Singapore-based Internet of Things (IoT) startup KaHa, which makes smart wearables, has raised SGD8.5 million (USD6.2 million) in Series B funding led by ICT Fund, a venture capital fund focused on deep-tech investment.
The funds raised will be utilised by the company in boosting its research and development and scaling its operations in the Asia-Pacific region.
KaHa operates an end-to-end IoT platform for smart wearables with services including electronics design, printed circuit board assembly, application framework for iOS and Android, cloud services, data analytics and smart after-sales service tool. The company has also office at Bengaluru.
Speaking about the funding, Pawan Gandhi, Founder and CEO of KaHa, said, “Apart from helping us expand our product line, this new round of funding will allow KaHa to discover more breakthrough products that can support the health and wellness, sports and fitness, safety and digital payments needs, as well as increase the COVE platform’s availability internationally and improve our accessibility and affordability.”
Brijesh Pande, managing partner of ICT Fund, said, “Consumer product brands will increasingly need to offer ‘smart’ products to maintain leadership and KaHa, with its innovative end-to-end platform, is a perfect partner for global brands.”
The company was incorporated in Singapore in 2015. It is expecting the number of devices powered by its platform to exceed two million by the end of 2019.
KaHa’s partners across the IoT development chain include Singapore research institute A*STAR SIMTech, Bridgestone, Curtis Australia, MHA Manufacture de Haute Accessoirie Partners, Tex Line and Titan.
Earlier, KaHa had built a smart fitness t-shirt in collaboration with Tex Line and ASTAR SIMTech. The smart shirt, which was tested at the one-north Run 2018, monitors live ECG, live heart rate, heart rate variance, and other health parameters.
The startup also aims to increase manpower in its Singapore headquarters and offices in China, India, and Switzerland within the next two years as part of the expansion plans.