Basis receives £11.5 m worth of investment as the health tech market rockets

As mentioned in previous posts, the rise and risk of health within the modern world has become somewhat of a pandemic, well that’s if you believe every piece of tabloid news presented. However the subject is spreading like wildfire, and it has started to make people stand up and pay attention to their health. Fundamentally this has bolstered the health and fitness market, as more and more people are spending money on a healthier lifestyle.

As a result of the market growth, investment has been heavily involved within the sector and recently more businesses have received backing to help them grow. One of these success stories was Basis Science who has received £11.5 million worth of investment for its own sensor-based band that monitors a variety of health indicators. The series B round of funding for the business was mainly backed by Mayfield Fund and also included existing investors DCM and Norwest Venture Partners.

The Basis band is currently in a ballooning market with some stiff competition from the likes of Nike Fuelband, Jawbone Up and Fitbit Flex just to name a few. The band currently is the most expensive version of the options named, although it must be pointed out that Basis prides itself on offering four sensors to capture motion, heart rate, perspiration and skin temperature, as appose to just one sensor offered by its competitors. Having more sensors allows Basis band to also monitor other aspects of health rather than just activity and calories burned.

Basis band is currently on the market at $199, with competitors valuing their products at $129 for Up, $149.99 for Nike’s Fuelband and Flex only costing $99.95.