Health gadget company Withings will announce in a few minutes a new funding round from Bpifrance, Idinvest Partners, 360 Capital Partners and existing investor Ventech. Out of the $30 million, $15 million comes fromBpifrance, the newly created public entity — BPI means Public Investment Bank in French. It is one of its first traditional VC deal.
Withings is perhaps best known for its series of smart scales and body analyzers (along with curious one-off devices like a baby monitor), but the company has recently decided to take a stab at creating yet another sort of fitness gadget: a wearable activity tracker. Calling that particular market crowded is putting it awfully mildly. Devices from the likes of Nike, Jawbone, and Fitbit have put an approachable face on the quantified self movement and have garnered plenty of attention from press and health-conscious consumers.