Nanoleq raises 11.5 million Swiss francs

Nanoleq has secured investment totaling 11.5 million Swiss francs after successfully closing a Series A financing round. The investors are keen to tap into the wearable technologies developed by the spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). The financing round was led by the German firm Capnamic Ventures in conjunction with Zürcher Kantonalbank, the state bank for the canton of Zurich, Verve Ventures and a group of business angels that included names such as Michael Halbherr, former CEO of the online geodata service Here, and Oliver Pabst, the former CEO of Mammut.

As detailed in a press release published on the Verve Ventures website, Nanoleq, which is based in Rümlang in the canton of Zurich, intends to continue pursuing its vision of rethinking and reinventing health monitoring on the basis of smart textiles with this fresh capital. Nanoleq was founded back in 2017 by a group of four biomedical engineers and is today considered an important supplier of components for e-textiles applications, ranging from vital sign monitoring to electrical stimulation.

In 2022, Nanoleq will be opening a location for its marketing, design and software development teams in Berlin. Over the next few months, Nanoleq will also launch its own brand “with a revolutionary wearable” on the market: “Interactive exercises with live biofeedback will empower users to take control of their mental health”, the press release explains. According to CEO Vincent Martinez, the product is situated “at the interface between meditation and science, for which we perceive a growing interest in the market”.