Singapore-based smart wearables startup KaHa has raised $6.2 million in a Series B funding to accelerate its growth in Asia. The founding round was led by ICT Fund, a specialized deep-tech venture capital fund focused on deep-tech investments.
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The company will the new fund to boost its research and development and scale its operations in the Asia Pacific region – the world’s fastest growing smart wearables market, outperforming Europe, the Americas, and Africa.
“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.
KaHa was incorporated in 2015 by Pawan Gandhi, Justin Tang and Sudheendra Shantaram. The company runs an end-to-end IoT platform for smart wearables including electronics design, printed circuit board assembly, application framework for iOS and Android, cloud services, data analytics and smart after-sales service tool, reports SME Street.
The platform also enables partners and customers to incorporate the latest technology without high financial costs and speed up their go-to-market time for smart products.
KaHa is expecting the number of devices powered by its platform to exceed two million by the end of 2019.
“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,” said Brijesh Pande, managing partner of ICT Fund.
As part of its expansion plan, KaHa plans to increase manpower at its Singapore headquarters and offices in China, India and Switzerland within the next two years.
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