Smart shirt maker Hexoskin raises $1.3 mln from Anges Québec

Carré Technologies Inc, a.k.a. Hexoskin, has secured $1.32 million in a second round of financing from angel investment network Anges Québec and Anges Québec Capital Fund. Based in Montréal, Hexoskin is a designer and manufacturer of biometric shirts that measure cardiorespiratory activity, physical activity and sleep. The proceeds of the latest round will allow it to accelerate the medical certification of its clothing technology and pursue growth opportunities in the global digital health market. Hexoskin was founded in 2006 by CEO Pierre-Alexandre Fournier and CTO Jean-François Roy.

PRESS RELEASE

Smart Clothing Leader Hexoskin Closes over $1.3M, Accelerates Commercialization of Sports and Medical Research Health Monitoring Platform

Investment by Anges Québec Members and Anges Québec Capital to support the innovative digital health startup in FDA approval process

Montreal, December 15, 2015 – In a second round of financing, angel investors from Anges Québec and the Anges Québec Capital fund have invested $1,320,000 in Hexoskin, a world leader in digital health technology. This investment will allow the Quebec startup, which designs and manufactures smart shirts for health tracking distributed on five continents, to pursue its exponential growth overseas.

Hexoskin shirts measure cardiorespiratory activity, physical activity, and sleep. The data, transmitted in real-time to an iPhone or Android smartphone, can be shared over a platform that communicates with other apps. The new capital investment will allow Hexoskin to speed up the medical certification of its biometric clothing technology in order to conquer the global digital health market. With the unique physical health data collected by Hexoskin, their presence on the market could change the face of modern medicine.

NASA, the Canadian Space Agency, military organizations, and elite athletes are already active users of Hexoskin. The company is widely regarded as an international leader in its field. The Hexoskin smart shirt has been named Most Innovative Consumer Health Product and Best Wearable Device, and has won numerous other awards in Canada and the United States.

Quotes

“This new investment is a vote of confidence in our business, our technology, and our strategy for expansion into the medical field. This round of financing strengthens our position as a leader in the global digital health industry for smart clothing and mobile applications.”

– Pierre-Alexandre Fournier, president and co-founder of Hexoskin

“Hexoskin’s founders are true innovators. They uncovered the resources to develop smart clothing in a landscape that sees very few made-in-Quebec consumer electronics. We’re happy to be stimulating the creative genius of entrepreneurs in this province.”

– Pierre Chadi, angel investor and vice president of investments at Anges Québec Capital

About Anges Québec

Anges Québec is a network of 175 private investors that identifies, finances, and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Quebec organizations interested in the development and promotion of Quebec-based technological innovations. So far, Anges Québec members have made 77 investments and reinvestments in 53 promising businesses in the seed and startup phases.

About the Anges Québec Capital Fund

Anges Québec Capital is an investment fund set up to financially support the members of Anges Québec. Sponsored primarily by the Quebec government, Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, and Investissement Québec, the fund supports the angels who invest in innovative Quebec businesses in the seed or startup phase. This joint effort by angels and fund sponsors results in $85 million being made available to entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably grow their business.

About Hexoskin

Hexoskin is the world leader in smart clothing for health monitoring. Hexoskin smart shirts are used by thousands of athletes, trainers, and health professionals all over the world, and provide a new, convenient way to understand human health in real-life environments. In addition to serving its clients in sports science and health research, Hexoskin is a supplier of smart clothing for aerospace and military organisations in many countries, including the United States.

For more information on the Anges Québec network, visit www.angesquebec.com. Receive news about Anges Québec and its activities by joining our group on LinkedIn.com. A French version is available online at www.angesquebec.com/fr/nouvelles

Information and interviews

Anges Québec and Anges Québec Capital

Noémie Prégent-Charlebois: 514-716-8298; npregent-charlebois@tactconseil.ca

Hexoskin

Teneisha Collins: 1-888-887-2044; press@hexoskin.com

www.hexoskin.com

Photo courtesy of Hexoskin