Startup sports technology company Lemonade Lab has received $5.8m in new funding, which takes its total to more than $10m in the last year, after a $4.5m injection in 2014. The round was led by FIH Mobile, and included contributions from private investors. FIH Mobile is a subsidiary of Hon Hai Precision, better known as device manufacturer Foxconn.
The team at Lemonade Lab develops devices and systems aimed at athletes, which include smart sensors, analytical platforms, and cloud services.
Kunihiko Kaji, CEO and co-founder of Lemonade Labs, said:
“FIH’s financial investment and superior manufacturing empowers Lemonade Lab’s mission to help competitors reach their athletic potential and fulfill healthier and happier lifestyles. With FIH as a strategic partner, we can rely on its world-leading manufacturing platform to bring to market a truly innovative product utilizing cutting-edge technologies.”
Lemonade Lab hasn’t announced its first product yet, but has provided the teaser image below
FIH Mobile’s CEO Calvin Chih, said:
“We are excited to work with Mr. Kaji and the Lemonade team, and we continue to strive to help consumers and OEM partners to enhance their experiences and product offerings pertaining to innovative services.”
The new investment, and what sounds like a closer relationship with FIH Mobile, will help Lemonade Labs release its first products later this year in markets such as the U.S., Japan, France, and Taiwan.