SA e-health company LifeQ raises $47m funding round for expansion

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South African company LifeQ, an independent provider of biometrics and health information derived from wearable devices and used in world-leading health management solutions, has raised a US$47 million funding round to help it scale operations.

With offices in South Africa, the United States (US) and the Netherlands, LifeQ provides a 24/7 lens into the body, generating business-grade biometrics for consumers, athletes, and the acutely and chronically ill to detect health problems earlier, manage their existing problems, and prevent illness. 

The company was already well-funded, and has now secured a US$47 million round to significantly expand its working capacity and drive higher reach, growth and profitability. 

Investors include Invenfin, 4Di Capital, Allectus Capital, Mogul Capital, Tenhong Holdings, Analog Devices, Hannover Re, Convergence Partners, Stellar Capital Partners, Nedbank Corporate and Investment Bank, Delos, OneBio Seed Investment Fund, Virgin Group, Lireas, Allen & Co, and Acequia Capital. LifeQ has also drawn the backing of experienced entrepreneurs and family offices such as Rachel Diamond, Halls Investments, Bremer Investments, Errol Damelin and Dietco, among others.

“LifeQ is proud to partner with the world’s most distinguished investment groups to positively impact the future of health for all people,” said LifeQ co-founder Laurence Olivier. 

“We are in the midst of a global health crisis caused by sedentary lifestyle, increased work demands, and unhealthy foods resulting in rapid increase in chronic illnesses worldwide, many of which are preventable. The COVID-19 situation has brought this problem into stark focus. LifeQ has already been integrated into some of the world’s most innovative new wearable products by leading OEMs to bring consumers the healthcare of the future.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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