Sport Withings: Financial injection for new products and US expansion

15:01  28 july  2020
15:01  28 july  2020 Source:   t3n.de

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Withings (formerly Nokia Health) health ecosystem of connected devices & apps is designed to improve daily wellbeing and long-term health. Discover our award-winning smart scales, hybrid smartwatches & health monitors.

Withings . 226K likes. We make a range of products that empower people to make the right decisions for their health. See actions taken by the people who manage and post content. Confirmed Page owner: WITHINGS .

Withings: Finanzspritze für neue Produkte und US-Expansion © Withings Withings: Financial injection for new products and US expansion

The French company Withings has secured 53 million euros from investors. The company plans to invest the money in product development and use it to raise awareness of the brand in the United States.

The French company Withings, which specializes in networked health devices, has raised 53 million euros in fresh money from investors. Withings plans to spend the money primarily on product development, CEO Mathieu Letombe told the German press agency on Tuesday. But they also want to use some of them to make the brand better known in the USA and to do business in the healthcare sector there.

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At Withings , we believe in empowering people to take care of their health with prevention and early detection—which requires medical-grade accuracy. Withings ScanWatch is still under development. Available features at launch may differ according to regions and applicable law.

“ We will raise new money within the next half year,” CEO and founder Tim Gong Yu, told Variety, though he gave no details of either the value or the timing of International expansion has officially been part of iQIYI’s remit for the past three years, but the strategy is only now beginning to take shape.

Withings with a further focus on healthcare

Among the donors is the medical business investor Gilde Healthcare - and Withings hopes that it will open the door to the lucrative market. Withings became known with consumer devices like a networked scale - but when Nokia bought the company back two years ago, it was decided to establish cooperations in the healthcare sector as a second mainstay.

Particularly as a result of the corona crisis, Withings is preparing for a surge in telemedicine with the collection of health data such as weight, blood pressure or blood sugar levels. "There is a great need to monitor the values ​​between visits to the doctor directly at home." In the United States alone, 150 million people have chronic health problems such as increased blood pressure, overweight or sleep apnea. Letombe therefore sees a significant market for Withings devices such as blood pressure monitors or mats for detecting sleep disorders.

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Expanding a product line is an important growth strategy for small businesses that want to increase revenue or market share. A product line is a group of products or services in the same category, such as pet foods, engineering components or IT support services. Product -line expansion can take a

Financial forecasting is the process of estimating or predicting how a business will perform in the future. EBIT is also sometimes referred to as operating income and is called this because it's found by deducting all operating expenses ( production and non- production costs) from sales revenue..

Withings with "significant surge in demand" in the corona crisis

Withings had a significant surge in demand in the corona crisis, Letombe said. Consumers were not only interested in digital thermometers, but also in scales and blood pressure monitors - after it was reported that being overweight and high blood pressure could be a risk factor for a more severe course of the disease.

At the same time, it was a challenge to coordinate production in China without the usual business trips. "We made a lot of Skype calls." As a result, Withings in China - and also in the United States - is increasingly employing local staff. dpa

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Atrial fibrillation, sleep apnea, irregular pulse: Withings Scanwatch keeps an eye on your health

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