Total amount raised
$79.3 Million
Latest funding date
12/01/2022
Location
Lumen has developed a handheld metabolic coach designed to help users improve their metabolic health through personalized guidance on nutrition, exercise, sleep, and stress levels. The device measures metabolism through breath analysis, offering users a comprehensive approach to managing weight, increasing muscle mass, and boosting energy.
Keep reading to explore the intricacies of Lumen's fundraising journey and the investors backing this innovative platform.
What Is Lumen?
Lumen operates in the health and wellness technology industry, offering a handheld metabolic coach designed to help users improve their metabolic health. The device measures the CO₂ concentration in the user's breath to determine whether they are burning fat or carbs.
Lumen provides personalized insights and lifestyle guidance based on these measurements, aiming to help users manage their weight, increase energy levels, and improve overall metabolic health. The company collaborates with top research institutions and is endorsed by health professionals.
How Much Funding Has Lumen Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial prototype and validate the concept of a handheld metabolic coach.
- Series A
- Amount Raised: $7M
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and enhance the technology of the metabolic coach.
- Equity Crowdfunding
- Amount Raised: $1.8M
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and raise funds for further development and marketing.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and expand the team.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series B
- Amount Raised: $8.5M
- Date: September 2019
- Lead Investors: H&H Group, Unorthodox Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product features.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and increase user base.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Google for Startups.
- Series B
- Amount Raised: $62M
- Date: December 2022
- Lead Investors: Pitango VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the reach of Lumen's device, enhance technology, and support ongoing research partnerships.
Total Amount Raised: $79.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Pitango Venture Capital
- Details: Pitango Venture Capital is a leading venture capital firm that led the Series B funding round for Lumen. They focus on investing in innovative technology companies.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: Vayyar Imaging, Via Transportation, Taboola
- Hanwha Group
- Details: Hanwha Group is a South Korean conglomerate with a diverse portfolio, including manufacturing, construction, and finance. They participated in Lumen's Series B funding round.
- Investment Focus Areas: Manufacturing, construction, finance, services
- Notable Investments: Solar energy projects, aerospace, defense technologies
- Resolute Ventures
- Details: Resolute Ventures is an early-stage venture capital firm that invests in technology startups. They were a participating investor in Lumen's Series B funding round.
- Investment Focus Areas: Early-stage technology startups
- Notable Investments: BarkBox, Opendoor, Clutter
- RiverPark Ventures
- Details: RiverPark Ventures is an early-stage venture capital firm that invests in various sectors. They participated in Lumen's Series B funding round.
- Investment Focus Areas: Early-stage companies in various sectors
- Notable Investments: Compass, The Wing, ClassPass
- Unorthodox Ventures
- Details: Unorthodox Ventures is a venture capital firm that focuses on consumer products, technology, and innovative startups. They were a participating investor in Lumen's Series B funding round.
- Investment Focus Areas: Consumer products, technology, innovative startups
- Notable Investments: OJO Labs, ICON, Molekule
What's Next for Lumen?
Lumen's future looks promising as they aim to expand their user base by making metabolic testing accessible to the general public. With the recent $62 million Series B funding, they are well-positioned to enhance their personalized nutrition and lifestyle guidance solutions, and support ongoing research partnerships with academic institutions. The growing interest in personalized health and fitness technology presents a significant market opportunity for Lumen.
Future fundraising opportunities are likely, with potential Series C rounds and strategic partnerships on the horizon. However, Lumen may face challenges such as competition from other health tech companies, ensuring the accuracy of their metabolic measurements, and navigating regulatory requirements in different markets. Despite these hurdles, the company's commitment to innovation and user engagement positions them well for continued growth and success.
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