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Fitbit Grabs $2 Million in Venture Capital Funding
We initially covered Fitbit when they provided a look at their technology last month. The Fitbit Tracker looks like a large paperclip and tracks a variety of physical activities as you move around with the device attached to your clothing. Today the company is announcing they have raised $2 million in venture capital funding.
Fitbit notes that True Ventures led the funding round with additional investment by Jeff Clavier’s SoftTech VC and a group of angel investors. As part of the funding round, Jon Callaghan from True Ventures joined Fitbit’s board of directors. Fitbit previously raised $425,000 in angel funding.
The company plans to use the funding to push towards a launch in early 2009. The Fitbit Tracker will retail for $99 and you can pre-order one now. I wish they made it work with wifi; currently you are required to go "home" with the device for it to update itself. Otherwise it’s a device I would be interested in because it could just open my eyes to exactly what I am doing wrong. Maybe they could offer a 2.0 version that includes a stunner – eat the donut, get zapped, walk too few steps, get zapped. I’d also like to see them partner with other fitness services including Traineo so that data can be exported to the customer’s fitness site of choice.
Here’s what the Fitbit device looks like: