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SA’s LifeQ Secures $47 Million To Grow Working Capacity, Drive Higher Reach, And Profitability

Startups

May 28, 2021, 11:46 a.m.

LifeQ, a leading biometrics company, has secured a $47 million round from top investors around the world to grow working capacity, drive higher reach and profitability.

The South African biometrics company, founded by Laurence Olivier, CEO, and Dr. Franco du Preez, Chief Scientist, is the leading provider of biometrics and health information derived from wearable devices, helping people live healthier lives.

The startup provides a 24/7 lens into the body, and its solutions go beyond an everyday smartwatch, generating business-grade biometrics for consumers, athletes, and the acutely and chronically ill. The solutions detect health problems and prevent illness.

Speaking on the secured funding, Laurence Olivier said: “LifeQ is proud to partner with the world’s most distinguished investment groups to positively impact the future of health for all people,

“We are in the midst of a global health crisis caused by a sedentary lifestyle, increased work demands, and unhealthy foods resulting in the rapid increase in chronic illnesses worldwide, many of which are preventable.

The COVID-19 situation has brought this problem into stark focus. LifeQ has already been integrated into some of the world’s most innovative new wearable products by leading OEMs to bring consumers the healthcare of the future.”

“We are delighted to welcome these world-class investors to LifeQ. The capital from this investment round has significantly expanded our working capacity and will drive higher reach, growth, and profitability”.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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