Boston-based fitness tracking company Lemonade Lab raised $ 5.8 million in a funding round led by FIH Mobile, a subsidiary of Foxconn Technology Group. This brings the company’s total funding to at least $ 10.3 million.
Foxconn’s investment is strategic – Foxconn will take care of manufacturing Lemonade Lab’s next health tracker.
Lemonade Lab has created a fitness tracking system designed to help athletes improve performance and reduce the risk of injury. The system consists of a health tracker and an app, called Lemonade Fit, which syncs with a cloud-based program. The app offers users coaching feedback based on their performance.
While Lemonade Fit is currently available on iOS and Android smartphones, the company doesn’t offer much information about the form factor of the health tracker device except that it will be worn on the wrist or strapped to the wrist. A bike. Users can also create in-app push notifications that help them track goals they want to achieve during a workout.
The company initially focused on cyclists and competitive runners. The app will track time, distance, speed, route and pace for runners as well as elevation, grade and lap time for cyclists.
“To ensure that our products and services meet the needs of high performance athletes, we work closely with coaches and athletes who actively compete at the highest level,” said Lemonade Lab CEO Kunihiko Kaji, in a statement. “We are analyzing this vast amount of data that we collect from these elite athletes to develop our coach feedback system.”
Lemonade Lab plans to launch its products in the United States, Japan, France and Taiwan later this year.