SINGAPORE-BASED smart wearables startup KaHa has raised US$6.2 million in its Series B funding round led by Singapore specialised deep-tech venture capital fund ICT Fund as well as an existing strategic investor from Europe.
The funds raised will enable KaHa - which runs Cove, an end-to-end Internet of Things (IoT) platform for smart wearables - to boost its research and development and scale its operations in the Asia Pacific region.
The startup will expand its presence in Singapore and play a more significant role in the country’s IoT ecosystem, it said in a press release on Monday. This year, it launched the Cove R2C IoT Innovation Lab in the one-north technology hub.
KaHa said it is currently developing innovative use cases on smart wearables, in close collaboration with public and private partners across the IoT development value chain, including A*STAR, SIMTech, Bridgestone, Curtis Australia, MHA Manufacture de Haute Accessoirie Partners, Tex Line, and Titan.
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 consumers’ 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.”
“With the continued support of our existing strategic investor and new partner ICT Fund, we are strategically positioned to make our mission possible,” he added.
The Cove end-to-end IoT platform for smart wearables includes electronics design, printed circuit board assembly, application framework for iOS and Android, cloud services, data analytics and a smart after-sales service tool.
KaHa also has offices in Bengaluru, Shenzhen and Geneva.