Smart baby monitor system Nanit raises $25M for product expansion

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Nanit, a smart-monitoring system for sleeping babies, announced today it has closed a $25 million Series C funding round. The raise brings the company’s total capital raised to date to $75 million.

New investor GV led the round, with participation from existing investors Jerusalem Venture Partners, Upfront Ventures, RRE Ventures and Rho Capital Partners.

WHAT IT DOES

Nanit’s baby-monitoring system is designed to give parents insights into their baby’s sleep, as well as their overall health.

It includes an overhead nursery camera that uses artificial intelligence to see and hear anything that happens in or around the crib. Paired with Nanit’s line of Breathing Wear, caregivers can keep track of their baby’s sleep and breathing patterns without sensors or wires.

Each morning, the connected Nanit app provides a summary of the previous night’s sleep, including how long it took for the baby to fall asleep, how long the baby slept for, the number of interruptions and an overall sleep score.

Today’s funding comes on the heels of the company’s newest products, the Nanit Pro overhead camera and Nanit’s Smart Sheets, which, when used together, can measure a baby’s height to track growth.

WHAT IT’S FOR

Nanit plans to use the funds for international expansion as well as research and development for new products, services and in-app features.

“With the strong backing of our investors and a rapidly growing global community of loyal users, we will continue to introduce innovative solutions that make parenting easier – and that are natural extensions of the technology they are using on a daily basis,” said Sarah Dorsett, CEO of Nanit, in a statement.

In addition to its investment, GV Partner Frederique Dame will join Nanit’s Board of Directors.

“Nanit is driving the evolution of connected health for parents and babies through the company’s unique use of artificial intelligence and computer-vision technology,” Dame said in a statement. “I look forward to supporting Nanit as they continue to modernize the new parent experience and safely connect families to children’s health and each other through meaningful data and insights.”

MARKET SNAPSHOT

Increasingly, parents are using technology to help give them peace of mind about their child’s development.

Owlet Baby Care, the maker of connected infant-monitoring products targeted at consumers, announced its merger with special purpose acquisition company Sandbridge Acquisition Corporation earlier this month. The combined company was valued at $1.07 billion and plans to head to the New York Stock Exchange in Q2 2021.

FitTrack has a smart scale designed for moms-to-be – while they’re pregnant and beyond. When the mother steps on the scale holding the baby, it automatically deducts the mother’s weight to give a picture of the baby’s development.

Last year, researchers from the University of Helsinki and MIT separately released experimental design reports for a smart jumpsuit aimed at keeping track of babies with possible neurological abnormalities and for a smart diaper that alerts parents when it detects dampness.

 

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