Wearable Tech Startup Fitbit Just Raised $US43 Million

Fitbit flex

Activity and fitness startup Fitbit just closed a $US43 million round, according to an SEC filing.
In March, Fitbit was rumoured to be raising a $US30 million round at $US300 million valuation.

As part of the round, Softbank Capital Steven Murray will join the board.

The round was led by Softbank Capital, and included existing shareholders like Foundry Group and True Ventures, Fortune reports.

Fitbit makes a variety of devices for activity tracking like the Flex, One, and Zip. It also sells the Wi-Fi-powered Aria Smart Scale.

Fitbit had previously raised $US23 million from investors including True Ventures, SoftTech VC, Foundry Group, and Felicis Ventures.

But Fitbit has a number of competitors aiming to get a piece of the wearable tech market. They include Jawbone, Nike, and Apple, which may release an iWatch with activity tracking capabilities.

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