Los Altos, a California-based company focused on artificial intelligence-powered restorative sleep technology Bryte successfully raised $24 million in its recent participation in the Series A funding round. The investment round was led by ARCHina Capital.
Apart from ARCHina Capital, other investors also took part in the Series A investment round. These include co-founder of Adobe John Warnock and former president of Rambus, Dave Mooring.
Following this deal, its press release states that ARCHina Capital’s co-founder, Amy Huang, is slated to join Bryte’s board of directors. Bryte states Huang is renowned in the industry for her investments in Luminar and Carbon.
In a statement, Huang said, “We believe that the Bryte platform will accelerate the restorative sleep tech revolution for the entire $432 billion sleep industry, much as Luminar is accelerating autonomous driving adoption across automakers.”
She added, “Carbon is accelerating mass customization in the manufacturing industry. Bryte is poised to become the Android of sleep.”
Bryte is considered a leading manufacturer of artificial intelligence and robotics-powered beds in the market.
The team, which is led by CEO Ely Tsern, is composed of experts in various related fields including artificial intelligence, sleep science, robotics, licensing, and software.
Some members of the team are from Stanford University, while it is led by the company’s Lead Sleep Science Advisor Dr. Matthew Walker, the founder, and director of UC Berkeley’s Center for Human Sleep Science. Walker is also the author of Why We Sleep.
Tech Crunch states that the funding and the announcement of the company come as Bryte is veering away from selling its premium mattress line valued at $8,000.
Instead, the company is looking to highlight its restorative sleep technology and have its patented tech licensed to other companies.
As of writing, the company acknowledges that there are various deals in the works, with the money raised from the Series A funding round to be allocated to its growth, as well as its research and development.
This move is geared toward a better and more efficient way to accomplish the firm’s goals of providing a way to improve customers’ sleep experience. Moreover, it helps the company veer away from being another direct to consumer brand, but as a tech researcher and developer.
Meanwhile, Bryte’s original product called the Restorative Bed remains to be available for customers. It has built-in sensors and computer-controlled coils to learn users’ sleep patterns.
