Smartwatch iBeat raises $1.5 mln in seed funding

San Francisco-based iBeat, maker of a heart-monitoring smartwatch, announced it has raised about $1.5 million in an oversubscribed seed-stage round of funding that wa co-led by Maveron, Subtraction Capital and Correlation Ventures. Other investors include angels Ali and Hadi Partovi; Russell Okung, an offensive tackle for the Denver Broncos; KKR founding partner Henry Kravis; the Band of Angels; and the industrial design firm Ammunition Group. Ryan Howard, founder and chief executive of iBeat, previously was founder and chief executive of Practice Fusion.

Source: Company press release