Wearable technology startup Ringly raised $5.1 million in Series A, led by Andreesen Horowitz.
High Line Venture Partners, Silas Capital, PCH and others also participated in Series A funding for the smart ring company, Ringly founder and CEO Christina Mercando said in a press release.
Follow-on investments came from early stage partners including First Round Capital, Mesa+, Social+Capital and Brooklyn Bridge Ventures.
Ringly creates gemstone rings that complement one’s smartphone, sending alerts via light or vibration.
“We didn’t begin with the idea of technology followed by fashion,” Mercando said. “We began with fashion first, and technology at the core. This required us to concentrate heavily on the miniaturization of our electronics upfront. It was no easy task — and took a lot of deep technical and manufacturing expertise that is invisible to our ring wearers — but we ended up with a lot of specialized knowledge as well as a set of ecosystem relationships that made our vision real.”
Ringly was founded by a group of three people in June of 2014. Now, they have a team of 12 engineers and designers, with experience at companies like Etsy and Boeing and schools like the Massachusetts Institute of Technology and the Fashion Institute of Technology.
“Miniaturization for us is key, not just because it creates that “distance” from obvious tech, but because it allows jewelry designers and artists the freedom to create on top of and around it without restrictions,” Mercando said.
Ringly rings are made with an 18K matte gold 3 micron plated setting and precious and semi-precious stones. Prices range from $195 to $260.
Filed Under: M2M (machine to machine)