Sleep tech firm Zeo wakes up to $1M debt funding
Sleep technology company Zeo Inc. of Newton has raised $1 million of a planned $1.5 million round of new debt funding, according to federal documents.
Originally called Axon Labs, Zeo last pulled in $8.3 million in a Series C round of funding in January of 2009, which is when it changed its name. The company was founded in 2003 by researchers from Brown University. The new funding brings the total the company has raised to more than $15 million.
Zeo’s technology and services come together in its “personal sleep coach” product, which combines a headband to detect your sleep patterns and clock radio-like device that analyzes that data and allows Zeo to send you tips via e-mail on how to get a better sleep.
While the latest filing with the U.S. Securities and Exchange Commission didn’t name the three lenders in the round, it did call out a few of the company’s board members, including Ronald Chwang of iD Ventures America, Peter Meekin of Trident Capital and Colin Angle, CEO of iRobot Inc.