement and sleep cycles.
Founded in 2011, the Shenzhen-based healthtech startup consists of a team of information technology and healthcare experts experienced in the Internet of Things (IoT) industry and sleep science.
Accelerating R&D and market growth
By partnering with Luolai Home Textile, Sleepace will be able to leverage on Luolai’s online and offline channels to market to its products, accelerate research and development, and connect with other smart bedroom devices
“Combining our expertise in the traditional bedroom space and Sleepace’s advanced sleep monitoring technologies, this partnership will help us develop more smart bedroom devices to provide consumers with a healthier sleep experience,” said Xue Weicheng, Founder and Chairman of Luolai Home Textile.
JD.com will also enable Sleepace to leverage on the JD+ smart device ecosystem, which allows users to integrate products from different manufacturers seamlessly into their smart homes, bypassing the pain-point typically faced by consumers when using non-compatible smart devices. In addition, it will provide online and offline resources and services to promote the adoption of sleep health monitoring devices and support the incorporation of Sleepace into the JD+ hardware ecosystem, further broadening the range of compatible products to more than 500, said an official release.
Currently, Sleepace has established its presence in the US by selling through Amazon, and Bath, Bed and Beyond. The company will also expand into the European market in the near future.