Singapore IoT Startup KaHa Raised USD 6.2M in Series B

KaHa, a Singapore-based end-to-end IoT platform startup for smart wearables, has raised US$6.2 million in Series B funding to accelerate its growth in Asia. The funding round was led by ICT Fund, a specialized deep-tech venture capital fund and an existing strategic investor from Europe.

KaHa will be expanding its presence in Singapore as well as play a more significant role in the country’s IoT ecosystem. For instance, KaHa collaborates with Tex Line and A*STAR SIMTech to create the first made-in-Singapore Smart Fitness T-shirt. The smart-T, which was tested at the one-north Run 2018, monitors live ECG, live heart rate, heart rate variance, V02 Max and other health parameters.

Beyond smart wearables, KaHa, together with A*STAR Institute of Microelectronics or IME, developed an extravasation detection proof of concept designed to detect the degrees of swelling during infusions. Being able to detect varying degrees of swelling, the sensor patch and monitoring system will help improve patient safety by assisting in the early detection of complication to ensure immediate care be given to patients, particularly babies and children.

“As a company with a mission to create a better and safer environment, it is important to us to bring innovative and relevant technologies into a consumer’s everyday life. Apart from helping us expand our product line, this new round of funding will allow KaHa to discover more breakthrough products that can support the health and wellness, sports and fitness, safety and digital payments needs, as well as increase the COVE platform’s availability internationally and improve our accessibility and affordability,” said Pawan Gandhi, founder and CEO of KaHa.  “With the continued support of our existing strategic investor and new partner ICT Fund, we are strategically positioned to make our mission possible.”

Brijesh Pande, founder and managing partner of ICT Fund said: “We are delighted to partner with KaHa, which is well placed to capitalize on the fast-growing market opportunity in smart wearables. Consumer product brands will increasingly need to offer ‘smart’ products to maintain leadership and KaHa, with its innovative end-to-end platform, is a perfect partner for global brands.”

“We are very pleased with KaHa’s progress and track record and it’s been clear that its platform can be scaled across various brands.  We are excited about increasing our investment in KaHa on this next phase as it continues to drive scale and growth in the wearable tech and IoT space,” said Andy Raswork, board member of existing strategic investor.

KaHa expects the number of devices powered by its platform to exceed two million by the end of 2019.  The company also aims to increase manpower in its Singapore headquarters and offices in China, India and Switzerland within the next two years, as part of the expansion plans.