Silicon Valley-based Tribe Capital Invests in Denver Startup’s Smart BioSleeve
The fast-growing data technology company Cipher Skin will use the funding to develop and commercialize the BioSleeve, a smart compression sleeve enabling real-time 3D visualization of the body’s complex motions and biometrics.
Tribe Capital, a venture capital firm based in San Francisco, announces an investment in Cipher Skin Inc., a Denver-based startup developing the next generation of physical therapy and rehabilitation clinical wearables.
Founded by a trio of former Social Capital partners and data scientists – including Arjun Sethi, Tribe Capital aims to recognize and amplify early stage ventures with the potential to deliver N-of-1 outcomes by focusing on maximizing product-market fit. Tribe Capital's founding partners have invested in industry pioneers such as Slack, Snapchat, Carta, Gusto, and Flatiron Health.
Arjun Sethi said: “We have been intrigued with Cipher Skin’s technology and have been closely following their progress and development for several months. The BioSleeve meets a real need for innovation in the current physical therapy space, especially during the pandemic where telemedicine is a primary form of patient/provider interaction.”
The BioSleeve is a smart compression sleeve designed as an analog-to-digital tracking tool for medical providers, physical therapists, and trainers involved in the rehabilitation and return-to-play process. Via the accompanying Digital MirrorTM App, users can visualize real-time complex motion of their legs and arms in three dimensions, along with key biometrics such as heart rate and oxygen saturation. The Digital MirrorTM automatically stores and manages all client-side data recorded during therapy or activities of daily living.
Phillip Bogdanovich, Cipher Skin’s Co-Founder – said: “Physical therapists and trainers can rely on fully automated range of motion tests, with the guarantee of highly precise, objective data. This reduces their daily administrative burden by 90%, and provides more patient-facing time. More importantly, Cipher Skin products are also a vehicle for administering rehabilitation remotely and without sacrificing effectiveness.”
The BioSleeve is currently in use in major PT clinics throughout the country, primarily in California. Additionally, Cipher Skin is actively working with medical equipment manufacturers and distributors to integrate the BioSleeve functions with other form factors.
Bogdanovich specified: “So far, the traction has been amazing. Our goal is to make PTs’ daily practice easier through automated assessments and data management, and create objective and reliable data sets to enable future analytics. We generate new opportunities, both for physical therapists and patients, through awareness, affordability and accessibility.”
This investment in Cipher Skin by Tribe Capital is just the first. “We build long-term, customized relationships with the companies we invest in. Our collaboration with Cipher Skin is set to be durable”, Sethi added.
About Tribe Capital
Founded in 2018, Tribe Capital, www.tribecap.co, is a venture capital firm based in San Francisco, California. Being sector and stage agnostic, the firm seeks to invest in seed to growth-stage technology companies. Their focus is on recognizing and amplifying early stage product-market fit with the goal of finding companies that have the potential of becoming N-of-1 outcomes. Tribe Capital's founding partners have invested in industry pioneers such as Slack, Snapchat, Carta, Gusto and Flatiron Health.
About Cipher Skin
Cipher Skin Inc, www.cipherskin.com, is a data company with a patented data delivery system – a groundbreaking sensor technology, embedded into a garment, that creates intelligent clothing for athletic to casual wear. Our mission is to quantify and optimize human health and performance by creating the world’s first database of integrated human data. Cipher Skin is currently developing the next generation of physical therapy and rehabilitation clinical wearables, with unique data and analytics that provide unmatched progress and results. The BioSleeve is their first product currently available on the market.
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