South African Healthtech LifeQ, Formerly HealthQ, Raises $47m Series A
LifeQ, a prominent independent source of biometrics and health information obtained from wearable devices and utilized in world-leading health management systems partly situated in Stellenbosch, South Africa, has raised $47 million Series A from prominent investors worldwide. The statement was made by LifeQ co-founders Laurence Olivier, CEO, and Dr. Franco du Preez, Chief Scientist.
LifeQ South Africa was previously HealthQ South Africa until a major recent restructuring saw LifeQ signing contractual services arrangements with the majority of HealthQ employees. The aims of the contracts were to retain HealthQ’s talent that had evolved a deep understanding of the LifeQ offering and technology. Also, as part of an agreement between the two companies, HealthQ had been operating as a for-profit entity providing research and development (R&D), scientific testing, and validation services to LifeQ. LifeQ was HealthQ’s main client before its close down.
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“LifeQ is proud to partner with the world’s most distinguished investment groups to positively impact the future of health for all people,” stated Mr. Olivier. “We are in the midst of a global health crisis caused by sedentary lifestyle, increased work demands, and unhealthy foods resulting in 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 to bring consumers the healthcare of the future.”
LifeQ has a strong shareholder base that includes Invenfin, 4Di Capital, Allectus Capital, Mogul Capital, Tenhong Holdings, Analog Devices, Hannover Re, Convergence Partners, Stellar Capital Partners, Nedbank Corporate and Investment Bank, Delos, OneBio Seed Investment Fund, Virgin Grou Rachel Diamond, Halls Investments, Bremer Investments, Errol Damelin, and Dietco are among the seasoned entrepreneurs and family offices that have backed LifeQ.
The company intends to use this round of investment to drive higher reach, growth and profitability.
A Look What LifeQ Does
Founded in 2014 by Franco du Preez, Kora Holm, Laurence Olivier, and Riaan Conradie, LifeQ is a leading independent provider of biometrics and health insights derived from wearable devices, helping people live healthier lives. By providing a 24/7 lens into the body, LifeQ’s solutions go beyond an everyday smart watch, generating business-grade biometrics for consumers, athletes, and the acutely and chronically ill to detect health problems earlier, manage their existing problems, and prevent illness. Consumers, wearable device companies, insurers and reinsurers, health-tech companies, clinicians, researchers and analytics companies all benefit from LifeQ’s powerful capabilities — representing the future of healthcare.
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LifeQ’s two main value propositions are: allowing wearable devices to produce business-grade and near-clinical-grade health data streams, and leveraging this data to develop health and wellness solutions for consumer, commercial, and clinical applications. LifeQ is quickly establishing itself as the chosen health enabler and benchmark for the world’s leading consumer electronics businesses, enabling the next generation of digitally enabled insurance and health management, and has already had a major, life-changing, and even life-saving influence on actual users’ lives.
“High accuracy, personalized, non-invasive digital health monitoring by wearable devices is the future of well-being and good health,” stated Dr. du Preez.
Samsung, Xiaomi, Fossil Group, Montblanc, Motorola, Suunto, and HannoverRe are just a few of the companies that have implemented LifeQ into their business. LifeQ has been recommended by leading semiconductor companies like as Texas Instruments, Qualcomm, and Pixart as the finest OEM enabler for users of their chipsets and platforms.
The company has offices in Stellenbosch, near Cape Town, South Africa, as well as in Georgia, United States of America and in Utrecht, in the Netherlands.
LifeQ Series A LifeQ Series A
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
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