Consortium in $60m series-B for Withings

The fresh capital will be used to grow the company's business-to-business division and to develop the next generation of tracking devices to monitor and predict health conditions. Withings also plans to add 100 new positions in the US and France by the end of the year to strengthen its teams working on research and development, sales, and marketing.

Previous funding
Withings has raised around €30m in funding in total, with a first €3.8m series-A round in 2010 led by Ventech, and a second round involving BPI France, Idinvest, Ventech and 360 Capital Partners, which committed a combined €23.5m to the company's series-B. BPI was the lead investor in the series-B, contributing €11m to the round.

In April 2016, BPI France, Idinvest and other backers agreed to sell Withings to Finnish technology company Nokia in a €170m EV deal.

In May 2018, Nokia sold the company back to founder Eric Carreel for an undisclosed sum.

Company
Withings is a digital health company founded in 2008. It is headquartered in Issy-les-Moulineaux, and has offices in Paris, Cambridge, the US and Hong Kong. The company employs 200 people.

Withings mainly develops connected devices and applications with a specific focus on wellbeing. Products include activity trackers, weighing scales, thermometers, blood pressure monitors and baby monitors.

People
Withings – Eric Carreel (president, co-founder); Mathieu Letombe (CEO).
Gilde Healthcare – Edwin de Graaf (managing partner).
Idinvest Partners – Benoist Grossmann (managing partner).

Advisers
Company – Clipperton (corporate finance).

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• Topics
• France
• Expansion
• Healthcare
• France
• BPI France
• BNP Paribas Développement
• IDInvest Partners (AGF Private Equity)