NEW YORK, Nov. 3, 2015 /PRNewswire/ -- Body Labs (bodylabs.com), provider of some of the world's most advanced technology for analyzing the human body's shape, pose and motion, today announced it has raised $8 Million in Series A funding -- led by Intel Capital. Additional investors include FirstMark Capital, Max-Planck-Innovation GmbH, Osage University Partners, Catalus Capital and the company founders and certain company employees. Body Labs will use this new capital to aggressively grow the company, accelerate product innovation, and rapidly expand its current market segment leadership in the 3D body modeling space.
"For the first time in human history, our technology makes it possible to automatically, accurately and cost-effectively deliver human shape as a digital platform," said Bill O'Farrell, co-founder and CEO of Body Labs. "Forward-looking companies can now confidently design and deliver products and services that are specifically suited for their customers' particular body shapes. Mass customization around human body shape is fast becoming a reality, and we are playing a vital role in how goods and services are designed, manufactured, bought, sold and recommended."
O'Farrell said the funding will enable Body Labs to strategically invest in its technology, such as new UI capabilities, additional platform and hardware integrations and a continued focus on the retail space, in collaboration with Intel.
"Body Labs' technology is designed to make possible significant advancements in body imaging and customization," said Mark Yahiro, Managing Director of New Business for Intel's Perceptual Computing group. "They are commercializing this innovative technology and making it more accessible than ever." Director Sanjit Dang led the investment for Intel Capital.
O'Farrell also said the funding "enables us to bolster our support for partners and developers moving forward." These initiatives will be supported by Body Labs' suite of products and services:
- BodyHub: A cloud-based platform to rapidly process, safely store and efficiently access the world's body models
- BodyKit: A collection of APIs and embeddable components providing the easiest and most powerful way to build apps and tools surrounding the human body
- BodySnap: Leverage the Microsoft Kinect and BodySnap to easily create 3D body models from anywhere
Body Labs technology has exclusive licensing agreements with Brown University, where its technology was originally developed, and the Max Planck Institute's Perceiving Systems Group, where continued advances in the body modeling area are being made.
The funding announcement was made at the Intel Capital Global Summit in San Diego, where O'Farrell appeared onstage with leading technology and finance experts to discuss the opportunities created by disruptive business models.
About Body Labs
Founded in 2013 and headquartered in Manhattan, Body Labs collects, digitizes and organizes all of the data and information related to human body shape, pose, and motion. Its mission is to transform the human body into a digital platform upon and around which goods and services can be designed, produced, bought and sold.
About Intel Capital
Intel Capital, Intel's strategic investment and M&A organization, backs innovative technology startups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested nearly US$11.6 billion in over 1,400 companies in 57 countries. In that timeframe, 213 portfolio companies have gone public on various exchanges around the world, and 373 were acquired or participated in a merger. Through its Global Summit and other business development programs, Intel Capital curates thousands of meetings each year between its portfolio and Intel's partners in the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About FirstMark Capital
FirstMark Capital is an early stage venture capital firm based in New York City. Our mission is to partner with exceptional entrepreneurs who are changing the world by solving meaningful problems. We have built a deeply engaged community among the extraordinary teams in our network to spread ideas and opportunities. We are privileged to work alongside the founders of remarkable businesses like Pinterest, Shopify, Riot Games, InVision, Tapad, NewsCred and dozens more. Visit us in New York City or online at firstmarkcap.com and @FirstMarkCap.
About Osage University Partners
Osage University Partners (OUP) invests in startups that have licensed technologies from universities and research institutions. OUP has partnered with over seventy five academic institutions to invest in pioneering technologies and visionary entrepreneurs targeting large market opportunities. The firm invests across a range of company stages and technology sectors including software, hardware, and life sciences. Since being founded in 2009, OUP has raised $315M and invested in over 45 companies.
About Catalus Capital:
Catalus Capital is an investment fund with offices in NYC and Greenwich, CT that makes structured equity and debt investments. The fund typically invests $10m-$40m to support acquisitions, growth, recapitalizations, and special situations located in the US, Canada, the Caribbean, and Europe. Catalus is industry agnostic and has flexibility in the types of structures and deals that it considers. For additional details please see www.cataluscapital.com.
For more information, please visit: www.bodylabs.com
SOURCE Body Labs