Startup specializing in wearable health devices Cudis known for its smart health ring, today announced that it has raised $5 million in seed funding to expand its ring to broader markets and enhance its health-centric artificial intelligence features.
Led by Draper Associates, investors also included DraperDragon, Skybridge, Penrose, SNZ, Mozaik, NGC, Foresight Ventures, OGBC and Monke Ventures, among others, also participated in this round. Notable individual investors who joined the round included Kalin Stoyanchev of Render Network, Adam Jin of the Solana Foundation, and Carl Vogel of 6th Man Ventures.
Initially launched in April 2024, the Cudis ring stands out from competitors such as the Oura ring, developed by Oura Health Oy, which primarily provides health tracking data, with several additional features. It includes an AI-powered health coach and an underlying blockchain-based network that generates passive rewards based on activity designed to incentivize users to live healthier lives.
The Ring has a connection Using OpenAI’s ChatGPT and selected personal trainers, the company said it can provide personalized, tailored expert recommendations through its app to users that will guide them on their health journey.
Similar to other health wearables, it includes continuous monitoring of wellness and health data that allows users to stay on top of health goals, including insights. It also has a biometric dashboard that tracks sleep, activities, heart rate, calories burned and more.
Additionally, it uses the Solana blockchain to allow users to gamify their health journey has motivate them to achieve their health goals. The ring and app provide goals and achievements designed to encourage individual well-being based on their personalized needs and, as they meet them, they are rewarded with points for their participation. These points can then be redeemed for exclusive rewards for provide users something they can use to show that they have made progress towards those goals.
“Our mission at Cudis is to empower millions of people by integrating wearable technology, blockchain and AI, giving users control over their data and improving their well-being,” said CEO Edison Chen.
According to a study by LIMRA and life goes on Nearly a third of Americans use wearables to track their health data. However, less than 25% of people at risk for cardiovascular disease are likely to do so. It is well known for some time that gamifying incentives to engage people in their health journey can help drive greater participation in health awareness.
“Cudis is setting a new benchmark in wellness by leveraging technology to prioritize consumer needs,” said Timothy Draper, founder of Draper Associates. “This innovative approach could redefine the way we approach our health and well-being.”
Since launching the product, the company has quickly pre-sold 6,000 rings in over 50 countries and built a community of 50,000 members. This new round of funding will allow it to reach new markets and ship over 1 million rings in the next 18 months. as well as improve AI trainer and strengthen gamification options and development tools.
Image: Cudis
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