Misfit Wearables is Getting Chinese Company Financing, Spurring Xiaomi Interest
Misfit Wearables, a company known as the “Apple of fitness trackers” for its elegant devices is getting a round of financing from China and has also spurred Xiaomi’s interest. The company was founded by Apple’s former CEO, John Sculley and completed $40 million in financing from a series of Chinese companies.
Apparently, the Misfit products are the most popular activity and sleep trackers in China. Xiaomi and GCV Capital Partners were among the investors and are now part of the controlling board of Misift. Xiaomi has been trying to get into the fitness tracker market, but without managing to develop a stand out product. Misfit has a tracker called Shine, that offers a very slim and subtle design, with an aircraft metal body and beautiful LEDs to show progress and time.
The Shine doesn’t have a display and it can be worn at the wrist, on clothes or at the neck. Its app is very intuitive and sleep tracking is very accurate. Misfit has the HQ in California, but they also have a research team in Vietnam. Expect to hear more about this brand in the future!