Last updated on April 19, 2014 at 18:42 EDT

Consumer Heart Rate Monitoring Company PulseOn Closes a EUR1 Million Seed Investment Round

October 29, 2013

ESPOO, Finland, October 29, 2013 /PRNewswire/ –

Finnish mobile wellness technology company PulseOn has closed a EUR1m seed investment
round to finalize and launch its ground-breaking innovation in optical heart rate
monitoring. The company targets the booming market for wearable and biometrical consumer
sensors with its comprehensive multipurpose heart rate monitoring solution which is the
world’s easiest to use and accurate wrist device for sports and 24/7 use. The wrist device
is based on PulseOn’s disruptive and proprietary optical heart measurement technology. It
can measure heart rate with beat-to-beat accuracy which enables multiple use cases for
exercising, activity, recovery, stress, and sleep monitoring. The device is seamlessly
integrated with mobile apps which offer meaningful and motivating feedback based on heart
rate analytics.

PulseOn currently has 13 employees and is based in Finland. The company is a spin-off
from Nokia and was founded in November 2012. The team consists of researchers and experts
in sensor technology, algorithms and mobile technology, in addition to strong
productization and commercialization experience.

“With this investment PulseOn will be able to finalize the productization and enter
the markets during the first half of 2014. We want to disrupt the market for traditional
chest belt based heart rate measurement products by offering the easiest and most
comfortable solution to wider audiences. The product also offers a 2nd generation solution
to the current activity based wellness monitoring devices by offering significantly more
meaningful and accurate information based on continuous and accurate heart rate
measurement,” says Tero Mennander, Managing Director of PulseOn.

“PulseOn is a good example of a Finnish high tech company that has created a new
technology based product that can truly change the markets. Coupled with a highly
competent team we believe PulseOn will become a world leading heart rate solution
manufacturer in the strongly growing consumer fitness and wellness markets,” says Olli
Pohjanvirta, Chairman of the Board and investor representative.

The main investors of this seed round are Mr. Otar Margania, a Russian banker and dean
of the Economic Faculty of St. Petersburg State University and Mr. Olli Pohjanvirta.

        Media contact
        Managing Director Tero Mennander

        Chairman of the Board
        Olli Pohjanvirta


Source: PR Newswire