Lumen raise US$62 million
More: Lumen Review
In its second round of funding, Lumen raises a tidy US$62m from a variety of venture capitalists including Almeda and Resolute. It was founded in 2014 and had previously raised $14m.
Lumen is a unique consumer product that measures metabolism through carbon dioxide in breath. The variation in CO2 exhaled and inhaled across a series of readings is used to estimate fat and carb burn. Lumen’s app platform gives daily personalized nutrition and lifestyle guidance based on their results. In recent(ish) months Lumen introduced support for viewing the results and insights on both the Apple Watch and Garmin platforms.
Lumen states that more than 2 million measurements are made each month
I would estimate an average of 30 readings per user per month which would indicate over 60,000 active users.
Lumen now has a subscription-only contract which should deliver a minimum of $250pa per user. Hence the company’s annual turnover might be $18m…or not.
The new funding was not stated to be destined for new products and is planned to be used to:
- Expand geographic sales coverage
- Further develop the nutrition/lifestyle side of the app
- Continue academic research funding
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